Debt Relief Orders (DRO) - Information & help thread

fatbelly

adarajames wrote: »

Also, the only investment I have is a gift of a £100 in premium bonds. Will I have to cash this in to pay creditors, or would I be allowed to keep this? My bank accounts are all 0 or at the limit of the overdraft facilities, so there really isn't any other asset I have as far as I can work out

I didn't comment on this post cos I thought Orville had done a good job of covering the points.

On the premium bonds issue, Martin's helpful calculator can tell you the chances of £100 of bonds winning £200 or more in a 12-month period, and thus breaching the asset limit for a DRO.

The answer is 1 in 8015.

em80

Hi

I've just taken out a debt relief order, In october I'm due to get a study grant of £265( for books, study materials etc) to last me the year, I've now just received a letter from the tax office saying they owe me £188. Does this mean my DRO will fail?

hethmar

I think the books/study materials would be exempt - tools of trade are.

em80

hethmar wrote: »

I think the books/study materials would be exempt - tools of trade are.

Yeah, it's not for living expenses or anything like that.

Cheers

caz2003uk

scarlet55 wrote: »

im so so pleased for you caz......:T:T:T..it was all worth it in the end.....now relax and enjoy the rest of ur time off work..:beer:

Well I can officially say I thoroughly enjoyed my break away thanks to my boyfriend! The most beneficial factor being that I was able to relax in the knowledge that my property would be ok!

I came home to the letter from the IS confirming everything, and also a letter from Alexander James (essex & suffolk water) telling me i've failed to keep up repayments to an arrangement (they never agreed to an arrangement with me as they were so difficult to deal with) My DRO now runs from 02/09/2011 and the AJ letter was dated 05/09/2011...should i contact them or assume they will now have received the DRO information?

Orville

caz2003uk wrote: »

Well I can officially say I thoroughly enjoyed my break away thanks to my boyfriend! The most beneficial factor being that I was able to relax in the knowledge that my property would be ok!

I came home to the letter from the IS confirming everything, and also a letter from Alexander James (essex & suffolk water) telling me i've failed to keep up repayments to an arrangement (they never agreed to an arrangement with me as they were so difficult to deal with) My DRO now runs from 02/09/2011 and the AJ letter was dated 05/09/2011...should i contact them or assume they will now have received the DRO information?

Personally i'd save my time and money and let them contact you. If you contact them chances are they will still hassle you for money.

caz2003uk

Orville wrote: »

Personally i'd save my time and money and let them contact you. If you contact them chances are they will still hassle you for money.

Thanks for that!

I have contact british gas today, as i am sure they had still been taking money from my electric meter for debt that is on the DRO. I know this because I was away from my property for 8 days, the only things plugged in was the fridge and freezer and over £7 was gone!

I emailed a woman i had been dealing with and she emailed back to say they had received the information regarding my DRO and that the message for the meter will be available for collection from tomorrow, and any money paid that shouldnt have been will be put back onto my meter with that message!

So from that I would say all the companies should have received the letter from the IS

em80

Hi

How long does it take to find out if your DRO has been successfull?

caz2003uk

em80 wrote: »

Hi

How long does it take to find out if your DRO has been successfull?

It will be showing up on the Insolvency Service Website within 48 hours of the application being paid and received!

Mine was applied for on the wednesday, I received the letter with barcode on Thursday, paid this and sent the form back recorded tracked delivery that same day, and by Saturday morning my name was there and it was approved!

When was it applied and paid for?

fatbelly

em80 wrote: »

Hi

How long does it take to find out if your DRO has been successfull?

Your Intermediary normally receives an e-mail the day after submission.

You appear on the Insolvency Service website probably the following day.

You get a letter from them after about three days.