Debt Relief Orders (DRO) - Information & help thread

hazcad

I'm wondering if anyone can answer my questions,

I have been in the process of doing a DRO for the last 2 months with C.A.B. who have been dragging their feet and taking ages to sort things, they have now come back to be stating my debts go over the 15k limit.

However, 1 of the debts on my credit report is at the 6 year mark this July, does this need to be included as come the end of my DRO it wont be owed.

I also have 2 that are at the 6 year mark 7/13 and 12/13.

Do ALL debts have to be included, theirs not much info on this, I have debts that are not on my credit report I owe from years back that haven't made it to 6 years, but have people like Lowell Group and Robinson Way pestering me for (only in the last 6 months even though the debts are years old, almost 4-5 years), do these need to be included as c.a.b wouldn't have had any record of them if I hadn't told them about them.

I also have a debt that Robinson Way are pestering me about that is 8 years old but is not on my credit report, I provided the C.A.B. with this letter and they were going to include this on the DRO before I went over the 15k mark.

I'm sure their may be a couple of debts lurking in the closet I can't remember when happens if these arise during or after the DRO has finished?

I'd ask the C.A.B. I am dealing with but they only seem to go get their loyal handbook and read it out to e which makes no sense and doesn't get my question answered if it's not in there.

FraudBuster

hazcad wrote: »

I'm wondering if anyone can answer my questions,

I have been in the process of doing a DRO for the last 2 months with C.A.B. who have been dragging their feet and taking ages to sort things, they have now come back to be stating my debts go over the 15k limit.

However, 1 of the debts on my credit report is at the 6 year mark this July, does this need to be included as come the end of my DRO it wont be owed.

I also have 2 that are at the 6 year mark 7/13 and 12/13.

Do ALL debts have to be included, theirs not much info on this, I have debts that are not on my credit report I owe from years back that haven't made it to 6 years, but have people like Lowell Group and Robinson Way pestering me for (only in the last 6 months even though the debts are years old, almost 4-5 years), do these need to be included as c.a.b wouldn't have had any record of them if I hadn't told them about them.

I also have a debt that Robinson Way are pestering me about that is 8 years old but is not on my credit report, I provided the C.A.B. with this letter and they were going to include this on the DRO before I went over the 15k mark.

I'm sure their may be a couple of debts lurking in the closet I can't remember when happens if these arise during or after the DRO has finished?

I'd ask the C.A.B. I am dealing with but they only seem to go get their loyal handbook and read it out to e which makes no sense and doesn't get my question answered if it's not in there.

Do you currently have debts totalling over £15,000?

If the reply is yes then you are not eligable for a DRO.

Visit the Bankruptcy Board.

immoral_angeluk

hazcad wrote: »

I'm wondering if anyone can answer my questions,

I have been in the process of doing a DRO for the last 2 months with C.A.B. who have been dragging their feet and taking ages to sort things, they have now come back to be stating my debts go over the 15k limit.

However, 1 of the debts on my credit report is at the 6 year mark this July, does this need to be included as come the end of my DRO it wont be owed.

I also have 2 that are at the 6 year mark 7/13 and 12/13.

Do ALL debts have to be included, theirs not much info on this, I have debts that are not on my credit report I owe from years back that haven't made it to 6 years, but have people like Lowell Group and Robinson Way pestering me for (only in the last 6 months even though the debts are years old, almost 4-5 years), do these need to be included as c.a.b wouldn't have had any record of them if I hadn't told them about them.

I also have a debt that Robinson Way are pestering me about that is 8 years old but is not on my credit report, I provided the C.A.B. with this letter and they were going to include this on the DRO before I went over the 15k mark.

I'm sure their may be a couple of debts lurking in the closet I can't remember when happens if these arise during or after the DRO has finished?

I'd ask the C.A.B. I am dealing with but they only seem to go get their loyal handbook and read it out to e which makes no sense and doesn't get my question answered if it's not in there.

ALL debts much be declared on a DRO, even if statute barred. That is because the debts don't disappear after 6 years, they're just not enforceable through court.
Therefore if your debts are over 15 k you are currently not eligible for a DRO so you have 2 options:
-Look at other options such as bankruptcy
-Repay a portion of your debts (pro rata to ensure fairness) to bring the debt under 15k and then apply for a DRO.


If debts are missed off and later come up, you would be liable for these debts as they cannot be included. If those debts also took you over the 15k limit your DRO would be revoked and you would be back at square one.

