Debt Relief Orders (DRO) - Information & help thread

gavinh_2

is a cd/dvd collection includable as an "asset"?

debt_doctor

Godiva500 wrote: »

Hi
Are we talking about pensions for the future. I am a pensioner in receipt of state and normal works pensions. I am still on low income with less than £50 surplus etc.Would they be included, or do you mean extra pensions other than works pensions?

Hi,

From the information we have been given by the insolvency service, if you have a pension fund ( private, works, or SERPS opt out ) that is worth more than £ 300 then you cannot have a DRO.

I do not believe you qualify for a DRO based on your works pensions. You need to discuss this with whoever assists you with your application. If a pension fund of more than £300 is discovered then the DRO will be revoked and the £ 90 fee will be lost.

DD

Godiva500

Hi
Surely that will include nearly everyone who has worked and is or was in a pension fund, except maybe wives who do not work or someone who has never worked or only done part time? Would this not mean that 90% of the poulation would not qualify? Is that the intention?

debt_doctor

Pensions were not even mentioned in the training of the 'authorised Intermediaries'. The info that excludes all pension funds worth more than £ 300 was sent to us 3 days after DRO's came in to force.

I dont know what their thinking is, or if there has been any thinking on this issue. It makes no sense whatsoever to deny a DRO just because there is a pension fund, but that is how the law stands at the moment.

DD

ccvictim

real bad thinkin as ppl could be in trouble now but not due to recieve they measily £10/week pension for 30yrs :rolleyes:

debrag

what are max for gas, electric, water etc?

ccvictim

Q. on revoked DRO's
i'm granted my DRO and six months in circumstances change and can now afford to pay a little to creditors? i was under the impression this would be so until the 12mths is up from the date of the dro then the debts will be written off?

debrag

isn't the DRO stopped? I had the impression that you wouldn't be able to pay them anything with only a £50 surplus so if you could afford to you would be over this limit.

Widelats

debrag wrote: »

isn't the DRO stopped? I had the impression that you wouldn't be able to pay them anything with only a £50 surplus so if you could afford to you would be over this limit.

they are available in small payments over 6 months. You can save what you were going to pay your bills with and pay the DRO outright as well.

debrag

I though he was talking about the creditors not the fee, maybe I've just missed something lol