Debt Relief Orders (DRO) - Information & help thread

Debt_Tired

Received a letter from my local CAB this morning. There is a 3 to 4 week backlog (wait). Poor chaps are snowed under. Wanting to secure a DRO ASAP would it be wise to go through the National Debt Helpline? Nothing against CAB, but the sooner I secure a DRO the quicker I will be discharged in 2010.

On the subject of being discharged, I read somewhere that under certain conditions you can be discharged early? Anyone know anything about this?

Lightattheend

It sounds like the CCCS may have a backlog as well from the conversation I had with an advisor today (wasn't asking about that but bankruptcy and he mentioned that dept was very busy with DROs).

mazzatee

Hi All

Been reading through the thread and have a couple of points to mention:

1) DCAs dealing with debts - they have 30 days to respond to DRO & I cant imagine many will get their act together that quickly!! The important thing to note is that even with adding interest & charges the OR takes the debt total on the day your application is submitted not at the end.

2) Pensions are included as assets as essentially they are - its just that the 2006 act excluded them for bankruptcy purposes. This is a new thing and the problem is that without any investigations there is a greater need to check assets.

3) CCCS are still booking appointments for April but obviously you have to go through either debt remedy or an appt first.


As with anything it will take time to settle down and sort out the problems.

Re bankruptcy there are moves afoot to remove the need to file at court but still in early stages as Insolvnecy Service would need to put before parliament to revise act - that could take years but hopefully not.

mazzatee

Hi

Just to let you know I booked case number 267 this morning so 267 booked in just over a week!

dalip

blind-as-a-bat wrote: »

You can be with normal BR, but it seems not to apply to a DRO, the 12 months seems set in stone to me, in all the documentation i have read, Im sure DD or one of the others will correct me if im wrong

Yes bat i have read that there is no early discharge(dd post on DRO)you have to do the full 12 mths stretch!Dx

lauzjp

hubby and I are both on seperate DMP's, but so far as I can make out, I could go for a Debt Relief Order.. that would be so nice to be free in a year! I only pay £30-something for my DMP, so I'm hopeful I will qualify - I shall ask CCCS when I have a review.

debt_doctor

Hi all, just to confirm that anyone with a pension fund over £300 ( including opting out of serps) CANNOT enter in to a DRO.:eek:

Utter madness.:mad:

DD

magoogy

im just wondering what reasons would there be for not being accepted? because £90 is a lot of money to lose if it does turn out that you havent been accepted for one...

thanks

dalip

It is if you are 40 and do not get anything from it until you are 65:eek:

debrag

it says the order lasts for 12 months not 3 years

Moratorium period
The main effect of a DRO will be to place a ‘moratorium’ period on the debts listed in
your DRO. This means creditors cannot take any action to recover or enforce their
debts against you during this period. The moratorium usually lasts for 12 months from
the date of the order, although there may be exceptions, and after that time the listed
debts will be discharged.
If your circumstances change enough for you to make payments to your creditors, the
official receiver will need to consider whether or not to terminate the DRO. If the
changes in circumstance occur close to the end of your 12-month moratorium, the
official receiver can extend the moratorium for up to 3 months to allow you to come to
an arrangement with your creditors. You will, during this extension time, be subject to
the same limitations and receive the same protection as during the first 12 months of
the DRO.