Another DRO question...end of moratorium??

elfieb

As some on here are looking forward to the end of the 12 month DRO soon, I have been trying to do some research on what actually happens upon completion of the moratorium period.

Alarmingly I happened to stumble across this :

"The OR can revoke a DRO during or after the conclusion of the moratorium period,

unlike in bankruptcy."

and again :

"However, in relation to the above it should be noted
that the moratorium period can be extended to 15 months and moreover that the Official

Receiver has the powers to revoke a DRO even after the conclusion of the moratorium."



Full article can be found here:
http://www.lacef.org.uk/documents/dros_faq.pdf

Now this is something that I have previously been unaware of.
Does this mean that the threat of a DRO being revoked is still something that is possible after the completion of moratorium?

cupcake83

I didn't know this either! bumping it up in the hope someone can offer advice.

elfieb

Once again, the information around DRO's are as clear as mud.

It appears that even after the moratorium, an appeal can be made to the court to revoke the order, under the provisions of section 251M of the Insolvency Act.
For those that want a look the legislation is here:
http://http://www.statutelaw.gov.uk/content.aspx?LegType=All+Primary&PageNumber=2&NavFrom=2&parentActiveTextDocId=0&activetextdocid=3592417&versionNumber=1

Can anyone tell me what this means in laymans terms?
Do DROers have to stay within the boundries of a DRO for the rest of their days, incase an appeal is made in the future?

cupcake83

I'm hoping this is in cases where a DRO should not have been approved in the first place, for example if they came across some information that showed the person did not meet the requirements.

duncsmissh

I have had a look on the insolvency web site but the search comes up with no record.

fatbelly

If information comes to light which reveals that the initial application should have beed declined, or revoked during the 12-month period, the DRO can be revoked even after it has finished. I think this has happened to a couple of them recently. I can post some more info later.

But it's nothing to worry about