Debt Relief Orders (DRO) - Information & help thread

fatbelly

welshy9 wrote: »

Hi all. Opinions/advice needed. Have a situation where I am hoping to apply for a DRO. However, I live with my husband who owns our property (married when bought it). He supplied the deposit, pays the mortgage from his account and has paid for any work needed. It is in my husbands name as he had the deposit and me being on the mortgage meant we could not obtain one - Broker arranged this for us. We have a daughter together. I have had different views from NAD and Stepchange. NAD stated they would proceed with the application but could not as they were not taking on any applications due to a backlog. StepChange said they would not submit the application due to their being a beneficial interest to me even though I do not own it and therefore it would been as my asset. I have also received information from the Insolvency Service who were puzzled as to why I wasn't on the mortgage (we wouldn't have got one if I was) and stated it was up to each individual intermediary.

Does anyone have any experience of this?

Debt in my name only £7404. My husband and I have separate accounts. I pay majority of bills and he pays the mortgage and council tax.

Thank you in advance

The concept of beneficial interest is a tricky one, and your post is probably worthy of its own thread, and would get more views than on this one.

It was discussed here to give you a flavour of the debate

https://forums.moneysavingexpert.com/discussion/5434848

I can tell you that we have put some applications through in this situation and the DRO has run its course without apparent problem.

When the IS stated it was up to each individual intermediary, they probably meant it was up to each individual intermediary whether to submit an application (technically not correct but there you go). The decision on whether the asset limit is breached is up to the DRO Unit, part of the IS.

kimplus8

fatbelly wrote: »

If you are over the 20k limit then you do need to research bankruptcy, which is now easier to access and the £655 fees can be paid by credit or debit card. The info is in this thread though it is a long one as it covers the period leading up to the change 2 months ago.

https://forums.moneysavingexpert.com/discussion/5400026

Remember when counting your debt figures that some debts are excluded and so do not count to the total: magistrate court fines, student loans, csa arrears, social fund debts. TV licence arrears are not a debt.

I understand the logic of going for bankruptcy if you cannot identify all your debts but, for most people, the advantages of a DRO make it worth putting a bit of effort into seeing if you can get an accurate list.

I didn't know MAS did DROs - they're not on the list of 'Competent Authorities' - are you using a MAS-funded intermediary at Citizens Advice maybe?

I'm not sure, they are a charity and completely free,
http://www.moneyadviceplymouth.org.uk/About.html
I am aware I may have outed myself now by revealing I'm a Plymouthonian but oh well.

welshy9

The concept of beneficial interest is a tricky one, and your post is probably worthy of its own thread, and would get more views than on this one.

It was discussed here to give you a flavour of the debate



I can tell you that we have put some applications through in this situation and the DRO has run its course without apparent problem.

When the IS stated it was up to each individual intermediary, they probably meant it was up to each individual intermediary whether to submit an application (technically not correct but there you go). The decision on whether the asset limit is breached is up to the DRO Unit, part of the IS.

Thank you Fatbelly. I might see if can wait for the national debt line to take on more applications or visit the CAB as it seems Stepchange feel I would have too much beneficial interest. I will able to provide all of the documentation to prove I have not invested in the purchase, mortgage or improvement of the house.

Thank you again for taking the time to reply. I might create a new thread to get more views.

fatbelly

kimplus8 wrote: »

I'm not sure, they are a charity and completely free,
http://www.moneyadviceplymouth.org.uk/About.html
I am aware I may have outed myself now by revealing I'm a Plymouthonian but oh well.

Nothing wrong with being a Plymothian. Money Advice Plymouth is pretty sound and it looks like their intermediaries link into AdviceUK.

kimplus8

fatbelly wrote: »

Nothing wrong with being a Plymothian. Money Advice Plymouth is pretty sound and it looks like their intermediaries link into AdviceUK.

They have been fantastic! Came to my house and took all my SOAdetails, they worked it all out for me and are completing all the application etc.
I can't recommend them enough

unxpctd

Hi All,
I need some help with a possible future DRO. I have a personal loan with £3500 left.

I am an EU national and I have been living and working in England for 3 years now. So the situation is that I know that I am going to move back to my country in the end of August and I will live with my family. I don't own anything, don't have any savings and won't have any income for at least 18 months. What should I do if I will only fit the the requirements for a DRO after I move and quit my job? Can I apply from abroad? When should I apply?

National_Debtline

Hello unxpctd


Moving abroad won't prevent you from seeking a DRO in theory, as long as you can prove that you have lived in England or Wales in the three years prior to your application. However, you may find that only a limited number of organisations are able to handle applications from abroad - we at National Debtline do not, and Citizens Advice bureaux won't either. I don't know whether other organisations would be willing to start the application process right now while you don't strictly fit the criteria.


I would suggest that you work through the following list of contacts in order to enquire further:


https://www.gov.uk/government/publications/getting-a-debt-relief-order/getting-a-debt-relief-order#find-a-debt-adviser


Dennis
@natdebtline

Pickles112

Hiya it's me again I'm currently in the process of doing a DRO. I'm waiting for experian report code to come through the post. Will my cashbuilder account be shown on the report ? Or will it be easier to take a statement?
Many thanks

fatbelly

Pickles112 wrote: »

Hiya it's me again I'm currently in the process of doing a DRO. I'm waiting for experian report code to come through the post. Will my cashbuilder account be shown on the report ? Or will it be easier to take a statement?
Many thanks

Is that a Nationwide savings account? Savings won't show. How much have you got in there?

Pickles112

I think ive got £1.03 in there I've had it opened to try and save but unfortunately haven't got very far. Yeah it's a nationwide cashbuilder. So shall I take a statement in to show I have nothing?
Will I be able to keep this account as I could got my wages paid in to that one when they close my current account?
Many thanks