DRO including all debts

MorrisJames

Hi. I have been told a DRO is my best option. I am getting everything together to apply for a DRO.

Its hard to include all debts. Im sure I had a couple of mobile phone things pursuing me. Not heard from any of them in a while. I have no letters or contact info.

I have all my other debts down to under £10K so there is room to include these others but I cant find details, and my income leaves less than £50mnth.

I think it was three network and another company, but the debt got sold on to someone else.

I got half a mind I had other debts that are less than 6yrs old but not heard anything about them for a few years. I know I didnt pay them off yet. Any idea how I can make sure I get all my debts included?

egrescrimp

Order a copy of Statutory Credit Report from the three credit agencies for £2 each.

http://www.experian.co.uk/consumer/statutory-report.html
http://www.equifax.co.uk/Products/credit/statutory-report.html
http://www.callcredit.co.uk/consumer-solutions/your-credit-report/statutory-credit-report

Good luck with your DRO

MorrisJames

egrescrimp wrote: »

Order a copy of Statutory Credit Report from the three credit agencies for £2 each.


Good luck with your DRO

Thanks but I dont want to keep paying £2 to look at my report. I know its messy and really bad. I did pay for it a while ago.

If these phone debts haven't got in touch with me for a while then I cant include them in the DRO?

I think they are almost 6 years old by now so maybe they are too old now?

egrescrimp

I would recommend including them, they may not be able to take you to court but they can still hassle you for the payments.

You should only need to buy them once more to include in your DRO, it is the best way to include everything thats still live on your current credit report. You could also call the old providers to ask them how much you owe

National_Debtline

MorrisJames wrote: »

Thanks but I dont want to keep paying £2 to look at my report. I know its messy and really bad. I did pay for it a while ago.

If these phone debts haven't got in touch with me for a while then I cant include them in the DRO?

I think they are almost 6 years old by now so maybe they are too old now?

Hi MorrisJames

I would strongly recommend that you list all debts in an application, even if you believe some of them to be over 6 years old. Unless a debt has been firmly and independently established as "statute barred", it should be listed; a debt being "close" to 6 years old is not enough. Otherwise, you run one of two risks:

(a) The old debt(s) come to the attention of the Insolvency Service after your DRO has been approved, and they push your total over £15K (unlikely here, I realise). This would most likely result in your DRO being revoked and all debts become recoverable once again.

(b) The old debt(s) resurface after your DRO has been approved and start chasing you. They would be entitled to do this as they were not included in your DRO application.

You could contact Three regarding your old account with them as they should be able to tell you when it was sold on and to who.

See the following links from elsewhere within MSE on how to check your credit reports at no cost:


http://www.moneysavingexpert.com/news/banking/2011/12/noddle-to-offer-free-credit-reports

http://www.moneysavingexpert.com/loans/credit-rating-credit-score#check
Good luck

Dennis
@natdebtline

MorrisJames

Thank you so much. Yes I will do the free trial for 30days, then print out all the details of all creditors to include in the DRO.

If its not on the credit files then I cant include it right?

National_Debtline

Hello there,

If you know that a debt exists, do ensure that you list it within your application. Some debts may not show up on your credit file(s) for one reason or another.

Best wishes,

David @natdebtline

MorrisJames

Quick question please, I have a current phone contract all up to date nothing owing, can I keep that going?

National_Debtline

MorrisJames wrote: »

Quick question please, I have a current phone contract all up to date nothing owing, can I keep that going?

That should be OK - so long as you're on a reasonable price plan.

- David.

MorrisJames

National_Debtline wrote: »

Hello there,

If you know that a debt exists, do ensure that you list it within your application. Some debts may not show up on your credit file(s) for one reason or another.

Best wishes,

David @natdebtline

I am just trying to find details about it.

It is from years ago now, but I used to get calls from some debt company several months ago now was the last time I heard from them saying I owe someone about a grand or something from a disagreement about a phone contract from years ago.

But its not on any of my credit reports. I dont know how to find out who owns the debt now, if indeed it still exists.

I have room, I only owe around £10K to the banks.

fatbelly

If you can't find old correspondence on this then it may be worthwhile just waiting for a month or two to see if they contact you. Often when you update your credit file it alerts those looking for you to your current address.

It wouldn't do any harm to contact the other CRAs - Noddle is a free sign-up and a statutory report costs £2 as in post#2