Debt Relief Orders (DRO) - Information & help thread

Orville

jenniewb wrote: »

Quick question:

I got a DRO in 2009 (August). It was accepted and finalised and passed.

I am just wondering, I know it affects my credit rating and means no new debts or loans etc for a few years (8? 10?) but will it affect getting a mobile phone contract?

Thanks for any answers!

I can't say for sure but if you are after a contract phone i would say yes as i am pretty sure a credit check is done. It maybe that they will get back to you asking for a sizeable deposit.

astra_man

Hi Guys.

If I have a mobile phone contract which I add into a DRO, Are the network within their right to ask for the handset back?

Astra

3Dogs

Just something for information - my DRO was granted on 13th January 2011 and I got an updated credit report to see if/how it was shown on my file - it was shown as 'Bankruptcy' - I did ask on here about it but was advised to query it with Equ!fax which I have now done - they told me that is reflected as Bankruptcy as 'that's the way they record DRO's' - I queried this, but was again told 'that is the only way they have of showing a DRO'

This seems odd and very wrong to me, so I will get around to seeing what Exper!an show on my file, and let you know

Orville

astra_man wrote: »

Hi Guys.

If I have a mobile phone contract which I add into a DRO, Are the network within their right to ask for the handset back?

Astra

Well i had a samsung omnia i8910 which was 4 months or so into a two year contract on orange. I included it in mine and they never asked for it back.

astra_man

Thanks Orville,
That is much appreciated.

astra_man

So I had some advice from a legal practitioner about DRO, but still confused, even more so now!

I have a car, which I had a fixed loan out, I dont believe it is secured on the car.
That is about £5k at the minute, 3 years to go.
I signed the car over legally to my sister for insurance reasons last year, so is in her name, but i am paying for it.

I also have catalogue debts of about £1k, a loan of £1.5k, an overdraft of £1k, credit card of about £500.
Mobile phone contracts (4)

What will happen to my car if I get a DRO, as my car is valued at about £1.4k, but as I say, it is a fixed loan agreement....

I understand I have to wait until April to do anything, as I have a pension worth £1.5k at the moment, and was told this changes in April.

Thanks in advance

Astra

immoral_angeluk

astra_man wrote: »

So I had some advice from a legal practitioner about DRO, but still confused, even more so now!

I have a car, which I had a fixed loan out, I dont believe it is secured on the car.
That is about £5k at the minute, 3 years to go.
I signed the car over legally to my sister for insurance reasons last year, so is in her name, but i am paying for it.

I also have catalogue debts of about £1k, a loan of £1.5k, an overdraft of £1k, credit card of about £500.
Mobile phone contracts (4)

What will happen to my car if I get a DRO, as my car is valued at about £1.4k, but as I say, it is a fixed loan agreement....

I understand I have to wait until April to do anything, as I have a pension worth £1.5k at the moment, and was told this changes in April.

Thanks in advance

Astra

When you say you signed the car over to your sister, what did you actually do/change?

immoral_angeluk

astra_man wrote: »

Hi Guys.

If I have a mobile phone contract which I add into a DRO, Are the network within their right to ask for the handset back?

Astra

No, because you are only 'buying' the contract as such. The handset is yours to keep.

astra_man

immoral_angeluk wrote: »

When you say you signed the car over to your sister, what did you actually do/change?

We signed the logbook over, is it V5?

wba31

astra_man wrote: »

We signed the logbook over, is it V5?

But you're still buying the car, as in paying for it. Regardless of who's name the agreement is in it is an asset for you, and would mean at this present time (while parker's value is over £1000) you are not eligible for a DRO.

You could try to say you have just given her the car, but that would be deemed as giving away an asset for less than it's true value, and would most likely see a DRO get revoked.