Debt Relief Orders (DRO) - Information & help thread

fatbelly

cwmparc wrote: »

Can somebody help me with a question please. My DRO has been accepted, but one of the debts may have been statute barred as I have not had any correspondence from the company in nearly 7 years.

If I contact the company using the template letter regarding statute barred debts, and if it was a barred debt, would this be taken off the DRO.

Thanks for your help.

If you go back a few posts to post #3999 you will see the official guidance on statute barred debts. Your intermediary was correct to include that debt and it stays now as part of your DRO.

If your total debts had been over 15k, and getting the creditor's agreement on that debt would have brought you back under 15k, only then would it have been worth investigating.

Leave that one alone now, and get on with your life.

cwmparc

Thanks, if it will make no difference I will do as you advise and leave well alone.

lukebetteralone

hi there, thanks for all the help on this thread.

my wife appiled for a dro on the 3rd jan and her name was on the insolvency list.

does that mean its bee accepted and what happens now??

thanks again

fatbelly

lukebetteralone wrote: »

hi there, thanks for all the help on this thread.

my wife appiled for a dro on the 3rd jan and her name was on the insolvency list.

does that mean its bee accepted and what happens now??

thanks again

If everything works perfectly, you submit the application, get accepted on the next working day and it goes on the register the day after that.

If it's now showing on the register she then has her DRO, though that all seems a bit fast. The intermediary would have been informed immediately by email but the debtor is (and some creditors are) informed by post, which takes a few days.

What to do now? Stop paying creditors (possible exception of current rent arrears) and get on with your life. If there's a problem, the DRO Unit will let you know. The vast majority just sail through the 12 months.

Further thoughts: joint debts will now generally squeeze over to you. Sometimes water and tax credit debts can be a bit 'odd' - post again if you have any problems.

lukebetteralone

sorry for previous post. it was late and i was very tired.

what i meant to say was that stepchange sent the dro application off on thursday as soon as i paid the £90 fee.

I checked friday and there was no entry for my wife.

I checked saturday 4th jan and there was an entry so i take it she has her dro and we can move forward out of the hard times.

thanks

Xaviera

Hi have received my application pack for DRO, have a query though, do I add my current account's overdraft of £1400 on there and if so I guess I need to bank with someone else?

wba31

Xaviera wrote: »

Hi have received my application pack for DRO, have a query though, do I add my current account's overdraft of £1400 on there and if so I guess I need to bank with someone else?

yes and yes.

Start your new DRO completely debt free.

Xaviera

wba31 wrote: »

yes and yes.

Start your new DRO completely debt free.

Thanks, my DRO says to provide bank statement, would they want to see my current one or my new one?

Alloneword

Xaviera wrote: »

if so I guess I need to bank with someone else?

I was told to get a new bank account up and running at the earliest stage as poss.
However that being said be careful they are not linked for example (the info i provide here is taken from this site here

http://www.moneysavingexpert.com/savings/safe-savings
http://www.which.co.uk/money/savings-and-investments/guides/are-my-savings-safe/who-owns-who-in-the-savings-market/
http://www.thisismoney.co.uk/money/saving/article-1630421/Savings-compensation-protection-Bank-ownership-licences.html

but make sure you check it's still current IE: who owns who)
If you bank with Lloyds NOW and owe them £1,400 DO NOT open a new account with any of the following Bank of Scotland, The AA, Birmingham Midshires/BM Savings, Intelligent Finance, Saga, or Halifax because they are all part of the same group and i was told funds can be taken from other accounts if they are part of the same group, does this make any sense to you?

All1

Xaviera

Alloneword wrote: »

I was told to get a new bank account up and running at the earliest stage as poss.
However that being said be careful they are not linked for example (the info i provide here is taken from this site here

http://www.moneysavingexpert.com/savings/safe-savings
http://www.which.co.uk/money/savings-and-investments/guides/are-my-savings-safe/who-owns-who-in-the-savings-market/
http://www.thisismoney.co.uk/money/saving/article-1630421/Savings-compensation-protection-Bank-ownership-licences.html

but make sure you check it's still current IE: who owns who)
If you bank with Lloyds NOW and owe them £1,400 DO NOT open a new account with any of the following Bank of Scotland, The AA, Birmingham Midshires/BM Savings, Intelligent Finance, Saga, or Halifax because they are all part of the same group and i was told funds can be taken from other accounts if they are part of the same group, does this make any sense to you?

All1

Oh and if you have an existing account with one of the above then I guess they will strip an account that has funds in?! :mad: