Advice for Newbie on DRO

beerme_2

Hi all, new here so go easy....

......so long story short, after lots of researching it looks like a DRO is the best choice for us, but I just have a couple of queries for you experts before I pick up the phone to debtline......

....most of the debt is in my name, or joint names, BUT, one sizeable debt, 4K-ish, is in my partners name.....so my question is -

will I be able to include this debt in a DRO under my name?

OR

will we have to, indeed, are we able to, have a joint DRO so that all debts, who'sever name they are in, can be included?

OR

will we HAVE to do it in joint names anyway.......?

Thanks for any advice in advance.
Dave.

wba31

On your DRO must be included all debts in your sole name, and any joint debts with your name on it. The debt in your partner's name only cannot be included.
Your DRO will simply remove your name from the joint debts once completed, and your partner will be left solely liable for the full balance.
If your partner does a DRO as well, then the full balances of all debts with your partners name should be included

ruky_uk

beerme wrote: »

Hi all, new here so go easy....

......so long story short, after lots of researching it looks like a DRO is the best choice for us, but I just have a couple of queries for you experts before I pick up the phone to debtline......

....most of the debt is in my name, or joint names, BUT, one sizeable debt, 4K-ish, is in my partners name.....so my question is -

will I be able to include this debt in a DRO under my name?

OR

will we have to, indeed, are we able to, have a joint DRO so that all debts, who'sever name they are in, can be included?

OR

will we HAVE to do it in joint names anyway.......?

Thanks for any advice in advance.
Dave.

You cannot have a 'joint' DRO - you both need to have a DRO each.

Your DRO will include all debts in your sole name as well as all joint debts.

Your partner's DRO will have all of their debts as well as any joint ones (which you both will mention in your own DRO).