Debt Relief Orders (DRO) - Information & help thread

Bubbly85

Wow, I just read all 194 pages (and now my eyes and head are spinning!). But its been very useful, thanks moneysaving experts!!

Q) Many people in this thread have mentioned that just because you are registered to a car shown on the V5, it doesn't always mean you are the owner of the car. How will the Official Receiver know whether you are the owner of the car or just someone borrowing it (registered for insurance purposes) and driving it for now?

syed1

Hi all,
I've got loan and credit cards of under £13,000, I don't have any recourse to public funds, and I do not have any assets either. I'm out of job since last 3 months, I've stopped paying my creditors and cancelled all the direct debits apart from my phone contract. I've been managing it since last two months hoping that things will be fine but unfortunately it doesn't look good.
I'm married and my wife works but my debt has nothing to do with her if I'm not wrong, I recently contacted a debt advice charity and they wanted me to give them household income and expenditure and details of my wife.
I do not want my wife to be involved in it....what to do??????? plz help

wba31

syed1 wrote: »

Hi all,
I've got loan and credit cards of under £13,000, I don't have any recourse to public funds, and I do not have any assets either. I'm out of job since last 3 months, I've stopped paying my creditors and cancelled all the direct debits apart from my phone contract. I've been managing it since last two months hoping that things will be fine but unfortunately it doesn't look good.
I'm married and my wife works but my debt has nothing to do with her if I'm not wrong, I recently contacted a debt advice charity and they wanted me to give them household income and expenditure and details of my wife.
I do not want my wife to be involved in it....what to do??????? plz help

Either tell them it's nothing to do with her and you do not wish to include her (tell them she's unaware if you havent already told them she knows) or go elsewhere.
It can vary from place to place. I ask about husband/wife income to ensure that the budget is fair. for example you may earn £15k and wife earns £50k and you split the household costs 50/50, to me that isnt right. or you earn £15k each but you pay all the bills and the rent totalling £800 a month and she buys £250 a month food. there needs to be a fair split as although the debt charities are there to help you, if they are found to be allowing unfair budgets, the creditors will not co-operate in the future, which can be key for those not looking at insolvency options.
I have seen cases in the past where husband comes to us and tells us he pays majority of things then wife comes to us separately and tells us that actually she pays most the costs, but nothing can be done due to data protection. if they both look at bankruptcy the OR should spot it... but speaking to your advisors should clarify the position for you.

radio-jo

Has anyone here managed to get a mortgage (a regular one or shared ownership) after their DRO? Mine ended almost a year ago.

Is it not possible or is it something I could get if I had a decent deposit?

MadManCalpol

Hey guys,

My mother in law has a lodger who has an active DRO at her address at the moment and we wondered will that blacklist her address and affect her chances of getting credit ?

Thanks !

Orville

MadMan-JaMeS wrote: »

Hey guys,

My mother in law has a lodger who has an active DRO at her address at the moment and we wondered will that blacklist her address and affect her chances of getting credit ?

Thanks !

The address is never blacklisted. It's the person.

tadaa

hi, brand new, and sorry for butting in, took out a DRO 3.5 years ago, and was told that once the moratorium period etc was over with it would be like my debts never happened, yet I've just come back from seeing a mortgage advisor and been told certain mortgage companies may never touch me, and my boyfriend and I should be very caeful if we were to marry as I may affect his credit too. I'm devastated, and rather annoyed as I was told a DRO wouldn't be so bad as bankruptcy and yet in the eyes of the lenders it is. I feel so naïve, have I messed up my life with regards to credit? many thanks

wba31

tadaa wrote: »

hi, brand new, and sorry for butting in, took out a DRO 3.5 years ago, and was told that once the moratorium period etc was over with it would be like my debts never happened, yet I've just come back from seeing a mortgage advisor and been told certain mortgage companies may never touch me, and my boyfriend and I should be very caeful if we were to marry as I may affect his credit too. I'm devastated, and rather annoyed as I was told a DRO wouldn't be so bad as bankruptcy and yet in the eyes of the lenders it is. I feel so naïve, have I messed up my life with regards to credit? many thanks

the DRO will be on your credit file for 6 years, so some lenders wont offer you a mortgage until it comes off.
Your history will not affect your partner's credit rating, that is a lie, your credit score is your own. the only way it may affect things is that your score will be considered in joint applications.

Do some work to up your credit score again, and go through an independant ethical mortgage broker and you will find a decent deal out there...

stress.head11

I was approved for a DRO at the start of the month. I have since had a letter from my water company saying the amount owed is still payable. The account is in mine and my partners name so does this mean he is now accountable for the debt? He has no problem paying it, I just want to be sure he's allowed to without running the risk of having the DRO revoked.

Also StepChange said I could keep my mobile contract as its the only phone I have access to. When it comes to upgrade, am I allowed to? I'd really like a cheaper plan and maybe a better phone, mine is on its last legs! My partner pays the bill by dd but the contract is in my name.

kayester

Ok so I figured I wouldnt read through all 195 pages to see if anyone has asked this question...

I had a DRO in 2010 which obviously cleared in 2011. I have recently looked at my credit report and 2 of those arent showing as satisfied. I have contact both of those only to be passed around to a lot of people and I dont think anything is getting done....so I have sent proof of completion to both experian and equifax via email, Only just sent them off today so wondering if anyone has experienced this, and could give me any sort of timescale?
thanks