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

elfieb

marescino wrote: »

Mate, that is invaluable information :T

Very much appreciated - Its been a hell of a demon to live with, always wanting to have a punt on something in the off chance that you'll land a fortune. The figure i came up with reflected some previous debts that i had which were paid off when i was employed. The 11k is what is left and is taking an eternity to get rid of.

Its really important for me and others to know that we are not the only ones and other people are going through similar times and are happy to share their experiences.

Please continue to update the 'diary' - i for one will be checking in as often as possible

:T

no worries, Ill keep updating as my 30 days pass!!!

elfieb

Recieved my offical notice of DRO this morning.
For some strange reason it appears to be missing a number of pages!!! Cant find certain sub-sectons that are mentioned! Hey ho though, if need be, Ill look them up on ol t'internet!

Day 2, and I expect creditors will be recieving notification of my DRO any day now. Still not able to relax much, feel it is almost inevitable that a appeal will happen with at least one of my creditors. For some unknown reason I fear RBS and Capital One will be the worse offenders, dont ask me why, just a gut feeling I have!

elfieb

Capital One sent me a letter to say they had accepted my token payment of £1 a month for 6 months......wouldnt freeze interest though!!!!
Too late now, but only creditor to have responded to my offer of token payments.

marescino

Had a quick question for bud, While your were sorting out the DRO, what did you tell your creditors ? Did you make token offers or tell them you were working on a solution ?

I know that the letters and calls will never stop and telling them you are going for a DRO is not a good idea, but is there any way to keep them midly content in the interim ?

Glad to hear things are moving along for you - I really hope none of them contest it - keeping my fingers crossed for you

elfieb

marescino wrote: »

Had a quick question for bud, While your were sorting out the DRO, what did you tell your creditors ? Did you make token offers or tell them you were working on a solution ?

I know that the letters and calls will never stop and telling them you are going for a DRO is not a good idea, but is there any way to keep them midly content in the interim ?

Glad to hear things are moving along for you - I really hope none of them contest it - keeping my fingers crossed for you

I stopped paying creditors at the end of March. Phone calls came thick and fast from there on in, so I set up a block on my phone blocking certain numbers and withheld numbers....basically that did the trick!!!:p

On advice from NDL, I sent letters to all of my creditors offering token payments of £1 until circumstances improved.
Didnt hear from any of them except for Capital One who informed me today via letter that they would accept my offer for 6 months.......very nice of them, but too late now!!!
Token payments are just a show of good will, they arent going to reduce your debt at all, but shows people (creditors, OR, etc), that you are trying and making some effort.
Failing that, you can also send a "hold action" letter, which basially informs your creditors that you are seeking advice and that you would appreciate if they witheld taking any action for a period of 28 days.
Templates of both letters can be found on National Debt Lines website

There isnt a guarantee that either letter will work, but keep copies, send them recorded delivery if possible, and you have something to back you up if any questions are raised.

elfieb

Quickity,quick update......

Recieved letter from Capital One this morning, an official default as I am now under the rescrictions of a DRO.
I take this to mean that they wont be appealing (touch wood, fingers crossed and all that!!!!)
1 down, 4 to go.............................

charlie12345_2

Good luck Elfieb, keep us posted. :T

elfieb

Day 12

Recieved statement from RBS showing added interest regarding overdraft. This has thrown me a little as wasnt expecting to still receive letters regarding interest and the like. Mind beginning to wonder thinking that they have or a planning to appeal.
Rang insolvency service and they confirmed that all creditors would have received notice of my DRO the same day I did. So why are RBS sending me interest statements?????????
Feeling rather unsure once more

marescino

Hang in there bud, i'm keeping my fingers crossed for you

tigerfeet2006

elfieb wrote: »

Day 12

Recieved statement from RBS showing added interest regarding overdraft. This has thrown me a little as wasnt expecting to still receive letters regarding interest and the like. Mind beginning to wonder thinking that they have or a planning to appeal.
Rang insolvency service and they confirmed that all creditors would have received notice of my DRO the same day I did. So why are RBS sending me interest statements?????????
Feeling rather unsure once more

Nah! the left hand doesn't know what the right hand is doing with these big firms. It sometimes takes months for all the departments to sing from the same hymn sheet. So don't panic and just carry on as normal.