DRO advice needed please..

xx_midget_gem_xx

Hiya,

I have just under £15000 of debt and have opted for a DRO, I have just requested the application pack from stepchange but am quite nervous and don't know what to expect from now on.. For example, will I have to see someone in person? Is the application really big? If my application is approved how intrusive are the people throughout the 12 months?

Also, my most recent wage slip includes just under £100 overtime which is not guaranteed and will not happen every month, will this affect my application?

What are other peoples experiences with DRO's?

I haven't missed any payments so far but I will have by next month as I have no other options, What do I do about creditors whilst I am in the application process?

Sorry for all the questions, just got a lot going through my mind lol...

Anyones responses will be greatfully received

xx_midget_gem_xx

also, can personal belongings be included in assets worth over £300?? I have an engagement ring worth £800, my TV is worth £500 roughly, and I also have an iPad which was a present at Christmas..

wba31

xx_midget_gem_xx wrote: »

Hiya,

I have just under £15000 of debt and have opted for a DRO, I have just requested the application pack from stepchange but am quite nervous and don't know what to expect from now on.. For example, will I have to see someone in person? Is the application really big? If my application is approved how intrusive are the people throughout the 12 months?

Also, my most recent wage slip includes just under £100 overtime which is not guaranteed and will not happen every month, will this affect my application?

What are other peoples experiences with DRO's?

I haven't missed any payments so far but I will have by next month as I have no other options, What do I do about creditors whilst I am in the application process?

Sorry for all the questions, just got a lot going through my mind lol...

Anyones responses will be greatfully received

You wont have to see anyone from the Insolvency Service, and the application is completed by the intermediary for you (in this case Step Change). There is no real intrusion to your life once the DRO is approved, if the Insolvency Service have any issues they contact the intermediary first, but this is rare.
If you explain to Step Change that the £100 extra is a one off, maybe send them previous proof of income to demonstrate that, then they should be fine with that. I would say stop making full payments to all creditors, instead put £90 aside for your fee, and use the remainder in your day to day expenditure as your budget will say you need to.

with regards to the engagement ring and iPad, they werent bought by you were they? so they are not your assets (engagement rings and wedding rings are a bit more sensitive then run of the mill jewellry anyway), and is the TV really worth £500 second hand? If i had £500 to spend on a TV I wouldnt look second hand when i could buy a brand new one for that, so im sure that there is no issue with those items.