Debt Relief Orders (DRO) - Information & help thread

debt_doctor

Hi,

Student loans as income are averaged out over the year and would then be used to see if you have more than £50 pm surplus taking in to account your expenditure within the common financial statement.

Personally, I wouldnt trust Payplan with anything.

DD

Stardust

You have no idea how much my mind has been put at rest

helloh

fatbelly wrote: »

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?

Payplan saying £160 which means it`s gonna be tight for a while until i get used to things. I only have 1 creditor who is giving me major hassle, everyone else is great so i really don`t know what to do for the best. Can`t really afford £160 and a year is too long to wait for my cars value to go down.
If i could just come to some agreement with the 1 giving me hassle then problem solved, but as it`s HSBC they won`t agree to anything!!! Frustrating!

debt_doctor

helloh wrote: »

Payplan saying £160 which means it`s gonna be tight for a while until i get used to things. I only have 1 creditor who is giving me major hassle, everyone else is great so i really don`t know what to do for the best. Can`t really afford £160 and a year is too long to wait for my cars value to go down.
If i could just come to some agreement with the 1 giving me hassle then problem solved, but as it`s HSBC they won`t agree to anything!!! Frustrating!

Not that I don't trust Payplan:rolleyes: could you post your inc / exp on here to have a look at ?

I 'd like to see if they are using the principles of the common financial statement that they have signed up to and have their logo on.

As for HSBC, if you have no assets then they can have what you can reasonably afford, whether they like it or not.

DD

helloh

debt_doctor wrote: »

Not that I don't trust Payplan:rolleyes: could you post your inc / exp on here to have a look at ?

I 'd like to see if they are using the principles of the common financial statement that they have signed up to and have their logo on.

As for HSBC, if you have no assets then they can have what you can reasonably afford, whether they like it or not.

DD

Hi

Thanks for your reply. NO it doesn`t have their logo on it, says it`s a schedule B (whatever that is) but the £166 would mean i`m paying more than i am now! So do i pay HSBC just what i can afford and let them take me to court? Whats the process? Yesterday they told me it would be passed onto their debt collection team. Will they accept my offer?
Sorry for asking all these questions but this is the only place where people understand what i`m going on about!

debt_doctor

I'm just off to work (9.15am - what a job !)

I'll pm you later on.

DD

sarahk35

getting a credit report was'nt even mentioned by cab, and it did'nt even occur to me, i just assumed that because i no longer owned the house and the arrears were cleared it would be ok, did'nt think for a minute that it would still be on my credit report. my intermedary is going to put in an appeal, i will keep you posted

fatbelly

helloh wrote: »

Payplan saying £160 which means it`s gonna be tight for a while until i get used to things. I only have 1 creditor who is giving me major hassle, everyone else is great so i really don`t know what to do for the best. Can`t really afford £160 and a year is too long to wait for my cars value to go down.
If i could just come to some agreement with the 1 giving me hassle then problem solved, but as it`s HSBC they won`t agree to anything!!! Frustrating!

That's what i was concerned about. Payplan like at least £100 per month to go to your creditors. I'm not surrprised that you say you can't afford it. The problem that I can see arising is that you start paying £160 per month, find your car has depreciated below £1000, go for a DRO then the creditors object because they have a financial statement from Payplan showing that you have more than £50 available each month.

Maybe the way forward is for you to produce your own financial statement and start making those payments anyway, even if HSBC don't agree.

helloh

fatbelly wrote: »

That's what i was concerned about. Payplan like at least £100 per month to go to your creditors. I'm not surrprised that you say you can't afford it. The problem that I can see arising is that you start paying £160 per month, find your car has depreciated below £1000, go for a DRO then the creditors object because they have a financial statement from Payplan showing that you have more than £50 available each month.

Maybe the way forward is for you to produce your own financial statement and start making those payments anyway, even if HSBC don't agree.

I`v now spoken to the National Debt Line lot and they advised me to pay only what i can afford and then if HSBC take me to court they will still only get what i can afford and as my other creditors are happy with my repayments the courts will not look kindly on HSBC for taking the court action in the first place.
So thats what i`m gonna do!

Thanks to all who have replied and helped me to make a decision.

debt_doctor

helloh wrote: »

I`v now spoken to the National Debt Line lot and they advised me to pay only what i can afford and then if HSBC take me to court they will still only get what i can afford and as my other creditors are happy with my repayments the courts will not look kindly on HSBC for taking the court action in the first place.
So thats what i`m gonna do!

Thanks to all who have replied and helped me to make a decision.

Good ! - Thats what I was going to pm you about. Do not tie yourself down too tightly if your going to have to live like that for a year.

Let your financial statement do the talking. Once they have received it then they have all the information they need.

From then on, DONT speak to them on the phone, ever, and read their letters and then file them away. The only thing you are to take notice of is court forms. If you get any, reply with the same offer of payment, by recorded delivery within 14 days. You might also want to get advice at that point.

If the debt gets passed to someone else, send them the same financial statement and then as above.

Good luck

DD