📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Debt Relief Orders (DRO) - Information & help thread

Options
1318319321323324527

Comments

  • jamesd
    jamesd Posts: 26,103 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Good luck with it!
  • scarlet55
    scarlet55 Posts: 21,780 Forumite
    Rampant Recycler
    tankgirl1 wrote: »
    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
    hi tank girl....everything looks fine to me but i dont think u will b allowed birthday/christmas presents, or leisure, this will come out of your housekeeping, but u could put down home insurance......you should have this anyway....im sure you can get a free valuation from parkers....one of the experts will be along to advise you of this....you will need a proper one for the or....not just guess work im afraid....wen i went with the cab, they told me to download a copy of there soa from there website and fill it in....they are brilliant btw....mine took less than 3 weeks from start to finish, gud luck with it all....:):)
  • tankgirl1
    tankgirl1 Posts: 4,252 Forumite
    thanks scarlet:D

    Would value a few other opinions too if poss (no offence scarlet btw!)
    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
  • I think that maybe a D.R.O. is too drastic as you don't owe all that much...dont worry about it, wait until you see the C.A.B. person..or , if you want to have a look at the alternatives go onto C.C.C.s and do a debt remedy , it is free and will show you onscreen what is right for you, you may get more than one option re. how to get ion top of al this.
  • scarlet55
    scarlet55 Posts: 21,780 Forumite
    Rampant Recycler
    tankgirl1 wrote: »
    thanks scarlet:D

    Would value a few other opinions too if poss (no offence scarlet btw!)
    hi tankgirl...no offence taken, dont worry..lol...i had loads of advice b4 i got my dro...(nearly 12 weeks now)....iff u get an AI that was as good as mine u'l have no probs......she put down £216 for my household expenditure...(i live alone)and this included things like haircuts, magazines tobacco ect, so for 2 of you i would think that u cud increase ur food, cuz as i say, it includes other things too...you will be fine, dont worry, iff your income consists of only benefits, you will definately be able to do a dro....:)
  • Hi to anyone reading! I appreciate my newbie status (through lack of posts as opposed to age of account), but I hope I can ask a quick question regarding DROs.

    I'm about to apply for one and I'm currently on Income Support as I'm signed off from working on medical grounds. I'm hoping to be back to work inside of a year (before the year's end if possible) and I'm wondering how things tend to work if I do? I've read that if my circumstances improve, the DRO will be ended (is that right) and I'll be expected to start repaying my creditors.

    If this is the case, then am I in essence taking a massive whack on my already poor credit record, merely to get my creditors off my back until such a time as I'm working again? I'm a little uncertain as to how this all works, and while I'm at present not in a position to offer my creditors any reasonable amount, I presume I would be when I return to work (full-time). I imagine I'll only be in the running for low-income jobs initially, I intend to start career building a bit further down the line once I'm back into the swing of working life.

    Any information that someone could offer would be greatly appreciated, as I don't necessarily want to go through with it if it's going to have such a detrimental effect, only to then put me back where I am now when I have slightly more money coming in!!!
  • scarlet55
    scarlet55 Posts: 21,780 Forumite
    Rampant Recycler
    dannyb0yuk wrote: »
    Hi to anyone reading! I appreciate my newbie status (through lack of posts as opposed to age of account), but I hope I can ask a quick question regarding DROs.

    I'm about to apply for one and I'm currently on Income Support as I'm signed off from working on medical grounds. I'm hoping to be back to work inside of a year (before the year's end if possible) and I'm wondering how things tend to work if I do? I've read that if my circumstances improve, the DRO will be ended (is that right) and I'll be expected to start repaying my creditors.

    If this is the case, then am I in essence taking a massive whack on my already poor credit record, merely to get my creditors off my back until such a time as I'm working again? I'm a little uncertain as to how this all works, and while I'm at present not in a position to offer my creditors any reasonable amount, I presume I would be when I return to work (full-time). I imagine I'll only be in the running for low-income jobs initially, I intend to start career building a bit further down the line once I'm back into the swing of working life.

    Any information that someone could offer would be greatly appreciated, as I don't necessarily want to go through with it if it's going to have such a detrimental effect, only to then put me back where I am now when I have slightly more money coming in!!!
    hiya danny......iff you earn a good wage then there is a chance that your dro could be revoked, but on the other hand iff you start work then your expenditure will increase...ie, you will no longer get housing or council tax benefit....plus you will have busfares and packed lunches to pay for...as long as you are still under the £50 when everything has been paid you will be fine.....but iff it does get revoked, not only will your debts be back but also any interest that will have accrued...you will have to weigh up all the pro's and con's....hope this helps....:)
  • 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, I just wantd 2 say congratulations........bit late in the day............pc problems............lol. I'm so pleased it all turned out well 4 u.
    Just an update on my own DRO circumstances, I'm now in2 week 11 of my forms been submitted 2 NDL...............& I'm still waiting!!!!!!!!
    I am a Leo...& as such I will defend my "pride" ferociously....you have been warned!
  • broken_spirit
    broken_spirit Posts: 743 Forumite
    edited 27 June 2011 at 7:35PM
    tankgirl1 wrote: »
    thanks scarlet:D

    Would value a few other opinions too if poss (no offence scarlet btw!)

    Hi tankgirl, Im currently in the process of applying 4 my own DRO, my debts total no more than 7.5K (which is more than enough) But i cannot maintain my payments. I 2 am on benefits & a DRO was my only option, I took advice...........but i knew i couldnt manage any other way. I went with NDL & as u will see above I have been waiting more than 11 weeks 4 my application 2 be looked at by an AI. Take advice by all means, it's the sensible way 2 go & obviosly u will need the help of 1 of the charitable organisations should u wish 2 proceed, but make sure whatever u choose 2 do is the correct option 4 u. Good luck with it :)
    I am a Leo...& as such I will defend my "pride" ferociously....you have been warned!
  • wba31
    wba31 Posts: 2,189 Forumite
    tankgirl1 wrote: »
    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

    Think you are perfect for a DRO, I wouldnt change anything about your SOA or circs. The car value isnt an issue as it cannot be disproved for free, and it's only a Nissan Micra (I'm not dissing, i LOVE the Micra, my first 3 cars were Micra's but i loved each one too death... honest - 3 blown engines... oops!)

    Get an appointment with CCCS, CAB or NDL and get some advice from them, but on the face of what you have posted here a DRO could be good for you
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.1K Banking & Borrowing
  • 253.2K Reduce Debt & Boost Income
  • 453.6K Spending & Discounts
  • 244.1K Work, Benefits & Business
  • 599.1K Mortgages, Homes & Bills
  • 177K Life & Family
  • 257.5K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.