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Debt Relief Orders (DRO) - Information & help thread
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Shame the surplus income is only £75. I thought it was going to be £100.
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So did we. They changed it last-minute.0
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I am trying to help my son sort out his debt. He was advised over a year ago by Stepchange to apply for DRO. He has suffered with his mental health and dealing with debt has been put off.
He has debts of £14,000 on store cards, credit cards and bank loans.
He also has a car on finance with £5,000 left to pay which comes to an end in July ( he doesn’t have £5,000 to pay it off, but if he gives the car back he will owe more due to mileage and the cars condition)
He does need a car to carry on working, as he is a kitchen designer and goes out to do surveys.
Any advise appreciated.
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A DRO will still be there for him once he gets the car situation sorted.
You can see the new criteria from 29 June a few posts back. It sounds like his total debt is £19000 which is well within the new limits and if he can get a banger to run, it can be worth up to £2000 and the scheme still works.
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My wife has debts of around £18k and is looking to apply for a DRO. What documents will they ask for other than a list of debts and income/expenditure workings?
Also will it have any affect on myself as I own the property we live in? My wife lives here but is not an owner or on the mortgage.0 -
davetherave85 said:My wife has debts of around £18k and is looking to apply for a DRO. What documents will they ask for other than a list of debts and income/expenditure workings?
Also will it have any affect on myself as I own the property we live in? My wife lives here but is not an owner or on the mortgage.
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davetherave85 said:My wife has debts of around £18k and is looking to apply for a DRO. What documents will they ask for other than a list of debts and income/expenditure workings?
Also will it have any affect on myself as I own the property we live in? My wife lives here but is not an owner or on the mortgage.Where a debtor’s circumstances suggest they may have a beneficial interest in any property the AI must take reasonable steps to understand the position and determine whether the debtor meets the criteria for a DRO.
Below is a list of questions used by examiners in the Insolvency Service to establish a possible beneficial interest in bankruptcy cases. You may find these questions useful as a basis for your own enquiries:
● Do you own or have you ever been the owner of a property?
● Have you transferred a property to a third party, e.g. spouse, civil partner or other associate?
● Are you married to the registered proprietor?
● If so, how long have you lived at the property?
● Did you pay a deposit when purchasing the property?
● Are you shown on the mortgage or on any subsequent charges?
● What mortgage payments have you made and for how long?
● Have you ever claimed to own a property when applying for credit?
● Do you consider you have a beneficial interest in the property?
● If not, why not?
● Have you funded an extension or remedial works to the property?1 -
Thanks for your responses. Do they elaborate as to what a beneficial interest in the property means/includes?0
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davetherave85 said:Thanks for your responses. Do they elaborate as to what a beneficial interest in the property means/includes?
So if she's not on the deeds, she has no interest.1 -
Hi is a joint DRO possible or is it just in one persons name, if only in one name does that mean all bills are halved when filling out the forms?
thanksHappy with any wins this year :A0
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