Debt Relief Orders (DRO) - Information & help thread

collywollys

does a car on HP class as an asset regarding a DRO

many thanks

lauren_1

I have sent off my application and statements to the cccs, i sent that on monday and my total stood at £13,894. but since then have accrued £138 in charges, my barclays account is in its reserve and is accrueing £22 a day from what i can make out, i dont really understand the barclays reserve jargon.

What would happen if i went over the £15k limit whilst the application was being processed?

immoral_angeluk

You won't be eligible if your debts are over 15k at the time of your application.

immoral_angeluk

collywollys wrote: »

does a car on HP class as an asset regarding a DRO

many thanks

No, it comes under the 'can't have a car over 1000 in value' rule, rather than being an asset.

David_mac

Hiya,

Ive applied and been accepted for a Debt Relief Order some time ago now on the 21st of january and i have the letter to prove it, BUT 2 of my creditors are still sending me threatning letters all the time, Welcome Finance and Argos. Can some one Help me on this please on why there still doing this and if they should be doing this as iam getting abit concerned by it??

Thanks

cupcake83

David_mac wrote: »

Hiya,

Ive applied and been accepted for a Debt Relief Order some time ago now on the 21st of january and i have the letter to prove it, BUT 2 of my creditors are still sending me threatning letters all the time, Welcome Finance and Argos. Can some one Help me on this please on why there still doing this and if they should be doing this as iam getting abit concerned by it??

Thanks

Hi David,

If I were you I would speak to the IS, they should hopefully help you out with this. When my DRO was approved I was told that if my creditors didn't stop hassling me within 2 weeks to contact IS so they could have a word with them.

Good luck

Keeping_Positive

OHs DRO through :j

so happy to finally tell the creditors where to go. Will do some letters this weekend.

kate252

debt_doctor wrote: »

hi all, and a very happy new year to everyone.:beer:

Just a reminder to look out for those who may benefit from the new debt relief orders ( dro) coming in to force in april this year. There is info on the net but these are the main practical features;

total debt must be no more than 15k

must not be a homeowner ( not even with neg equity)

assets must be below £300 although a vehicle upto £1000 is always exempt.

Disposable income ( after all reasonable expenses) of £50 or less. ( no provision of ipa's )

only the debts listed will be wriiten off. If a debt comes to light that pushes over the 15k limit then the order will be revoked.

The conditions regarding restrictions on employment, borrowing, trading whilst undischarged are all the same as br.

Debts that can go in to br can go in to a dro.

If applicants financial situation improves within the year then then the order may be revoked or applicant may be asked to contributr towards debts.

No early discharge.

main advantages;

there is no involvment of the court.

The cost is £90, and is able to be paid in instalments through payzone and post office outlets.

There is no local newspaper advert or placed in the london gazette. Dro info is available on insolvency service web site.

You must apply through an intermediary ( cab, cccs, nat debtline etc) so advice must have been taken. Intermediary will asist with application, which is on line only. No fee can be charged by any intermediary.

My thoughts;

are that most will be excluded via the 15k ceiling. Definately not suitable for someone in possession proceedings who may expect mort shortfall. Those applying must be certain about what they owe and who to. (biggest practical problem i think)

useful for non home owners, with comparatively low debts who struggle to find the £360 + for br.

What do you think ?

edit; if you have a pension ( even just opting out of serps ) with a fund value of over £300 then you cannot have a dro - which is ridiculous,but true.(unless the pension is already in payment)

make sure that you apply for your credit report from experian before you apply for a dro. If your report says you are over 15k or your personal details are incorrect then your dro may fail.

best

dd

what happens when you take a loan out a week before the debt order- can the creditor contest it? I did my debt relief yesterday- but a week before this i took out a loan from provident- i dnt feel bad as provident are legal loan sharks and shuld be stopped. It feels good to do that to them- they wanted me to ay 875 back for getting 430 (after payig off the previous ) i knew they were bad but i didnt know i would have to pay the same amount ive borrowed twice

kate252

Can a creditor contest a det relief order?

baby_miece

Hi can someone please help me!! I am trying to find out how much my car is worth, I have put in details on several sites and they come back saying my car is worth between 600-1400 - well how do I know what the OR or DRO people use to work out it's value? I owe my Dad a lot of money which he desperately needs back now (he has helped me pay my half of the rent for some time now) and I was thinking of selling my car to my partner as I don't use it anymore and he does so it is technically his car at the moment anyway but in my name.....would this be seen as 'cheating the system' in their eyes. I am really not as he would pay me the right amount for it but I would use the money to my Dad and BIL back the money I have borrowed.....?!?

please help I think this is the only option for me but I do not want to sell the car and be accused of anything, so if I have to wait to sell it so as not to look that way then I will - can anyone shed some light please?

Also I was previously told on here that my NHS Bursary won't affect me (after all considered as monthly income) but would a student loan? Is that getting credit ver £50 or is it treated as something totally different?

Thanks in advance for your help!!