Has anybody cpmpleted or going through a DOR?

gizmochic

Please can you share your experience and any TIPs, I have only just heard of this and I am considering it. Thanks.

Godiva500

If you go to the thread at the top of this forum about DRO's, you can read this and it will give you all the info. If you meet the criteria, it is very easy.

serenity34_2

I haven't been through it myself but I am an approved internediary so I have made applications on behalf of other people and have a good knowledge on how they work.

It's impossible to give someone accurate advice in relation to dealing with debts when I don't know anything about their circumstances, however. I would strongly recommend you call a charity like National Debtline free on 0808 808 4000 for free confidential impartial advice on ALL of your options.

Your options will depend on your level and type of debt, whether you have any assets and what their value is and what your income / essential expenses are as well as some other variables.

Broadly speaking, to qualify for a DRO you must have debts below £15k, you cannot be a homeowner ( even if no or negative equity ), you cannot have any assets worth over £300 ( £1000 for a car ). Bear in mind that if you or a company you have worked for have ever paid into a pension for you ( and you aren't drawing on it yet ) and the fund vaue exceeds £300 this would disqualify you from applying too.

It's a £90 fee ( non refundable) and an online application which MUST be done by an approved intermediary. This is someone who's an experienced debt adviser. Larger organisations have 'competent authority' status which means they can then appoint intermediaries. Organisations such as CAB, CCCS, Payplan and National Debtline can all deal with DRO applications but you are likely to be waiting 8 weeks or so in some cases.

Hope this gives you some basics to think about. I'm not able to post links yet but if you go to the National Debtline website and look at their factsheet list there is a good basic one on DROs.

I would complete their online budget sheet before you speak to anyone so they can be more specific with the advice too