Coming to end of DRO what happens now?

Crisp_£_note

Hi I have a DRO which will be 'up' at the end of March. I wondered what happens, if anything, as this date approaches or passes?

Will I get a confirmation letter from DRO or the companies I owed monry to that I dont owe any anymore (I applied via National Debt Line)? Or will I get a letter to say DRO order has been extended? As far as I am aware I have complied to the terms of issue.

I also may have a few PPI and bank charge reclaims I could make and wondered if I would be possible to try and claim it back or is this against the DRO rules? If it is then I would prefer to miss out on what is owed to me than affect my DRO.

I dont intend to get any more loans or credit cards or borrow again but how long will the DRO affect my credit score and what can I do now to start repairing this in case later in life I find I have to for whatever reason?

Sorry for so many questions but I havent had a follow up from NDL so not sure what happens next.

Thanks

debt_doctor

Hi,

You will not get any notification of the end of your DRO, it ends automatically after one year unless you are informed of a 3 month extension, which would be rare and a reason would be needed.

Unlike bankruptcy, a person previously under a DRO can apply for a refund on PPI or bank charges so long as the amount owing wasn't quantified prior or during their DRO.

DD

Crisp_£_note

debt_doctor wrote: »

Hi,

Unlike bankruptcy, a person previously under a DRO can apply for a refund on PPI or bank charges so long as the amount owing wasn't quantified prior or during their DRO.

DD

Thanks for the reply. Sorry but I dont understand what you mean by quantified?

I had the PPI's and credit cards befrore I took out the DRO but it was only this month I realised I may be entitled to reclaim the charges. I was going to wait until my DRO is clear.

How would I start to rebuild my credit history now? Or do I have to wait the full 6 years is served and the DRO is voided until I can begin this?

Thanks.

debt_doctor

Crisp_£_note wrote: »

Thanks for the reply. Sorry but I dont understand what you mean by quantified?

What I meant was that although you feel you may have a claim, you do not know if it will be successful and you at this point in time do not know how much you would receive.

If whilst under a DRO, you knew (or quantified) the above then the award would revoke your DRO whether actually paid out during or after your DRO had ended.

To be safe do not claim until your one year moratorium period is up. It is the DRO unit (the Insolvency Service) who have notified Authorised Intermediaries that someone post DRO has the right to make a claim, providing they didn't quantify it before or during the DRO.

Beware that you are entering new, unchartered teritory, and you need to satisfy yourself with your claims company in writing that any claim will be paid direct to you.

DD

Crisp_£_note

Thanks for the clarification. So as far as the 1 year goes can I make an application to reclaim my mis sold PPI and charges from April (as my DRO 'expires' end of Match) or will I have to wait until April next year (2013) before I am safe to proceed?

Thanks again for the confirmation

debt_doctor

I would leave it until 3 months after your DRO has expired - 15 months after it started.

DD

helpPlz

Hi Debt Doctor & everyone else.

I'm in a similar situation or a close member of my family is and I'm seeing if I can help them out as they are in financial difficulties.

They've had loans, credit cards etc since the 1980's paying off every month, in the good days, paying in full and then filling up and round the same circle and later in life when things became tough paying bare minimum for God knows how many years until they did a DRO which has now been over a year.

Would you advise they see if they can do the PPI claim without the DRO back-firing or affecting them any other ways - they are fragile in health terms due to financial burdens so can't give them a shock - they may even prefer not to do it because the're glad that the DRO is now finished.

Many thanks