Debt Relief Orders (DRO) - Information & help thread

pliusas

I am correct if I am thinking there is no "discharge notice"? Online I can find (stepchange, citizenadvice websites) "You won't receive any official notice or communication to tell you that the DRO period has ended." but Hoist finance asks me (call them and asked to update credit file,  still see account is open and every month have default on acc). I am  not native EN speaker, for me is hard to write correct email for them and ask (phone call was not successfull). How can I word it? I would add printscreens from these website and insolvency service as well. Or any other advice? 

pliusas

or I just found I can ask some proof, so wrote email and asked.

fatbelly

pliusas said:

or I just found I can ask some proof, so wrote email and asked.

Let us know if you don't get what you want

CarrieMovingonup

Wondering if anyone can help...currently going through a redundancy consultation....won’t get any payout due to not having been there long enough...would have 5 months left of a DRO order before it ends...if I could secure any employment earning the same amount monthly as I do would I need to tell me official receiver of a change in employment- I’m hoping I survive the cuts...but I’m unsure...I know what I bring home per month and as long as I keep working and earning the same will it matter? Thanks in advance....

fatbelly

It's always best to let the DRO Team know of any change of circumstances during the 12 months as that's what you are supposed to do.

Jade1995

Hi All!
I had a DRO granted the end of last year, the date the DRO ends is 24 December 2020, where I will be discharged. I am due to start a new job next month where I should be able to pay back some money each month to my creditors. I wanted to know that if could afford to start paying my creditors and I contact the insolvency service to let them know this, once I start paying my creditors back, what would happen to my credit file/rating? I understand that the DRO would still be on their for 6 years but marked as revoked. I’ve not been able to find any information about this so far online, so I wanted to know whether this would be a good thing and if I would find it easier to build my credit rating back up and also for when I want to eventually get a mortgage, do I still need to wait 6 years to apply or would I be considered sooner as I paid the debt back? Any help/information would be great! Thank you!

fatbelly

You can't just opt out of an insolvency solution.

If your surplus income rises above £50 then you have to inform the DRO Team and the DRO would be revoked. I suggest you ask your intermediary to help you with that calculation once your new income and expenditure are established.

If the DRO is revoked, you would have to wait to see who now owned the debts and who would be bothered to contact you for payment.

The defaults on your credit file  mean that each entry will drop off 6 years after that date. Likewise the DRO drops off six years after it was awarded. I can't see that payment would make a lot of difference but any you did pay off would be marked as settled defaults.

sourcrates

Jade1995,

You are not allowed to pay your creditors whilst your DRO is active, you say you are starting a new job next month, so the new pay won`t kick in till the following month, it seems a pity to have your DRO revoked for what will amount to about 2 to 3 weeks before discharge.

Just don`t be rash and think this through logically.

ammalik786

Hi
I am considering applying for a dro and would be grateful if anyone could tell me what proof I need for car ownership. I am the registered  keeper but the money was paid by my father in cash. I only paid a small deposit on the day.

fatbelly

ammalik786 said:

Hi
I am considering applying for a dro and would be grateful if anyone could tell me what proof I need for car ownership. I am the registered  keeper but the money was paid by my father in cash. I on my paid a small deposit on the day.

Difficult - there's no proof that he owns it. Does it matter? have you checked on Parkers guide to see how much they say it's worth?