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Debt Relief Orders (DRO) - Information & help thread

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  • wba31
    wba31 Posts: 2,189 Forumite
    Park your car on any high street on a Friday or Saturday night and when you return it will be worth less than £1,000.

    As an alternative try one of the we buy your car sites.

    never use a we buy your car site for an accurate valuation, they undervalue cars so they can sell them on for a profit. For example i sold a car last year for £5000, one of these websites with catchy advert songs offered me £2700 for it.
    My current car which is worth approx £3000 generated an offer of £1900.

    If anyone sends me a "valuation" from these websites we cannot use it, it has to be parkers and parkers only. If the car is too old to get a free valuation from parkers it is up to the person applying for the DRO to be honest in their valuation of the car. we may check the oldest car possible to check it lines up, but when it comes to the end of it, the person applying for the DRO signs the declaration that acknowledges they have been completely honest, and are liable for prosecution if they are found to be untruthful in their application
  • wba31
    wba31 Posts: 2,189 Forumite
    hazza04 wrote: »
    Thanks everyone. well private poor price is £895 so im hoping should be ok, ive had it 7 years so would be gutted to lose it althogh i know this could be the price i pay and i know would be worth it.....I guess a few little scratches may help.....im joking....i wouldnt......

    If you had a car worth more than £1000 and you proceeded with a DRO you wouldn't lose your car, the DRO would simply be revoked and you would lose your £90 fee.

    From what I've looked at regarding corsa's, if you listed it as fair (if it is in fair condition) and you valued it at £950 I'd have no reason to question otherwise...
  • Penelope_Penguin
    Penelope_Penguin Posts: 17,242 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker I've been Money Tipped!
    wba31 wrote: »
    If the car is too old to get a free valuation from parkers it is up to the person applying for the DRO to be honest in their valuation of the car.

    If someone comes to me in this situation, they often have no real idea how much their car is worth. I advise them to get a valuation (or two), on headed paper, from a reputable garage.
    :rudolf: Sheep, pigs, hens and bees on our Teesdale smallholding :rudolf:
  • wba31
    wba31 Posts: 2,189 Forumite
    If someone comes to me in this situation, they often have no real idea how much their car is worth. I advise them to get a valuation (or two), on headed paper, from a reputable garage.

    Interesting. In my office we only do that if the value is questionnable, ie - too old for parkers, but browsing autotrader shows that these cars are selling for much more.

    I'm a bit of a petrol head so i spend a lot of time on autotrader/parkers/msn cars etc
  • fatbelly
    fatbelly Posts: 22,993 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Cashback Cashier
    wba31 wrote: »
    Interesting. In my office we only do that if the value is questionnable, ie - too old for parkers, but browsing autotrader shows that these cars are selling for much more.

    I'm a bit of a petrol head so i spend a lot of time on autotrader/parkers/msn cars etc

    I use wisebuyers - as long as I've got something in my file to justify the figure I'm putting down, I'm happy.
  • hazza04
    hazza04 Posts: 43 Forumite
    fatbelly wrote: »
    I use wisebuyers - as long as I've got something in my file to justify the figure I'm putting down, I'm happy.

    Thanks for the wisebuyers link...put my car details in and this is what it came back with

    Retail:£2,845
    Private Good:£2,055 Private Average:£1,255 Private Poor:£735 Part Exchange:£1,465 Trade:£1,280

    The prices seem a little higher than i thought they would be....Mind you by the time the tax credits people get my new award notice sent out it will prob be half these prices!!!!
  • sarbaz2007
    sarbaz2007 Posts: 57 Forumite
    Hi Guys, As you might recall i went through CCCS and i can only say the service they provide is excellent and extremely fast turnover.

    Got approved on thursday paid fee on monday and i just checked an i am on the insolvency website register:j:beer::j. I have yet to receive any letter confirmation but does that mean i have been accepted?

    I am so happy its finally over i can only recommend that you do it through CCCS as it so hassle free and though i talked to a different person each time, all wanted to help.

