Debt Relief Orders (DRO) - Information & help thread

hopeful123_2

second and final question, in relation to future prospects, if ever i wanted to go from being self employed working with freelancers, into an incorporated company, is it true i could only do this after 6 years, or could i in theory be a director of an ltd after the 12 month DRO period is finished?

fatbelly

hopeful123 wrote: »

im self employed variable earnings but < £50 disposable / month, assets < £300, basically im dro eligible but very concerned about whether it is acceptable to continue 'trading'..... being self employed, i have a trading name and work with a few other self employed free lancers, does this count as a business? i know i cannot be a director of a ltd company, but can i continue to be self employed with a website / trading name?

hopeful123 wrote: »

second and final question, in relation to future prospects, if ever i wanted to go from being self employed working with freelancers, into an incorporated company, is it true i could only do this after 6 years, or could i in theory be a director of an ltd after the 12 month DRO period is finished?

Have you read National Debtline's guide

Factsheet Debt relief orders

and the official guide?

Debt Relief Orders

From the former:

The main restrictions are as follows.
•You must not take out credit of £500 or more without telling the lender that you have a DRO.
•You cannot run a business in a different name without telling everyone you do business with the name you used for your DRO.
•You cannot be involved with the promotion, management or formation of a limited company, or become a company director without getting permission from the court.
•You may not hold certain public offices.
•You cannot apply for a DRO again for six years.

chillimaid

chillimaid wrote: »

Checked the Insolvency website at 7am, and the gentleman I have been helping was on there.I'm a Carer)
One thing I did with CCCS's permission instead of sending off for a paper Experian report, it was got online and printed off.
As I have permission to check on things I checked the searches on Experian and on the 19th March the Insolvency had performed 2 searches themselves.
I knew they did more checks but just to let other folk know really.
The application was put through on Friday 16th mid afternoon, so can I just ask even though the order was granted on the 19th all debts are from the 16th March when it was submitted?

Thanks for help on this board:j

***Bump***

milk

In a couple of weeks it will be a year since I was granted a DRO. My question to all you knowledgable people is what happens next?

Will someone get in touch with me or do I have to make a phone call as the 12 months will be up.

Thank You for any help in advance.

chillimaid

milk wrote: »

In a couple of weeks it will be a year since I was granted a DRO. My question to all you knowledgable people is what happens next?

Will someone get in touch with me or do I have to make a phone call as the 12 months will be up.

Thank You for any help in advance.

They don't ring you up it's just automatic, keep your DRO letter with your number on as proof. Also Experian will probably have the ''satisfied'' date on. I have checked on behalf on the gentleman I look after and on Experian it is already registered and also says ''Satisfied'' 19th March 2013!

PS Love your Black Cat!

milk

chillimaid wrote: »

They don't ring you up it's just automatic, keep your DRO letter with your number on as proof. Also Experian will probably have the ''satisfied'' date on. I have checked on behalf on the gentleman I look after and on Experian it is already registered and also says ''Satisfied'' 19th March 2013!

PS Love your Black Cat!

Thank You

So I just check the date on the letter I got to say DRO approved and from that date all should be cleared?

I remember going through it all and it was clearly explained to me every step of the way but once approved I didn't seem to get any advice on what happens next.

I shall have a look on Experian over the weekend and see what it says about me.

PS She's a pretty cat it's the white one that lives here that causes the problems!!!!:rotfl:

chillimaid

milk wrote: »

Thank You

So I just check the date on the letter I got to say DRO approved and from that date all should be cleared?

I remember going through it all and it was clearly explained to me every step of the way but once approved I didn't seem to get any advice on what happens next.

I shall have a look on Experian over the weekend and see what it says about me.

PS She's a pretty cat it's the white one that lives here that causes the problems!!!!:rotfl:

Yes keep the letter as that is your proof and it's 12 month's from the date you were granted the dro. I am a Carer and helped a gentlemen with the help of the CCCS.
I checked his Experian file today (I have permission!) and it was all there: DRO 19th March 2012 and the satisfied date 19th March 2013. It's good it is so clear really!
Did you ever hear of the Insolvency people whilst going through the DRO 12 month period?

sarbaz2007

My dro is due to end in june. I recieved a letter from social fund a few months ago (6 months after dro) that i have to pay x amount, i told them i have a DRO and sent in copy of the order but i have now recieved another letter from them to say we will write back to you after 21/june (this the dro end date) about how to pay.

Is this a standard letter they send out or does it imply that i owe them this money as i thought this was written off at the end of the dro?

Orville

milk wrote: »

Thank You

So I just check the date on the letter I got to say DRO approved and from that date all should be cleared?

I remember going through it all and it was clearly explained to me every step of the way but once approved I didn't seem to get any advice on what happens next.

I shall have a look on Experian over the weekend and see what it says about me.

PS She's a pretty cat it's the white one that lives here that causes the problems!!!!:rotfl:

It should say satisified yes. But be aware that it still shows on the IS website for 3 months after the date. Also give it a month or two then check your credit file again and make sure all debts that were on the dro are now showing as settled. If for any reason some are not you will need to ring the IS and get them to send you a satisified letter as the origional letter only has the start date on it, for all your creditors know the dro could have been revoked so they will need to see the letter as proof.

Orville

sarbaz2007 wrote: »

My dro is due to end in june. I recieved a letter from social fund a few months ago (6 months after dro) that i have to pay x amount, i told them i have a DRO and sent in copy of the order but i have now recieved another letter from them to say we will write back to you after 21/june (this the dro end date) about how to pay.

Is this a standard letter they send out or does it imply that i owe them this money as i thought this was written off at the end of the dro?

Did you include the social fund loan in the DRO?. I am not entirely sure if it comes under the terms of a DRO, i think they are exempt as it's owing money to the goverment.

Fatboy will be along soon to tell you for sure so just hang tight .

Just found this on a council website and it does say that social fund loans CAN be included.

http://www.blackpool.gov.uk/services/a-f/debtadvice/faqs/ihaveheardaboutdebtreliefordersordroswhatarethese.htm