When to apply for DRO?

wba31

DorisTrousers wrote: »

For any newbies reading this thread, just to confirm that the DRO limit has gone up to £20,000 and there is no longer a 6 month time limit to pay for it.

I didnt think there was ever a 6 month time limit on the fee? i thought that was a myth? I've seen many cases go through where the fee was paid over a long period of time

DorisTrousers

From Intermedairy guidance 12

"A DRO application can only be considered for determination once the application fee is paid in full. As such, the fee for entry into a DRO must be fully paid before the Official Receiver will consider the application. Debtors can pay the fee in instalments to suit their particular financial situation, and can pay in as many instalments as they choose until the entire application fee is covered, however a six month limit from receipt of the first instalment has been set, for full payment to have been received by the Insolvency Service."

An application from start to finish may have taken longer therefore, I have one on my desk that we are approaching a 10 month anniversary, but from the first part payment the time limit used to be 6 months.