Debt Relief Orders (DRO) - Information & help thread

roseymarie

My concern is that although I have been paying them all on and off over the past 2 years, some months I might've paid one if they were hassling me loads and then not paid another or paid them less or late...thats whats worrying me :S
I wasn't intentionally preferring one over another but......

elfieb

roseymarie wrote: »

My concern is that although I have been paying them all on and off over the past 2 years, some months I might've paid one if they were hassling me loads and then not paid another or paid them less or late...thats whats worrying me :S
I wasn't intentionally preferring one over another but......

I wouldnt worry.
The IS are looking for massive payments to creditors in preference of others, not the odd default here and there

debt_doctor

Hi,

The intermediary guidance notes........


[FONT=Arial, sans-serif]6.2[/FONT][FONT=Arial, sans-serif][/FONT][FONT=Arial, sans-serif]Have you preferred any creditors over others in your payments within the last 2 years? *[/FONT]
[FONT=Arial, sans-serif]Please select ‘[/FONT][FONT=Arial, sans-serif]Yes[/FONT][FONT=Arial, sans-serif]’ or ‘[/FONT][FONT=Arial, sans-serif]No[/FONT][FONT=Arial, sans-serif]’ as appropriate. [/FONT]


[FONT=Arial, sans-serif]An example of a preferential payment could be when a debtor pays a creditor in full without paying his other creditors anything at all, thus placing one creditor in a far better position than the others. [/FONT]


[FONT=Arial, sans-serif]If ‘[/FONT][FONT=Arial, sans-serif]Yes[/FONT][FONT=Arial, sans-serif]’ is selected in answer to this question, that the debtor has made payments to another creditor within the last 2 years with a view to improving that creditor’s position, the debtor will need to provide the following information:[/FONT]

• [FONT=Arial, sans-serif]Name of the preferred creditor[/FONT]
• [FONT=Arial, sans-serif]Date of the payment to the preferred creditor[/FONT]
• [FONT=Arial, sans-serif]The amount that was paid to the preferred creditor.[/FONT]

...... so the payment would have had to have been substantial AND a deliberate intention to improve that creditors position in a DRO.

DD

PandaPaws_3

I'm sorry if this question has already been answered, I can't find the answer..
I currently have a monthly income of around £800-950 and my outgoings are slightly over £950, so clearly I have less than £50 surplus income per month. However, does this £50 mean my surplus income after my credit card repayments, which are currently £340 per month? If I took them away, I'd have more than £50.... ?

fermi

The £50 surplus does not include current debt repayments.

So on the face of it you might have a surplus of £350?

However, you need to do a proper SOA using figures that an intermediary would use. You might not have £350 surplus according to that?

fermi

Useful info from the IMA.

http://www.i-m-a.org.uk/intermediary-resources.html

Including detailed guidance that an official intermediary might use.

fermi

Please keep this thread on topic. This thread/board is for support and help for people in financial difficulty. If you’d like to discuss non-MoneySaving related topics or issues surrounding them, please continue your discussion in The MoneySavers Arms or Discussion Time. If you have any questions about this policy please email [EMAIL="%20abuse@moneysavingexpert.com"]abuse@moneysavingexpert.com[/EMAIL].

Angel1978_2

Hiya, not a bankruptcy question as such but my friend has got a copy of his credit report from Experian. He's had someone knocking on the door and presumed it was a bailiff because of a 1k debt he had with HSBC bank years ago (ongoing argument about charges). So he got a copy of his credit report to check. This bank debt isn't on his credit report. He thought the debt was over 6 years and therefore uncollectable. If it isn't on his credit report does that mean that the debt is in fact over 6 years and has been removed???

Also, it was a free report. Not one you pay for. Is this important? Does it make a difference with the amount of information you get regarding defaults?

The only default on there is from Aktiva bank which he doesn't have any clue about and is less than £300.

Many thanks in advance.

jonnyjackov

Hi, having finally read this thread all the way through, I was just wondering if there is a preferred company to do a DRO with.

Having spoken to the Citizens advice, I got the felling it would take a long time to get an appointment with them.

Who have other people used, and is there anyway of doing it over the phone, or does it have to be in person.

Thank you in advance.

elfieb

jonnyjackov wrote: »

Hi, having finally read this thread all the way through, I was just wondering if there is a preferred company to do a DRO with.

Having spoken to the Citizens advice, I got the felling it would take a long time to get an appointment with them.

Who have other people used, and is there anyway of doing it over the phone, or does it have to be in person.

Thank you in advance.

TBH I think it doesnt really matter who you use as a intermediary, providing you have researched, and saught advice regarding a DRO and its impact.
The debt charities (National Debtline, CAB, and CCCS) tend to have pretty long waiting lists, so some people have queue jumped by using Baines and Ernst.
No way should rely on Baines and Ernst for advice, or allow them to sway you into signing up for a DMP or equivilent. If you go with them, do so only for the purpose of speeding up your DRO application.:)