Debt Relief Orders (DRO) - Information & help thread

debt_doctor

helloh wrote: »

Hi

Not sure if anyone can help but i am looking into applying for a debt relief order and i qualify on all counts apart from my car, it`s worth £1300 BUT i need a car as my daughter has chronic asthma and has regular trips into hospital (3 in the last month) is there anyway i can keep my car? Do they sell it/do they make me sell it/can i but it back?
Any help much appreciated.

Hi,

I'm afraid your car must be worth less than £1000 otherwise you cannot qualify for a DRO. The only exemption is if the vehicle has been adapted for a disability.
Intermediaries have to value your car using the parkers on line guide and must use your opinion as to whether it is in the good or poor condition category.
Obviously 'poor' vehicles are worth substantially less:rolleyes:

DD

Stardust

With the Parkers Guide, I have a T reg car which Parkers require me to pay to see its value - since the V reg (same model) is valued at £665 can I safely assume that my T reg is worth a lot less than that?

debt_doctor

Stardust wrote: »

With the Parkers Guide, I have a T reg car which Parkers require me to pay to see its value - since the V reg (same model) is valued at £665 can I safely assume that my T reg is worth a lot less than that?

Hi,

If your vehicle is too old to be within the free area of Parkers then the intermediary MUST take your own valuaton of your vehicle. So long as its not a 'classic sports car' or similar you have nothing to worry about re the value of your car.

DD

Stardust

debt_doctor wrote: »

Hi,

If your vehicle is too old to be within the free area of Parkers then the intermediary MUST take your own valuaton of your vehicle. So long as its not a 'classic sports car' or similar you have nothing to worry about re the value of your car.

DD

I wish :rotfl: Nope, just a little city runaround.
Thanks

helloh

fatbelly wrote: »

Sorry but if you own the car and it is worth £1300 you cannot have a DRO.

Have you checked its value on parkers Guide?


Thanks for your reply. I have now contacted Payplan who have advised i do a DMP, gotta get my thinking head on and make a decision!

helloh

debt_doctor wrote: »

Hi,

I'm afraid your car must be worth less than £1000 otherwise you cannot qualify for a DRO. The only exemption is if the vehicle has been adapted for a disability.
Intermediaries have to value your car using the parkers on line guide and must use your opinion as to whether it is in the good or poor condition category.
Obviously 'poor' vehicles are worth substantially less:rolleyes:

DD

Thanks for the help. I have now contacted Payplan who advised me to do a DMP so gonna sleep on it before i make my decision!

Stardust

Finally finished reading the thread. Full of great info

The question regarding student loan payments while in a DRO haven't been answered, does any one have any experience?

fatbelly

helloh wrote: »

Thanks for the help. I have now contacted Payplan who advised me to do a DMP so gonna sleep on it before i make my decision!

I was going to comment that, if your car IS worth £1300 now then it will be below £1000 in less than a year's time.

And then another thought struck me - if you do a dmp with Payplan, how much are they suggesting that you pay each month?

fatbelly

Stardust wrote: »

The question regarding student loan payments while in a DRO haven't been answered, does any one have any experience?

I couldn't see the question and I haven't met this situation but what it says in the guidance is:

• Student loans cannot be included under a DRO. They remain the responsibility of the debtor to repay within the terms of the loan agreement

Stardust

Sorry, phrased that wrong. I meant receiving a student loan and bursary payment. I have one due in Jan and the other in April which I get to spread over and live off for three months each. I was wondering how this three month 'lump sum' affected the DRO order.
(It was first asked about 10 pages back and an answer wasn't given)

My only way out of the student loan is to die or reach 65 :rotfl:(But I am kinda hoping in the future to be earning a nice wage so I may pay it back yet)