If you have debts 'lurking in the closet' I would suggest you consider bankruptcy instead, as this will discharge all debts due at the date of the BR order regardless of whether they crop up post BR.

Also in defence to CAB, the DRO eligibility is strict and not very flexible, hence why they may refer to their 'loyal handbook'. They will also have hundreds of other clients besides yourself, so sometimes it's evitable that you'll have to wait longer than you'd like.

RainbowDreamer

I hoped you may be able to help as i am rather confused. My dro ended on 21st Feb, so today i checked my credit file online with credit expert.
Under bankrupcy etc it shows my dro.. but under credit agreements etc it shows my current bank account, one debt with avon as settled and a joint bank account that I had my name taken off before I had my dro. That says settled.
But nothing else shows.. no debts that were added to my dro. And no debts that I fully paid off a few years ago.
It also says my credit rating is good. I'm confused. Is it wrong? Or do my debts not show up on my credit file now?

chillimaid

Just an update, sent all the documents back, double checked them and sent them by tracked post.
today received a letter to say you left out 2 statements, going off the Experian credit file, Co-op bank statement, this was sent in as a Smile Bank Statement. Required a Halifax credit card statement. this was sent in as an Aqua card statement.

I'd of thought CCCS would be aware that companies trade in different names. I think in regards to Aqua card the Halifax underwrite the card, so it's in their name on Experian.

I am a Carer helping a person do a DRO amd I feel quite frustrated!

fatbelly

chillimaid wrote: »

Just an update, sent all the documents back, double checked them and sent them by tracked post.
today received a letter to say you left out 2 statements, going off the Experian credit file, Co-op bank statement, this was sent in as a Smile Bank Statement. Required a Halifax credit card statement. this was sent in as an Aqua card statement.

I'd of thought CCCS would be aware that companies trade in different names. I think in regards to Aqua card the Halifax underwrite the card, so it's in their name on Experian.

I am a Carer helping a person do a DRO amd I feel quite frustrated!

That does sound a bit dim, to be honest.

sarbaz2007

Hi, I have a question about bank account overdraft which is currently £150 and every month charged interest of a few pounds only and this is mixed along with other regular transaction luke tax credits and so on.
Now would this have to be included on DRO or can it be exclude it as this is the main account for day to day transaction? Also would there be a problem if next time i get money into the account to cancel the overdraft or would this be counted as a prefred creditor even if you still have not aplied?

fatbelly

sarbaz2007 wrote: »

Hi, I have a question about bank account overdraft which is currently £150 and every month charged interest of a few pounds only and this is mixed along with other regular transaction luke tax credits and so on.
Now would this have to be included on DRO or can it be exclude it as this is the main account for day to day transaction? Also would there be a problem if next time i get money into the account to cancel the overdraft or would this be counted as a prefred creditor even if you still have not aplied?

The rules are that all debts must be listed and the balances quoted are those for 'the day of determination'. In most cases that is going to be the day after the application is submitted. If it differs from that, well we would need a crystal ball.

If you submit the DRO on a day (well the day before) when the account is in the black then it does not need to be listed and so the bank will not be contacted. If it's just normal income going in then it's not a preference.

Three things to bear in mind:

If you have other debts to that bank, then your account may be closed anyway

If you are close to the 15k limit then your Experian Credit Report may be showing an overdrawn balance and if the total on your report is over 15k then the application is declined, unless your Intermediary sees this coming and alerts the DRO Unit.

You are not allowed credit of more than £500 during the moratorium period.

sarbaz2007

fatbelly wrote: »

The rules are that all debts must be listed and the balances quoted are those for 'the day of determination'. In most cases that is going to be the day after the application is submitted. If it differs from that, well we would need a crystal ball.

If you submit the DRO on a day (well the day before) when the account is in the black then it does not need to be listed and so the bank will not be contacted. If it's just normal income going in then it's not a preference.

Three things to bear in mind:

If you have other debts to that bank, then your account may be closed anyway

If you are close to the 15k limit then your Experian Credit Report may be showing an overdrawn balance and if the total on your report is over 15k then the application is declined, unless your Intermediary sees this coming and alerts the DRO Unit.

You are not allowed credit of more than £500 during the moratorium period.

So, should the overdraft be cancelled before i make the application or should i just leave and not include it on the dro? thanks

sarbaz2007

Would you have to declare a car if it is in your partners (wife) name? Paid for by her but log book in my name?

I was told technically i would declare not owing a car because its not mine, i wanted to confirm before i make a dro and it gets refused for me not declaring it.