DRO's

Mjollnir14

I've been thinking about down-sizing my car, DD. I want a smaller car that is less on fuel costs, less on insurance, less on road tax; and by the time I've sold my car in it's current condition, I'd obviously have to buy a cheaper, older and therefore lower-value car. Would the Intermediary see this as some sort of con/trick to get a cheaper-valued car?

debt_doctor

There are no questions around the car other than do you own one and what is it worth.
If you want to sell your car that is up to you. If you want to downsize your car, that is up to you.

DD

Mjollnir14

Two final questions (I hope)...
1. To whom do I apply for a DRO etc? Is it the local CAB?
2. If I'm already paying one of my debts (40.00 per month), would that debt also be included in the DRO and it's cancellation of all my debts, or will I have to continue paying that one?

debt_doctor

Mjollnir14 wrote: »

Two final questions (I hope)...
1. To whom do I apply for a DRO etc? Is it the local CAB?
2. If I'm already paying one of my debts (40.00 per month), would that debt also be included in the DRO and it's cancellation of all my debts, or will I have to continue paying that one?

Why are you continuing to pay that debt and not the others?

DD

Mjollnir14

Well... I'm not, as yet. They are sending me a Direct Debit mandate out this week. As for the other debts, I wouldn't be able to afford any other repayments while paying 40.00 per month off this one.

debt_doctor

Mjollnir14 wrote: »

Well... I'm not, as yet. They are sending me a Direct Debit mandate out this week. As for the other debts, I wouldn't be able to afford any other repayments while paying 40.00 per month off this one.

Don't start paying it or you might be guilty of preference. You have to declare preferences within the last 2 years, although I see some 'hysteria' around the preference issue, but anyway - don't pay it.

The CAB do almost 80% of all DROs, but others are National debt line, Step change, shelter and more.....

DD

Mjollnir14

DD, I'm extremely grateful for your advice on all this... I need to get the wheels in motion (no pun intended) for sorting the car issue out, and then arranging a DRO - before the other debt I mentioned earlier gets paid.
Thanks again for your help :-)

hannahrichards

What do they go off, the forecourt price, private sale, trade in, or auction price?

Thanks

debt_doctor

hannahrichards wrote: »

What do they go off, the forecourt price, private sale, trade in, or auction price?

Thanks

Private poor and private good - they take your opinion of whether a car is in poor or good condition.

DD