Dizzymum's DRO Diary..

elfieb

I know exactly how you feel DM, Im in 2 minds about scraping the DRO idea all together and just going for full blown bankruptcy. There are just 2 many uncertainties.

I rang NDL this morning for their advice as to why it could be refused, and they didnt really have much clue either. At least with bankruptcy you know where you stand from day one almost.

I just feel sick with worry at the moment

elfieb

Just typing as I think here, if any creditors were to refuse, and the order revoked, whats the point?
It obvious you have no assets, no way of paying as you wouldnt of been accepted for a DRO thus far? So what are they going to achieve? In my case if DRO gets refused, Ill be going for bankruptcy, so they still arent going to get any money.

Dizzymum_3

Godiva thank you so much for calming me down, you have been a real rock of support. :A and i should also thank Mr Godiva, for waiting patiently for his breakfast while i had a nervy B on the phone

x

Dizzymum_3

elfieb wrote: »

Just typing as I think here, if any creditors were to refuse, and the order revoked, whats the point?
It obvious you have no assets, no way of paying as you wouldnt of been accepted for a DRO thus far? So what are they going to achieve? In my case if DRO gets refused, Ill be going for bankruptcy, so they still arent going to get any money.

elfieb i agree with you there on all counts, and i will also have no choice but to go for bankruptcy if my application is declined / revoked.
Intermediary could see no problem/cause of concern with my application so fingers crossed.

x

elfieb

Ive just emailed the insolvency service, as someone must know reasons as to why a DRO could be refused.
Its ok everyone saying "its new legislation so we arent quite sure...." SOMEONE MUST HAVE ANSWERS!!!!!!!!
Ill post back if and when I get a reply!

elfieb

Hey all, just heard back from the insolvency service, heres what they said:

"
An application for a DRO will be refused if the applicant does not meet the eligibility criteria. Your intermediary will be able to tell you what the criteria is, and should be able to tell you whether you are likely to be eligible.

Your creditors cannot refuse your application for a DRO. Whether your application is accepted or refused will be decided by the Official Receiver, and the decision will be based upon the information that you and your intermediary put in your application, and the checks that we make to validate that information. "

Dizzymum_3

elfieb thankyou very much for sharing that information, You have put my mind at rest. :A

Dizzymum_3

This is going to be a long weekend of waiting, finger nails are already down to the knuckle, hair is grey, can't sleep, can't finish anything, feel like head less chicken, but the waiting will be over by next week.

Thank you again to everyone here for your support & guidance and kind words. :A

elfieb

I know exactly how you feel DM, but unlike you I am a long way off actually completing a DRO.

Thinking of you this weekend

windsorblue

hi dizzymum well at least you are almost there you will be in the first 100 or maybe 1000 or more every cab seems very busy i wish mine would ring if only to say im getting close im on tenderhooks all the time keep checking income and ex sheet have i done it right im on husbands pension credit so money is tight anyway goodluck look forward to you saying YES ive got it