Debt Relief Orders (DRO) - Information & help thread

philnicandamy

hayley11 wrote: »

My DRO has gone through and been approved. Feel so very relieved and happy that I can get on with life now without the stress of all this debt! Roll on 12 months

superb news well done! :j

misteradam2005

Well done hayley!

Who did you go with?

I am thinking that the best way to do mine would be to call the CCCS (who I have had a DMP with for 3 years) and give them a new budget of my income and expenditure and then that will show I have less than £50 remaining.

But I'm worried that they may not be happy to put me on a DRO as I have a DMP with them and they may want to keep me on it. Would it be better to go with CAB?

Hayley - what bills or documents did you have to provide?

hayley11

misteradam2005 wrote: »

Well done hayley!

Who did you go with?

I am thinking that the best way to do mine would be to call the CCCS (who I have had a DMP with for 3 years) and give them a new budget of my income and expenditure and then that will show I have less than £50 remaining.

But I'm worried that they may not be happy to put me on a DRO as I have a DMP with them and they may want to keep me on it. Would it be better to go with CAB?

Hayley - what bills or documents did you have to provide?

So far I haven't had to provide anything. I just gave them balances and account numbers for my creditors and details of my income/expenditure. They haven't asked for proof.

I originally tried doing it with CCCS but it is impossible to get through to them so I rang Baines & Earnst, they were prats the first time I called them but I tried them again after still not getting anywhere with CCCS and the guy I got was great, so helpful and it was done within 5 days.

It might be worth doing the CCCS debt remedy to see if they say you qualify for a DRO. The first time I rang B&E they tried getting me into a PAID DMP or IVA but I knew I qualifed so was having none of it.

Good luck and thanks

lipglossbutterfly

Hi, I've met with the CAB re a DRO and provisionally it seemed I can apply for a DRO.

But since reading up more about how they value a car, I'm not so sure.

I own a 1997 Ford Maverick 2.7 GLS, 7 seater car as I have 5 children (4 I get child benefit for and an 18 year old on job seekers.) Anyway, I paid £900 for it off Autotrader in January this year. I borrowed £500 off my brother which I have yet to repay! Having looked up its value online it is over £3,000 !!!!!!!! Given the current climate and people's attitudes to 4x4's there is no way I would get that for it if it was sold, plus it has an oil leak (that I can't afford to get fixed) and is now in pretty fair condition.

What affect would this have on a DRO? I do not want to have to find £90 for it only to be turned down... Would I be made to sell the car and would I have to get a certain price for it??

Any help would be much appreciated xx

enigma52

under a £1000 on e-bay plus with leak would think about £700 -£800 tops

debt_doctor

lipglossbutterfly wrote: »

Hi, I've met with the CAB re a DRO and provisionally it seemed I can apply for a DRO.

But since reading up more about how they value a car, I'm not so sure.

I own a 1997 Ford Maverick 2.7 GLS, 7 seater car as I have 5 children (4 I get child benefit for and an 18 year old on job seekers.) Anyway, I paid £900 for it off Autotrader in January this year. I borrowed £500 off my brother which I have yet to repay! Having looked up its value online it is over £3,000 !!!!!!!! Given the current climate and people's attitudes to 4x4's there is no way I would get that for it if it was sold, plus it has an oil leak (that I can't afford to get fixed) and is now in pretty fair condition.

What affect would this have on a DRO? I do not want to have to find £90 for it only to be turned down... Would I be made to sell the car and would I have to get a certain price for it??

Any help would be much appreciated xx

Hi,

This is the intermediary guidance that we use............


[FONT=Arial, sans-serif]5.5[/FONT][FONT=Arial, sans-serif][/FONT][FONT=Arial, sans-serif]Motor vehicle* [/FONT]
[FONT=Arial, sans-serif]Please indicate whether the debtor owns a registered motor vehicle. For the purposes of a DRO, a ‘motor vehicle’ includes a car, motorbike, scooter or any other form of motorised vehicle.[/FONT]


[FONT=Arial, sans-serif]If the debtor owns a motor vehicle, please select ‘[/FONT][FONT=Arial, sans-serif]Yes[/FONT][FONT=Arial, sans-serif]’ in answer to this question. [/FONT]


[FONT=Arial, sans-serif]Further questions will then be generated on the form requiring information on the:[/FONT]

