DRO PPI Claim

wba31

fatbelly wrote: »

I think I would just sit on the letter. I thought this was a 'done deal'



Definitely.

Unfortunately i think it's too late for this now. Officially speaking the money is yours, HSBC have confirmed that all they now need is your bank details. I would get the money, put aside enough for a bankruptcy fee, replace any essential items that need replacing (school uniforms, washing machine if current is on last legs etc, and get advice on filing for bankruptcy.
The OR in bankruptcy will take the remainder of the cash, but it will clear your debt like the DRO would have done had it completed...

phantomraspberry

i will send off my bank details to HSBC and wait to hear from the insolvency service. Just another quick question folks ...If they revoke the DRO as appears likely, will bankruptcy be an option for approx £14,000 debts? is there a minimum amount of debt required to be 'eligible' to apply?
Thank you you lovely helpful people you x

fatbelly

There's no minimum for bankruptcy (well £750 maybe). If the court tried to refer you for a DRO, you would have to tell them that it's not an option for you.