Debt Relief Orders (DRO) - Information & help thread

debrag

The £50 is after bills, JSA amount is before bills.

drostudent

fermi wrote: »

New trigger figures here:

Sorry to be dense, but what do trigger figures mean?

Are these the amounts you are able to claim as living expenditures or is this something else?

Cheers

Trollfever

drostudent wrote: »

Sorry to be dense, but what do trigger figures mean?

Are these the amounts you are able to claim as living expenditures or is this something else?

Cheers

More information can be found here:

http://www.moneyadvicetrust.org/section.asp?sid=14

G8311374

Hi, I am about to start university next month, and am £10000 in debt. As my income is about to take a serious nose dive I want to apply for a DRO so I don't have to worry about my debts on top of university. When it comes to income is my NHS bursary, student loan and medical pension from the RAF considered as income, or is income purely from any part time work I can pick up? I am also considering going self employed doing catalogue delieveries etc for Betterware whilst at uni as the hours are flexible, I can't predict my income from this so how would this work out for me once I have a DRO as I imagine some months my income will be more than others? Also, can I apply for a DRO now before my income takes a nose dive or must I wait until my income has dropped?

Many thanks in advance.

helen xx

debt_doctor

helenbolland wrote: »

Hi, I am about to start university next month, and am £10000 in debt. As my income is about to take a serious nose dive I want to apply for a DRO so I don't have to worry about my debts on top of university. When it comes to income is my NHS bursary, student loan and medical pension from the RAF considered as income, or is income purely from any part time work I can pick up? I am also considering going self employed doing catalogue delieveries etc for Betterware whilst at uni as the hours are flexible, I can't predict my income from this so how would this work out for me once I have a DRO as I imagine some months my income will be more than others? Also, can I apply for a DRO now before my income takes a nose dive or must I wait until my income has dropped?

Many thanks in advance.

helen xx

Hi,

All those you mentioned would count as income. If you cannot be sure how your income will be within the DRO then it is probably not appropriate and BR may be your answer, or DMP.

DD

CCCS_Alan

helenbolland wrote: »

Hi, I am about to start university next month, and am £10000 in debt. As my income is about to take a serious nose dive I want to apply for a DRO so I don't have to worry about my debts on top of university. When it comes to income is my NHS bursary, student loan and medical pension from the RAF considered as income, or is income purely from any part time work I can pick up? I am also considering going self employed doing catalogue delieveries etc for Betterware whilst at uni as the hours are flexible, I can't predict my income from this so how would this work out for me once I have a DRO as I imagine some months my income will be more than others? Also, can I apply for a DRO now before my income takes a nose dive or must I wait until my income has dropped?

Many thanks in advance.

helen xx

Hi Helen

All of your incomes you have mentioned would be classed as income in a DRO.

If you were suitable for a DRO, and your surplus rose to over £50 per month in the 12 month moratorium period the DRO can be revoked. Then the creditor can apply all interest and charges due on the balances.

If your available surplus is currently over £50 you would be unable to apply for a DRO at this point.

To see what your possible options may have regarding your debts, you can try using our online advice facility Debt Remedy. Click here to go directly to Debt Remedy

Hope this helps

CCCS_Alan

ladyday

I wonder if any knows if you can have a DRO whilst being named as an attorney acting under an Lasting Power of Attorney for Property and Affairs ? I know you cannot be an attorney for an LPA whilst an undischarged bankrupt or an interim bankrupt so does a DRO effect it at all ?

Long_Dark_Tunnel

Hello everyone,
I have read pretty much all the posts in this thread and have picked up some very useful tips on obtaining a DRO, so thank you one and all!
There is something I still need some clarification on.
I work for a recruitment agency so my weekly income is erratic at best! Some weeks theres a ton of OT to do, sometimes I get 'asked' not to come in at all.
As such my income can be between £130 - £290 p/wk, but my pay on a normal 37.5 hour week (contracted hours) with no OT is somewhere in the region of £180 p/wk.
My problem is how can I can I calculate if I have a £50 or less surplus on such wildly fluctuating figures?
I have calculated an average weekly income by adding the net pay from each week then divided that number by the amount of times I have been paid. I then got an average monthly income by multiplying the weekly figure by 52 then dividing by 12.
Will this figure I have arrived at be acceptable on my SOA, or is it best just to put down my income based on my contracted hours, even though my payslips dont necessarily reflect this?
I know they are going to want to look at my payslips so I dont want any discrepancies that could delay, or worse still, revoke my application!
Any input regarding this would be much appreciated.
Thanks in advance.

Clairvoyant_2

Hi all

Im looking to do a DRO as my debts are under 8k.

All Debts are in my name.
Seperate Bank Accounts from my wife.
I own a car less than a £1000 (used for school run kids are at 2 different schools and looking for work)
Im unemployed and have been for over 1 year (only get my stamp paid)
Wife works part time
Wife has car for work (home care) Value maybe £1500

CAB want to know about my wifes income and bills, and her car (in her name). As well as the House hold bills and all benefits.

Can they take my wifes car as she needs it and I need my car for school runs.

And why do they need to know her income and out goings the debts are mine not hers.

SOA is this the same as a BR. ( 2 Adults 2 Children)

Thanx in advance.

PS

Will they take into account my Pesion that I dont collect till Im 65 (I think). Its exempt with BR.

SouthCoast

Will they take into account my Pesion that I dont collect till Im 65 (I think). Its exempt with BR.

You can't apply for a debt relief order if you:

• own things of value or have savings of over £300
• own a vehicle worth more than £1,000
• have a private pension fund worth over £300.

And:

When you work out how much spare available income you've got, you must count all the money you've got coming into your household. This could include:

• your salary or wages
• welfare benefits, such as Jobseeker's Allowance and Employment and Support Allowance
• your pension
• contributions from other household members
• any rental income.

You will be able to deduct a reasonable amount for your everyday needs. If the figure left over each month is less than £50 then you may be able to apply for a debt relief order if you meet the other conditions.

http://www.adviceguide.org.uk/index/life/debt/debt_relief_orders.htm