Dro-debt over 15,000

callyh26

After waiting weeks for my DRO to be sorted now seems my debt has gone just over 15,100!! Im gutted and feel like crying! I felt a weight was being lifted getting this and don't know what to do next! They mentioned bankcruptsy but one i don't have 700 odd pound to do it and 2 do my circumstances have to stay the same for 6 years?? I want to go back to work, move in with my partner etc!?? Any advise welcome

debt_doctor

Hi,
In neither a DRO or BR does your circs have to remain the same for 6 years. I think you are confusing how long the insolvency stays on your credit file- which is 6 years.

It is certainly true that if your debts are over£15k then you cannot have a DRO, but i wondered if recent changes regarding HP debts (that are for essential goods and up to date) and unenforceable debts (statute barred) which now do not have to be included within the £15k total might assst you.
If there is a possiblility of this, then the situation needs more scrutiny, as there are several conditions relating to the exclusion of such debts.

DD

wba31

callyh26 wrote: »

After waiting weeks for my DRO to be sorted now seems my debt has gone just over 15,100!! Im gutted and feel like crying! I felt a weight was being lifted getting this and don't know what to do next! They mentioned bankcruptsy but one i don't have 700 odd pound to do it and 2 do my circumstances have to stay the same for 6 years?? I want to go back to work, move in with my partner etc!?? Any advise welcome

To follow on from debt doctors points about looking more into it, are any of your debts with utility companies? could you apply to trust funds to clear the debt and bring your total under £15k? also, your total could be £14999.99 and it be ok for a DRO, so if your debt is £15100, i'd advise you to pay £101 off your debts (must pro rate) and pay £90 for your dro therefore costing your £191, much cheaper than bankruptcy.

You mentioned before that you were with CCCS, I'd advise you call them to investigate the options. If you have the details for their specific DRO team they may be worth ringing as they should hopefully look into more detail with you

callyh26

Many of the debt is things like gas, electric, phone bills (all old accounts) I know it stays on file for 6 years but i understood that for a DRO my circumstances have to stay the same for a year from the date its granted so if it was granted tomorrow i couldn't go back to work/move in with my partner till after June next year as would obviously up my income. These debts range from 2006 on wards i haven't payed anything on any of them, the oldest are Tax credit over-payments which are from 2007 and i have only just been written to about them!! My overdraft was taken out in 2007 i think and once it reached its limit i haven't payed anything on it, I just get written to every few months by different DCA's

callyh26

I have about 26 different debts/creditors how can i find whether they are/should be statute barred? I dont know when i last payed just know i havent payed anything in at least 5 years!! But obviously a statement/account history would tell me but at 10 per time to get this info it would work out expensive getting all my account statements!!

callyh26

Is it worth ringing original creditors rather than the DCA'S the debts have been passed to, to see if they'd send me the info free?

debt_doctor

anything you do regarding enquiries in to potential stat barred debts is safest done by telephone so to not acknowledge the debt.
Whilst you are correct about notifying income changes within the DRO year, it would also depend upon any new outgoings associated with moving in with someone. - or you could wait until you have moved in if this is to your benefit.

DD

fatbelly

Cally - does the £15100 total include the £900 social fund loan that you mentioned previously?

SF loans have to be listed but must now be marked 'excluded' and so do not count towards the debt total.

callyh26

No i dont think so but will ring and check tomorrow that they havent included the figure, its crept just over but after ringing halifax and aqua card re credit cards today i owe each around 550 i was asked suddenly if i wanted to complain about PPI miss-selling, I never even knew PPI had been added to these cards i was told to expect a letter in 5 working days so fingers crossed this might reduce/clear these 2 debts at least!!