DRO Moratorium Period : “although there may be exceptions…”

Debt_Tired

Hello Everyone in Wannabe DRO Land

I have a query regarding the Moratorium Period. In previous postings it’s been suggested that the period of 12 months is set in stone, yet according to the official DRO guide (PDF Document);

Moratorium Period

The main effect of a DRO will be to place a ‘moratorium’ period on the debts listed in your DRO. [SNIP] The moratorium usually lasts for 12 months from the date of the order, although there may be exceptions, and after that time the listed debts will be discharged.

"although there may be exceptions…”

Can anyone expand on that? And why 12 months?

Best Wishes

Debt Tired (and in need of sleep)…

gettingbetter

sorry dont know
dro's are a new thing
someone will be along
who knows the answer

but welcome to the board

kas xx

PlasticPennies

Debt_Tired wrote: »

Hello Everyone in Wannabe DRO Land

I have a query regarding the Moratorium Period. In previous postings it’s been suggested that the period of 12 months is set in stone, yet according to the official DRO guide (PDF Document);

Moratorium Period

The main effect of a DRO will be to place a ‘moratorium’ period on the debts listed in your DRO. [SNIP] The moratorium usually lasts for 12 months from the date of the order, although there may be exceptions, and after that time the listed debts will be discharged.

"although there may be exceptions…”

Can anyone expand on that? And why 12 months?

Best Wishes

Debt Tired (and in need of sleep)…

The moratorium can be extended by up to three months if the OR wants to investigate something, or if the DRO is revoked, they can extend the moratorium to give you chance to negotiate with your creditors, rather than throwing you straight to the wolves as it were.

But there is no early discharge, 12 months is the minimum.