Debt Relief Orders (DRO) - Information & help thread

wba31

Alloneword wrote: »

My 12 month period was up in Nov and I'm now looking a getting some home contents insurance (live near River Thames) am I right in thinking that when insurance companies ask if i have been a bankrupt I should reply NO, Just don't want to lie to them but i'm not a bankrupt but i know what some insurance companies can be like.

All1

I agree - reply NO, you have not been bankrupt...

Alloneword

OK thanks wba31, off to fill it in now while i'm still dry.

All1

Jonj1611

Seems like a long time since I was last in this thread.

Anyway my DRO comes to an end in two days time. Do I need to do anything? In two days is all the debt gone? Will I get notification or is that it?

Thank you.

fatbelly

Jonj1611 wrote: »

Seems like a long time since I was last in this thread.

Anyway my DRO comes to an end in two days time. Do I need to do anything? In two days is all the debt gone? Will I get notification or is that it?

Thank you.

You don't need to do anything and you won't receive anything, but you will be discharged from your debts.

The entry on the insolvency register is changed to reflect this and stays there 3 months. So go online and get a printout at the end of the week.

And well done :T

Jonj1611

Excellent news, thank you

Was one of the best things I have done

Jonj1611

I just wanted to check something, I checked my status today and it says :-

Currently subject to debt relief order : Moratorium Period ended on 27 February 2014

And then in the footnote says I was discharged of debts as of the 27th.

When should the bit that says "currently subject to debt relief order" change? Or does it ever?

Thank you

speedy46

Hi,
I'm new to this site but have found alot of my questions have been answered from these topics. I have a question regarding my sharesave with my employement. I'm currently in debt of £13700 on loans and credit cards; plus a further £9000 from burrowing from friends. I'm at the stage where i can't sleep and need to get this resolved as soon as i can.
I'm considering DRO for my loans/cards debt and want to use my employement sharesave to pay off friends. I have £8000 on my sharesave which finishes its 3 year plan next month but would like to clear the majority of my debt asap. Would i be able to cash in the savings to pay off friends and at the same time apply for DRO for my unsecuried debts? Would they rather have me pay off the unsecuried debts with my savings first.
I was thining of not mentioning my sharesave in my DRO application but i'm sure they'll find out. Do they check my payslips or contact my employment?

Flyright

Repaying friends ahead of any sort of insolvency is an absolute no-no. The OR will find out and you will also be required to disclose such an action in any case. Failure to do so will get both you and your friends into trouble. Nobody on this board is going to encourage you to lie to the intermediary or the OR.

Orville

Flyright wrote: »

Repaying friends ahead of any sort of insolvency is an absolute no-no. The OR will fibd out and you will also be required to disclose such an action in any case. Failure to do so will get both you and your friends into trouble. Nobody on this board is going to encourage you to lie to the intermediary or the OR.

if you are going to give advice please give the correct advice.

Yes you are right in that if the OR found out he had given money to friends it would revoke his DRO.

However his friends will not be in any trouble what-so ever. As far as they are concerned they are just getting back the money they lent to him.

Flyright

It is correct advice. The OR will seek to recover the money from the friends.