About to request a DRO.

currumbawumba

Hi. Thought I'd revisit this forum after many years away from it (about 7 I think) to help me take the plunge with a DRO. I have been slowly shaving away a £13,000 debt to a variety of creditors via StepChange for about 6 years. I'm down to £10,000 now. I've been offered a DRO which I am very relieved about but in the last year I have incurred another debt that I haven't yet mentioned to StepChange. I have run up another (high interest) credit card to £1,000. I feel so embarrassed to have to admit to StepChange that I have this credit card that I was going to try and repay it. I wrote to the credit card requesting that they freeze the interest and I have cut up the card. Really, I'm not being realistic. I need to include it in the DRO. I guess I'd just like some feedback from someone. I'm sitting here with all the paperwork and I need a bit of encouragement please!:o

National_Debtline

Hello there,

I've helped many a caller through the DRO process. As options go it is fast and relatively painless. Given what you've said in your post, I'm not sure your current arrangement has worked for you. I think you're right to consider alternatives - and a DRO sounds like it could be the right route.

You're right to include all debts.

Best wishes,

David @natdebtline

wba31

currumbawumba wrote: »

Hi. Thought I'd revisit this forum after many years away from it (about 7 I think) to help me take the plunge with a DRO. I have been slowly shaving away a £13,000 debt to a variety of creditors via StepChange for about 6 years. I'm down to £10,000 now. I've been offered a DRO which I am very relieved about but in the last year I have incurred another debt that I haven't yet mentioned to StepChange. I have run up another (high interest) credit card to £1,000. I feel so embarrassed to have to admit to StepChange that I have this credit card that I was going to try and repay it. I wrote to the credit card requesting that they freeze the interest and I have cut up the card. Really, I'm not being realistic. I need to include it in the DRO. I guess I'd just like some feedback from someone. I'm sitting here with all the paperwork and I need a bit of encouragement please!:o

In my experience of Step Change doing DRO's they are not concerned about stuff like that, they are more interested in ensuring all debts are included.

The only thing to be careful with however, when was this money borrowed? creditors can object to the making of a DRO if monies were borrowed recently, and if they feel you had no intention of repaying, but that second point is irrelevant if you had made some payments as you said you intended to.

but by all mean tell them about it, they'll make sure it's included (as they have to!)

currumbawumba

Thank you for the replies. I have just read through the restrictions and see that I cannot have any HP arrangements. I hire my washing machine - will this not be allowed? Seems harsh.

wba31

currumbawumba wrote: »

Thank you for the replies. I have just read through the restrictions and see that I cannot have any HP arrangements. I hire my washing machine - will this not be allowed? Seems harsh.

Washing machine is an essential household item so should be ok