Debt Relief Orders (DRO) - Information & help thread

toby_lerone

Hi all

I have recieved my experian credit report which has debts totalling £12k

I also have knowledge of a debt to o2 for £600 which is not on this credit report

I am 90% sure that this is everything I owe to a total of £12.8k

I would love to apply for a DRO now, but should i wait and apply for my other credit reports from the other companies first?

debtorwithaquestion

My DRO was approved this morning around 11.00am- big weight lifted off my shoulders and hopefully I'll be able to sleep well tonight:j:T:rotfl:

I will update as and when my banks react to the DRO being granted. I expect most will close my accounts but hopefully not!

fatbelly

debtorwithaquestion wrote: »

My DRO was approved this morning around 11.00am- big weight lifted off my shoulders and hopefully I'll be able to sleep well tonight:j:T:rotfl:

I will update as and when my banks react to the DRO being granted. I expect most will close my accounts but hopefully not!

Well done! The two I did yesterday afternoon were also approved this morning.

Sounds like they're having a clearout at the DRO Unit so they can get off early for the weekend.

debtorwithaquestion

So just a quick update on timescales / my experience which may be useful for others:

DRO fee paid at Post Office on Monday 3rd August 2015
Presubmission for me to check and sign emailed over Tuesday 4th August 2015
DRO Presub signed by me and emailed back
Submitted by my Intermediary on same day

DRO approved by OR on the Friday 7th August 2015
My name appeared on Insolvency Register this morning 8am Saturday 8th August 2015


TODAY: Recieve pins / cards for all my newly opened basic accounts - go to Barclays to try and set up online/mobile banking quickly before they find out about the DRO and already my account is restricted to basic banking.

I expected this because one of my debts is an old barclays overdraft. The bank would obviously therefore know but how quickly they found out is scary lol!

Also I confirmed with the DRO UNIT yesterday that as of the date of approval the banks rights of offset are nulled meaning that my new basic account with barclays cannot be touched at all even though one of my DRO debts is with barclays.

Ive chosen to use the new barclays basic account at the moment because it seems theyre the only bank who officially WONT close the account because of a DRO.

I will update and let you guys know what happens to :

Santander Current Account
RBS Current Account
NatWest Current Account

Halifax Basic Account
TSB Basic Acccount

Which I opened all before the DRO simply to prepare in case they all decide to close my accounts!!!!!!!

Sorry for the long post by the way- just hope the info helps some others who did what I did for the past three months- speculated about EVERYTHING to do with my DRO

fatbelly

That is useful

Barclays would have been emailed at the same time as your intermediary - they clearly act immediately to downgrade any accounts that a DRO client has

The point about no offsetting is correct - they have 'no remedy against the debt' during the moratorium period.

LEO83

Hi all just info really

I was accepted for my dro 18th November 2014.

I applied to Barclays and co-op to try get basic account after reading up on here. Co-op flatly refused Barclays opened me basic account and shut it with in a month.

Luckily I had my basic Santander account which oversees used most of the time. Along with an orange cash card to use as a debit card in shops.

Anyway fast forward to July this year and Apple Pay.

I'm a big Apple fan and wanted to be able to use Apple Pay with my phone so me being me...

I applied to Lloyds and nationwide for there most basic accounts.

Lloyds I included in my dro within 30minutes they had emailed me with new account details and opened an account for me.

Nationwide 1 week later I received a PIN number in the post I called them to query this and they told me they had opened a basic account for me.

Now I do know through here again that they are changing the basic accounts and new ones will be out this year.. My presumption is that these 2 banks may have changed there policy's already with regards to basic accounts.

So if anyone on a dro is looking for a new account I suggest trying these 2 banks first along with Barclays.

What I did was
Totally honest with all my addresses
Totally honest about income on benefits due to breaking up with ex taking child on full time at the time of my dro.
Neither asked about ccjs or anything so could not put on application I had a dro.
And then I waited.

I have a friend who works in my local Lloyds bank who closed down my original account so queried the new account with him. He told me that if they had a problem with it they would not even of offered me the account and it will stay open now that they opened it.

Hope this helps those in need like people on here helped me at my hardest time of life.

debtorwithaquestion

Thanks for that info. That is useful to know definitely

Nothing's happened yet with any of my accounts, and am struggling to choose which bank is best for my needs. Worried I'll start using one and then it'll get closed

Is it acceptable to have income paid into one account but then transfer say travel money to one other account and food money to another. I find this way of budgeting much easier but wonder if the OR would have a problem whilst under a DRO

fatbelly

debtorwithaquestion wrote: »

Thanks for that info. That is useful to know definitely

Nothing's happened yet with any of my accounts, and am struggling to choose which bank is best for my needs. Worried I'll start using one and then it'll get closed

Is it acceptable to have income paid into one account but then transfer say travel money to one other account and food money to another. I find this way of budgeting much easier but wonder if the OR would have a problem whilst under a DRO

Not a problem. I have a Halifax Reward account I use like this just to get the £5 per month.

debtorwithaquestion

As with LEO83 , nationwide just send a basic bank account debit card, telephone banking password and my pin.

I've decided to use this as my main account and dabble between the others for travel and food ect to help budget my money.

It is a shame that Barclays don't allow people in a DRO to use online banking as it's such a useful budgeting tool.

Nationwide hopefully will be a good shout

debtorwithaquestion

Lloyds still have not closed my account?! The overdraft debt shows when I log into online banking but it says overdraft limit is £0. I thought they would have closed it by now?

Also Argos added a further charge of £18.00 in total bringing the debt to £218.00 but in my DRO the amount says £200. I checked all balances but this extra charge was added the day before my DRO was approved. It was submitted on the 5th/ charge added on 6th and then DRO approved on 7th. Where do I go from here ? Am I liable for it? It seems unfair because I was told to check balances accurately which I did , but the day after my DRO is submitted if a charge is added and I'm not aware how can that be fair?!