Diary of a complete plonker....DRO or Bankruptcy here I come!

elfieb

Thought I would start my own diary, as I seem to be posting on here quite often now, and very often highjacking other peoples threads!

Well here's my situation:
Mid 20's, made unemployed at the end of last year, living off savings and overdraft whilst not working, desperately hoping for a miracle, then CRASH, savings run out, overdraft maxed out and in around 10k of debt.
First thing to do was bury my head in the sand, but quickly came to the conclusion that that was not going to work!

So I set on my merry way, trying to gain some control back in my finances!
I got intouch with the lovely people at NDL, who advised me to apply for a DRO. I meet the criteria, no assets, no car, nothing of any major worth, my current payments to my creditors outnumbering the money I have coming in.
First thing I do is claim JSA, not as scary as first thought! I get sent my DRO application form, fill it in, send it back and wait.................approx 2 weeks for an appointment with an intermediary :eek:

My debts have largely been formed through gambling, something that I am very ashamed of. It was a case of one big win, creating a need for another big win that never happened. Im seeking help for it now Gamanon and the like, and feeling more in control of it than I have been for the last 2 years. Im just terrified that my gambling will be my undoing when going for a DRO.
If I was a creditor, and I had seen someone waste money like I have done in the past, I would not be happy to just write it off, and Im fairly sure that my creditors will feel the same way.
Ive tried finding out as to whether a DRO can be refused under such criteria, and have yet to find a conclusive answer as yet

Anyway thats about it for the moment......waiting for my intermediary appointment. In the mean time, I am going to start looking into bankruptcy, should a DRO be refused.

iquit

Welcome and good luck with whatever you decide to pursue as the way out of your debt problems. Well done on facing the gambling problem.

elfieb

Oh and whilst I think on......

Sent letters to all of my creditors offereing token payments on 7/05/09.
Also set up phone to block witheld numbers and numbers I choose to block, just to prepare for the onslaught of creditor phone calls I fear coming my way!!

elfieb

Monday morning 9am, email Insovency Service as surely they will be able to provide answers to my questions!!!!!?????

"Dear Sir or Madam,



I am currently waiting for an interview with an intermediary regarding a DRO.

I have a few questions which hopefully you can answer for me, as relevant contacts at National Debt Line have been unable to:



1) My debts have largely, but not totally been formed due to gambling. Is this a situation that is likely to have a DRO refused?

2) Is it the case as in bankruptcy, when the OR makes his decision is it final, or can creditors appeal against the order and it then be refused? If so under what reasons?


3) I understand that the only obvious reason for a DRO to be refused is not meeting the criteria, is this the only reason?"


Their reply...............

Please be advised that all cases for Debt Relief Orders are reviewed on a case by case basis.

I am not able to advise on your specific debts as they will need to be reviewed by the Intermediary at the time of submission.


Im getting incresingly frustrated by the whole thing. No word from NDL regarding interview with intermediary.

elfieb

After a mini meltdown this morning, I have decided that bankruptcy is perhaps the best course of action for me.

Creditors are piling on the pressure daily, and I dont really have time for a DRO to go through and then be revoked simply on the basis that a creditor appeals.
The way I see things, I am either insolvent or Im not, and we have already established that I am!!!!!
On saying that though, I am expecting a phone call from CCCS sometime this week to discuss DRO. That will really be the last throw of the dice, if they cannot clarify the whole "gambling debts" scenario, then I will cast the DRO aside and concentrate on bankruptcy, as much as that scares me to do so.

elfieb

Got my interview with intermediary tomorrow!!!!! Feel very very scared!!!!

In one way, it will hopefully clarify whether I stand any chance of a DRO, so one way or another, tomorrow night I should have a better idea of the way things are going to go.

I keep saying to myself "if you are insolvent, you are insolvent", surely it cant be down a creditor to turn round and say that Im not insolvent just because I was stupid and careless with their credit?? I have learnt my lesson, I never EVER want credit again!! If i cant afford to pay for it outright, I dont want it!!!!

beentheredonethatstilhere

Good luck with the interview, hopefully you can get some more definative answers tomorrow. Unfortunatly with the DROs being so new it is so difficult to know what is what.

If you do go for bankruptcy then if gambling forms a significant part of your debts then you will probably recieve a BRO.

elfieb

Been sat waiting for the intermediary to phone since 9am this morning!!!
Its 4pm now and I have an awful feeling I have forgotten, or worse still they have found some problem with my application.
Trying to ring NDL, but the lines are so busy I have been cut off twice!!!!

elfieb

Just got through to NDL, apparently I am not being called today, and they dont know when

elfieb

Ooooohhh the stresses and strains of these b****y DROs!!!!!!!!
Just a quick recap to fill you all in as to where Im at!!!!!!

Contacted NDL last Thursday, who informed me that the current waiting time for interviews with intermediaries is 6 weeks!! Nearly fell off my chair at that point! Simply could not hold out for 6 weeks!!!

Gathered my thoughts and decided to do something that may or may not have been advisable! I contacted Baines and Ernst!:eek:

Within an hour, my interview with an intermediary had been completed, barcode emailed to me, paid my £90 and applacation submitted!

Having previously worked for Baines and Ernst, I realise what a dodgy company they actually are BUT I was only using them for the service of intermediary. Any intermediary will talk you though the same application, so it was just a nifty way of queue jumping!

Having said that, they still couldnt advise of the implications of gambling, Im kinda thinking maybe I am making too much of a big deal out of it!

Anyway sat waiting today to see if my application has been accepted. Im on pins and feel sick to the stomach.

Will update later with any news!

FraudBuster

This may help:

gambling, rash and hazardous speculation or unreasonable extravagance which has materially contributed to or increased the debt;

http://www.insolvency.gov.uk/bankruptcy/DRO/creditors.htm