• [FONT=Arial, sans-serif]Make[/FONT]
• [FONT=Arial, sans-serif]Model[/FONT]
• [FONT=Arial, sans-serif]Year of first registration[/FONT]
• [FONT=Arial, sans-serif]Registration number[/FONT]
• [FONT=Arial, sans-serif]Condition [/FONT]
• [FONT=Arial, sans-serif]Value of the vehicle. [/FONT]

[FONT=Arial, sans-serif]If the value of the motor vehicle is less than £1,000, the motor vehicle will be deemed free from being classified as an asset and will therefore not be taken into account by the Official Receiver when determining the debtor’s total gross assets for the purposes of a DRO. [/FONT]


[FONT=Arial, sans-serif]Please Note: [/FONT][FONT=Arial, sans-serif]Adapted vehicles for disabled use see below.[/FONT]


Cars

[FONT=Arial, sans-serif]Valuations of cars, taking into consideration their age, mileage and condition, can be obtained using the online Parker’s Guide website. Please navigate to this site via the following link:[/FONT]
[FONT=Arial, sans-serif]http://www.parkers.co.uk/cars/prices/[/FONT][FONT=Arial, sans-serif] [/FONT]


[FONT=Arial, sans-serif]Please note that you should take the debtor’s description as to the condition of the vehicle when deciding which value to use from the guide e.g. Private Good or Private Poor.[/FONT]


[FONT=Arial, sans-serif]This website should be used to verify the debtor’s valuation of their car prior to entering the value of the vehicle on the application form. [/FONT]
[FONT=Arial, sans-serif]It should be noted that the Parkers website only provides free valuations for cars registered from 2000 onwards. Therefore, in the case of older cars, an intermediary is permitted to accept the debtor’s own valuation for the purposes of the application. However, the debtor should be made aware that the Official Receiver may make enquires as to how the valuation was arrived at, and if the Official Receiver determines that a deliberate undervaluing has taken place this may result in the revocation of the DRO and criminal or civil sanctions. [/FONT]


[FONT=Arial, sans-serif]Care should also be taken in relation to classic cars. For example, vintage Rolls Royce:rotfl: and MG classic cars will usually be worth considerably more than £1,000. An intermediary may also in these circumstances accept the integrity of a debtor who provides the valuation of a classic car and should advise of the £1000 exemption limit accordingly. However, again the intermediary should warn the debtor of the possible consequences resulting from the provision of data that is subsequently found to be incorrect (revocation of the DRO, and/or civil and criminal sanctions).[/FONT]

:rotfl:I'm sick of people coming to the bureau in their vintage rolls royce's, whole street is full of em !!:rotfl:How daft are the insolvency service ?

DD

lipglossbutterfly

Thanks for replying guys
So it looks like I can keep the car and tell them honestly it isn't worth what it's stated as being - Phew! I have a son with (undiagnosed, but recognised) Aspergers Syndrome and using public transport would of been out of the question.
Fingers crossed I can get the ball rolling next week.
Feels like a weight has partially been lifted and hopefully I'll sleep tonight

RecoveringAlcoholic

Park it in a rough area overnight and you can take £500 off the value.

.

sunnymoneytree

Oh my god that made me laugh! and Debt Doctor's message too..tee hee, and in all seriousness lipgloss, DD is right , you should be ok as my CAB advisor said mine was ok for our own valuation as it was pre 2000.(and my DRO went through successfully) Just want to say good luck, as it sounds like you have a lot on your plate, but you'll be fine! I think if there was going to be any problem with it a CAB advisor would more than likely be able to spot it before you submitted your application.

fatbelly

lipglossbutterfly wrote: »

I own a 1997 Ford Maverick 2.7 GLS, 7 seater car as I have 5 children (4 I get child benefit for and an 18 year old on job seekers.) Anyway, I paid £900 for it off Autotrader in January this year. I borrowed £500 off my brother which I have yet to repay! Having looked up its value online it is over £3,000 !!!!!!!! Given the current climate and people's attitudes to 4x4's there is no way I would get that for it if it was sold, plus it has an oil leak (that I can't afford to get fixed) and is now in pretty fair condition.

The valuation is done on the Parkers site. As it is pre-2000 you will have to pay £3.49 for the valuation. But at least you will then know whether or not you qualify for a DRO. I would suggest looking at the 'poor condition' valuation given the oil leak.