Debt Relief Orders (DRO) - Information & help thread

Debtishorrible

Hi just a quick one to say my DRO Moratorium period ended today!!! I am a free man never to go down the rabbit hole of debt again. The stress has been awful but the light has arrived from the end of the tunnel. I am just letting you know that once the DRO started nobody at all contacted me or asked for any bank statements. Nothing. Literally nothing else happened and that is it! I checked my mail and email everyday diligently wondering but again nothing! So so happy. Stay safe everyone

fatbelly

michellew_2 said:

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?
thanks

DROs are individual - you list all income and debts in full but expenditure can be proportionate to income

michellew_2

Just one more please. Our son is in final year of degree but will be doing masters as the maintenance loan is so low we’re helping him as much as possible are these expenses classed as necessary?  
Thanks

fatbelly

michellew_2 said:

Just one more please. Our son is in final year of degree but will be doing masters as the maintenance loan is so low we’re helping him as much as possible are these expenses classed as necessary?  
Thanks

Sorry to be blunt but no. If he's an adult (defined by you not getting child benefit for him) then even if he lives with you he would be classed as a non-dependant. If you really need to make payments to him rather than your creditors then maybe now is not the time to look at insolvency.

Is the masters degree one year? So he will be finished maybe May next year?

michellew_2

Yup we’re counting the days lol. That’s what we were thinking he’s done so well at the academic stuff ( he’s autistic, Tourette’s and s couple of other thing and looking at a high 2:1 or first ) but rubbish st “life” stuff he gets some help from DSA but it still is barely enough plus at a Russell group u I most are from private education so can’t keep up with nights out etc

fatbelly

michellew_2 said:

Yup we’re counting the days lol. That’s what we were thinking he’s done so well at the academic stuff ( he’s autistic, Tourette’s and s couple of other thing and looking at a high 2:1 or first ) but rubbish st “life” stuff he gets some help from DSA but it still is barely enough plus at a Russell group u I most are from private education so can’t keep up with nights out etc

No criticism from me. Your kids are more important than a handful of commercial lenders.

michellew_2

Yup but looks like we should be comfortable on paper   Thanks for your help hun xx

davetherave85

JonVarnas said:

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.

When I applied for mine I didn't have to provide any documents whatsoever. I just listed my debts, they did a credit check and that was it.

Who did you use to process your DRO? Thanks!

sourcrates

davetherave85 said:

JonVarnas said:

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.

When I applied for mine I didn't have to provide any documents whatsoever. I just listed my debts, they did a credit check and that was it.

Who did you use to process your DRO? Thanks!

You have to use a recognised intermediary, such as stepchange, PayPlan, CAB.

They are your best bet, avoid commercial debt management companies, because they will try to steer you towards an IVA, as they get paid more for selling them.

A DRO only brings in £90, and that goes straight to the IS, so nothing for the DMC.

JonVarnas

davetherave85 said:

JonVarnas said:

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.

When I applied for mine I didn't have to provide any documents whatsoever. I just listed my debts, they did a credit check and that was it.

Who did you use to process your DRO? Thanks!

I used Stepchange, who were very good.