Debt Relief Orders (DRO) - Information & help thread

jasonwatkins

scarlet55 wrote: »

hi jason, you sound perfect for a dro..your mobile should be fine iff you have no debt with it...my adviser put my virgin contract down as 'other' on my expenditure..failing that just add a bit more on your housekeeping and pay it out of that...hope this helps..good luck..:(

Thanks for that - that's good to know. I've wanted to do one for some time but i've got a JD Williams catalogue account that i've kept in fairly good order and I was trying to pay that off so I could keep it in case i needed to get anything.

I think I came to terms with the fact that I don't really need it a few days ago, so that's why I'm looking at the DRO now.

scarlet55

jasonwatkins wrote: »

Thanks for that - that's good to know. I've wanted to do one for some time but i've got a JD Williams catalogue account that i've kept in fairly good order and I was trying to pay that off so I could keep it in case i needed to get anything.

I think I came to terms with the fact that I don't really need it a few days ago, so that's why I'm looking at the DRO now.

when you go to get advice, have a word with your adviser, they may say its ok to keep it on as you are not in debt with it...but bear in mind you cannot have credit of £500 or more without telling them you have a dro..i had an account with very catalogue that was paid up long b4 i got my dro....a few weeks back i checked to see iff my account was still active and it was so i ordered something for £10 to see iff it would come...it did..so now im going to keep it going, just ordering bits and bobs...untill my dro ends...then iv always got something to fall back on in an emergency...

jasonwatkins

I've actually got a £1,300 credit limit with the catalogue because i've been so good, not ordered anything silly and always paid on time. So I'd have to tell them I s'pose.

They may well close it and make the decision for me, although i really don't think at the moment i'd honestly need it. It was useful for getting larger size clothes, but since i'm on a diet I probably won't need them .. hehe

scarlet55

jasonwatkins wrote: »

I've actually got a £1,300 credit limit with the catalogue because i've been so good, not ordered anything silly and always paid on time. So I'd have to tell them I s'pose.

They may well close it and make the decision for me, although i really don't think at the moment i'd honestly need it. It was useful for getting larger size clothes, but since i'm on a diet I probably won't need them .. hehe

as long as you dont order anything over £499 you will be ok....iff you have a good credit rating with them then i cant see them checking your credit report....iff as you say you dont need anything then i wouldnt bother.......my credit limit is £2000 but theres no way i want to get in debt again..:)

Orville

scarlet55 wrote: »

as long as you dont order anything over £499 you will be ok....iff you have a good credit rating with them then i cant see them checking your credit report....iff as you say you dont need anything then i wouldnt bother.......my credit limit is £2000 but theres no way i want to get in debt again..:)

Actually i think that maybe wrong.

I don't think you are allowed assets over £300 so if he ordered a telly at say £450 that may nullify his dro eligibility.

If however he kept the value of each purchase under £300 i would say he would be fine.

(I maybe wrong though).

jasonwatkins

My assets, as they are, probably total only a shade under £300 quid.

I've got a desktop PC which is over 5 years old, so would likely fetch no more than £100. I've got a flatscreen television, but that was actually given to me by my mum. That said, at current market value, considering it's a generic brand (Proline) and also over 5 years old, that might stretch to £150.

I've got a blu-ray player that was bought for me as a birthday present a few years back, but i've had that in cash converters enough times to know it's only worth about £30 quid.

And that really is it for anything of value. Obviously I own my fridge freezer, washing machine e.t.c, but they really wouldn't fetch anything - especially the fridge freezer as I think it's almost as old as i am

So I think i'd be pushing my luck big time with the catalogue, unless it was clothes or anything deemed essential.

scarlet55

Orville wrote: »

Actually i think that maybe wrong.

I don't think you are allowed assets over £300 so if he ordered a telly at say £450 that may nullify his dro eligibility.

If however he kept the value of each purchase under £300 i would say he would be fine.

(I maybe wrong though).

i didnt say that he could buy ONE thing for £499...i meant iff he wanted bits and bobs he would have to keep the value under that amount, otherwise he will have to tell the catalogue he has a dro..

scarlet55

jasonwatkins wrote: »

My assets, as they are, probably total only a shade under £300 quid.

I've got a desktop PC which is over 5 years old, so would likely fetch no more than £100. I've got a flatscreen television, but that was actually given to me by my mum. That said, at current market value, considering it's a generic brand (Proline) and also over 5 years old, that might stretch to £150.

I've got a blu-ray player that was bought for me as a birthday present a few years back, but i've had that in cash converters enough times to know it's only worth about £30 quid.

And that really is it for anything of value. Obviously I own my fridge freezer, washing machine e.t.c, but they really wouldn't fetch anything - especially the fridge freezer as I think it's almost as old as i am

So I think i'd be pushing my luck big time with the catalogue, unless it was clothes or anything deemed essential.

the OR wont be interested in normal household equipment..... unless you have a 3D 42inch telly of couse..lol...:)

jasonwatkins

scarlet55 wrote: »

unless you have a 3D 42inch telly of couse..lol...:)

.. *quickly hides telly in cupboard*

scarlet55

jasonwatkins wrote: »

.. *quickly hides telly in cupboard*

lmao...:)....