Debt Relief Orders (DRO) - Information & help thread

scarlet55

sarbaz2007 wrote: »

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 1
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 377
Partners monthly income after tax....... 0
Benefits................................ 570
Other income............................ 0
Total monthly income.................... 947

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 21
Management charge (leasehold property).. 0
Council tax............................. 2
Electricity............................. 40
Gas..................................... 40
Oil..................................... 0
Water rates............................. 30
Telephone (land line)................... 30
Mobile phone............................ 50
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 13
Groceries etc. ......................... 380
Clothing................................ 10
Petrol/diesel........................... 100
Road tax................................ 15
Car Insurance........................... 87
Car maintenance (including MOT)......... 20
Car parking............................. 20
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 15
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 12
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 10
Total monthly expenses.................. 917

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 2200(owned by dad)
Other assets............................ 0
Total Assets............................ 2200
No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Social fund....................769.64....0.........0
Lloyds overdraft...............3000......0.........0
Natwest cheque.................3500......0.........0
T-Mobile.......................250.......0.........0
Next...........................750.......0.........0
Additions......................335.......0.........0
Very...........................307.......0.........0
Marshall ward..................460.......0.........0
Littlewoods....................140.......0.........0
Vanquis........................980.......0.........0
Aqua...........................845.......0.........0
Capital 1......................610.......0.........0
Total unsecured debts..........11946.64..0.........-


Monthly Budget Summary
Total monthly income.................... 947
Expenses (including HP & secured debts). 917
Available for debt repayments........... 30
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 30

Personal Balance Sheet Summary
Total assets (things you own)........... 2,200
Total HP & Secured debt................. -0
Total Unsecured debt.................... -11,946.64
Net Assets.............................. -9,746.64

Is this ok or do i stil need to fine tune it.
Calling up CAB tommorow. apart from credit reports do i need a balance from every creditor individually or is that all done by DRO team?

Thanks for everyone's help.:beer:

i think you could stick another 20 on groceries cuz nappies dont come cheap..im not a driver but is it really £87 a month car insurance..you could also add another £3 to haircuts,dont worry cuz iff u get a good dro adviser, they will tweak it for you...they will give you a form to send off for a credit report but it can sometimes take a couple of weeks to come back..i got the free 30 day experian one on-line and downloaded it...but b4 your dro is actually submitted you will need to get an upto date balance from your creditors.most of mine i did on-line and downloaded them...but one had been passed to a credit agency so i phoned them and just told them id been to the CAB and i needed a balance to work out how much i owed people....dont tell them you are getting a dro, just tell them you will be in touch with an offer of payment when when you have sorted everything out with the cab...good luck hope you get a quick appointment like i did...:):) iff u have to phone ur creditors tell them you need a reference number..

sarbaz2007

scarlet55 wrote: »

i think you could stick another 20 on groceries cuz nappies dont come cheap..im not a driver but is it really £87 a month car insurance..you could also add another £3 to haircuts,dont worry cuz iff u get a good dro adviser, they will tweak it for you...they will give you a form to send off for a credit report but it can sometimes take a couple of weeks to come back..i got the free 30 day experian one on-line and downloaded it...but b4 your dro is actually submitted you will need to get an upto date balance from your creditors.most of mine i did on-line and downloaded them...but one had been passed to a credit agency so i phoned them and just told them id been to the CAB and i needed a balance to work out how much i owed people....dont tell them you are getting a dro, just tell them you will be in touch with an offer of payment when when you have sorted everything out with the cab...good luck hope you get a quick appointment like i did...:):) iff u have to phone ur creditors tell them you need a reference number..

yes insurance is the cheapest i got for comprehensive, will they be ok with that?

rira

wba31 wrote: »

In the DRO you cannot be the director of a company, and that would have to be relinquished prior to submitting your DRO. It is one of the restrictions of DRO's and also of bankruptcy

However, you can be self employed, right? Or? I am just about to apply for a DRO, due to money issues/husband being FT student.

scarlet55

sarbaz2007 wrote: »

yes insurance is the cheapest i got for comprehensive, will they be ok with that?

as i said, i dont drive so if thats the going rate then it should be fine..:):)

wba31

rira wrote: »

However, you can be self employed, right? Or? I am just about to apply for a DRO, due to money issues/husband being FT student.

Yes you can be self employed, it is just directorship this is restricted

sarbaz2007

Been on phone to my local CAB for last 1.5 hours, finally got through and then told i have to go to a diffrent branch as they dont cover my area.

Call the other CAB told me no appointments available over the phone drop in Between 10 and 13, and take it from there.

Does this sound right?

scarlet55

sarbaz2007 wrote: »

Been on phone to my local CAB for last 1.5 hours, finally got through and then told i have to go to a diffrent branch as they dont cover my area.

Call the other CAB told me no appointments available over the phone drop in Between 10 and 13, and take it from there.

Does this sound right?

i think all CABs operate differently, i have quite a large one where i live...id drop in then and see what happens...:) i think in the drop in centers its on a first come first served basis...

Orville

sarbaz2007 wrote: »

Been on phone to my local CAB for last 1.5 hours, finally got through and then told i have to go to a diffrent branch as they dont cover my area.

Call the other CAB told me no appointments available over the phone drop in Between 10 and 13, and take it from there.

Does this sound right?

Yes pop in there, you will probably speak to a general advisor in the first instance who will take rough notes of what your problem is. He/she will then make you an appointment to see one of the debt advisors and you go from there.

sarbaz2007

Orville wrote: »

Yes pop in there, you will probably speak to a general advisor in the first instance who will take rough notes of what your problem is. He/she will then make you an appointment to see one of the debt advisors and you go from there.

Just need to find the time to go down now.
Thanks guys/gals, ill kepp you posted.

broken_spirit

sarbaz2007 wrote: »

Been on phone to my local CAB for last 1.5 hours, finally got through and then told i have to go to a diffrent branch as they dont cover my area.

Call the other CAB told me no appointments available over the phone drop in Between 10 and 13, and take it from there.

Does this sound right?

I've just got back from my local "drop in" CAB. Guess what?................No available debt advisors available for the next 4 mths! The gentleman I saw was very helpful, but they cannot offer me their services, unless I can wait up to 6mths, 2 see a debt advisor & then the wait 2 put the DRO thru. He phoned a local solicitors who are operating a drop in debt advice service & they are also able to complete your dro , but u have 2 apply 4 legal aid! Also he told me I would have 2 go 2 court & submit the DRO through the system & that I would also have 2 deal with the OR personnally on the phone. I'm sticking with NDL......7wks doesn't seem that long now