Debt Relief Orders (DRO) - Information & help thread

mshappy

Another question I had is I sometimes do some overtime at work and can earn say an extra £50-£100 or so a month. Of course this isn't guaranteed . My intermediary advised this wouldn't matter as my monthly expenditure is way below the acceptable limits. Would I need to declare this income

fatbelly

mshappy wrote: »

Another question I had is I sometimes do some overtime at work and can earn say an extra £50-£100 or so a month. Of course this isn't guaranteed . My intermediary advised this wouldn't matter as my monthly expenditure is way below the acceptable limits. Would I need to declare this income

Did your DRO get accepted today? I did three yesterday and they were all accepted today so things appear to be working smoothly at the DRO Unit.

Ideally your wage would have been averaged in the application. If that hasn't been done then you could submit a revised income/expenditure when your overtime comes through.

There are no fixed rules on how to present income/expenditure, which is useful as it gives us some flexibility.

mshappy

Hello

I heard back from my intermediary at lunch time
At is was accepted. Feel a little overwhelmed by it all especially the fact I will be on the insolvency register.

However, this was the only option really.

Rashidhussain69

Can you apply for a DRO if you have a mortgaged property?

fatbelly

Rashidhussain69 wrote: »

Can you apply for a DRO if you have a mortgaged property?

Unfortunately no

There's an asset limit of £1000 and that is gross value of property, not net, so even if you own a house in negative equity, you are disqualified from having a DRO

Piggywinkle

Hello - long time forum lurker here

I had my DRO granted in January 2016, but I never received a letter - was I supposed to, or do I get it upon discharge?

fatbelly

Piggywinkle wrote: »

Hello - long time forum lurker here

I had my DRO granted in January 2016, but I never received a letter - was I supposed to, or do I get it upon discharge?

That's odd - you should have had the Debtor's Notice a few days after the DRO was granted.

I presume you know it was granted because you can see your entry in the Insolvency Register. Worth printing that off and keeping a copy but also ask the DRO Unit to send the Debtor's Notice again

zodiac

Just over 6 years ago I was granted a DRO, i've kept my banking squeaky clean in those 6 years and have had a full time job for the last 4.

I applied for a proper current account this morning (with co-op who I have been with for 6 years) and was refused, looking at Experian I have 5 defaulted accounts still on my record :eek:

Im getting a bit confused over who I have to contact and what to say / write. I really appreciate all the advice given by the Mods and people with the relevant DRO/BR knowledge . Can anyone put into really simple terms what I have to do to correct the defaults showing.

Orville

zodiac wrote: »

Just over 6 years ago I was granted a DRO, i've kept my banking squeaky clean in those 6 years and have had a full time job for the last 4.

I applied for a proper current account this morning (with co-op who I have been with for 6 years) and was refused, looking at Experian I have 5 defaulted accounts still on my record :eek:

Im getting a bit confused over who I have to contact and what to say / write. I really appreciate all the advice given by the Mods and people with the relevant DRO/BR knowledge . Can anyone put into really simple terms what I have to do to correct the defaults showing.

First off do you still have the account details etc of the ones showing in default..? You need to fist clean up your file when the term ends. (A bit more work but then it's done).

You'll need your Debtors Notice I think it is. Make a few copies so you can send one to each company you still have defaults showing with. Explain the date it was granted and notify them the discharge date has passed (refering them to the copy) and these defaults now need to be wiped from your credit file.

There maybe a template around somewhere but you will have to forgive me as it's been a while since I have been active on here. If you have further questions Fatbelly is the one to ask :-)

Piggywinkle

fatbelly wrote: »

That's odd - you should have had the Debtor's Notice a few days after the DRO was granted.

I presume you know it was granted because you can see your entry in the Insolvency Register. Worth printing that off and keeping a copy but also ask the DRO Unit to send the Debtor's Notice again

Thanks fatbelly, I'll do that. I did my DRO through StepChange so I'm not sure if that makes a difference, but yes - it is on the insolvency register.

Cheers