    I want to thank all you guys/gals here were your help as this was invaluable specially broken spirit, wba31 and fatbelly.:A

    Just one last thing i think my tax credits will increase about £10 this year do i need to inform anyone, i still am well within the £50 threshold?
  • Penelope_Penguin
    Penelope_Penguin Posts: 17,242 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker I've been Money Tipped!
    sarbaz2007 wrote: »
    Got approved on thursday paid fee on monday and i just checked an i am on the insolvency website register:j:beer::j. I have yet to receive any letter confirmation but does that mean i have been accepted?

    It does - congratulations :beer: I'm an AI, and I get confirmation by e-mail within about 48hours of the DRO approval. The client does, too, if they've provided an e-mail address on their application.

    Contact your AI and ask if they can send you a copy of the DRO confirmation letter. They should be able to e-mail it to you.
    :rudolf: Sheep, pigs, hens and bees on our Teesdale smallholding :rudolf:
  • scarlet55
    scarlet55 Posts: 21,780 Forumite
    Rampant Recycler
    sarbaz2007 wrote: »
    Hi Guys, As you might recall i went through CCCS and i can only say the service they provide is excellent and extremely fast turnover.

    Got approved on thursday paid fee on monday and i just checked an i am on the insolvency website register:j:beer::j. I have yet to receive any letter confirmation but does that mean i have been accepted?

    I am so happy its finally over i can only recommend that you do it through CCCS as it so hassle free and though i talked to a different person each time, all wanted to help.

    I want to thank all you guys/gals here were your help as this was invaluable specially broken spirit, wba31 and fatbelly.:A

    Just one last thing i think my tax credits will increase about £10 this year do i need to inform anyone, i still am well within the £50 threshold?
    hi sarbaz...congratulations....:T:T:T:T:T:T...bet ur glad its over at last......i think i got my approval letter 2-3 days after seeing my name on the insolvency register......i dont think the extra £10 will make a difference but iff ur worried just phone the OR up and mention it.....im into my 11th week now.....dont know where the times gone..lol...............well done again....:beer:
  • tankgirl1
    tankgirl1 Posts: 4,252 Forumite
    edited 24 June 2011 at 8:27PM
    Hi all

    I am hoping you wonderful people can help me! I have an appt with a CAB debt advisor next week, after being referred there by the standard CAB advisor. I am hoping he will suggest a DRO, so I have done my SOA, and would just appreciate it if you could look it over and see if it is OK?


    1 Adult, 1 Child, 1 Car

    Income = 617.50 (not incl HB & CTB)

    Rent = 0 - HB
    Council Tax = 0 - CTB
    Gas & Electricity = 94.00
    Water = 35.56
    TV Licence = 12.37
    Land line = 15.10
    Sky TV = 21.50
    Mobile Phone = 20.00
    Car Insurance = 45.00
    Home Insurance = 0.00
    Pet Care = 20.00
    Groceries = 250.00
    Clothing = 20.00
    Car Tax/Maintenance = 15.00
    Petrol = 20.00
    Birthdays/Christmas = 10.00
    Pocket money/leisure = 20.00
    Internet = 20.00

    Total = 618.53


    Income - Outgoings = minus £1.03 :eek:


    ETA - I bought my car (2001 micra) for £1300 2 yrs ago, but since then have managed to get a dent, and the passenger window and radio don't work! The upholstery has also been thoroughly wrecked by dog hairs/child spilling sticky stuff everywhere!
    I looked on Parkers and would have to pay to get a valuation, but a similar age/model was approx £500 private poor condition. Personally I think my wee banger is only worth £300 tops! Only assests are £10 premium bonds :rotfl:

    All unsecured debts, around the £5k mark, with one CCJ for just over £1k
    I don't know half of you half as well as I should like, and I like less than half of you half as well as you deserve.

    RIP POOCH 5/09/94 - 17/09/07
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