When does it stop?

wannabehermit

It's never ending, I'm juggling money left, right and centre, doing the shopping in sections over the week as don't have enough to do it in one go. I can't see an end to it, it feels like there's no way out but to get another DRO. We're only at the start of the summer holidays and no idea how we're going to get through the next 5.5 weeks.

Does it ever end?

National_Debtline

Hello there,

If you have had a DRO in the last 6 years you will not be able to have another. Would you mind telling us a little more about your situation? There could be alternative options. We've a useful fact sheet outlining DROs in detail, you can find it by clicking here.

Very best wishes,

David @ National Debtline.

wannabehermit

The DRO would have to be in DHs name, as 1. I've still got a year till mine drops off my credit report and 80% of the debt is in his name, but we're reluctant to go down that route, or even that of a DMP because at the moment his credit is OK, he doesn't generally have too many problems obtaining credit so we're just living as tightly as possible really, but there always seems to be something comes up to kick us back down just as we think we're getting somewhere. The money coming in all over the place doesn't help either, it would be lovely to just have all the money coming in together on one day every month, but that doesn't happen so we're juggling as much as we can.

National_Debtline

wannabehermit wrote: »

The DRO would have to be in DHs name, as 1. I've still got a year till mine drops off my credit report and 80% of the debt is in his name, but we're reluctant to go down that route, or even that of a DMP because at the moment his credit is OK, he doesn't generally have too many problems obtaining credit so we're just living as tightly as possible really, but there always seems to be something comes up to kick us back down just as we think we're getting somewhere. The money coming in all over the place doesn't help either, it would be lovely to just have all the money coming in together on one day every month, but that doesn't happen so we're juggling as much as we can.

Hello again,

Thank you for the clarification. It's a very good point you make. We often speak with callers who are reluctant to embark on an arrangement such as a DRO due to the implications with their credit rating. It may be worth having a go at completing your personal budget sheet as it will show you exactly how much you have spare each month to offer towards your debts. If it is clear that there is very little (or nothing) left over, chosing a debt option, like a DRO, may be the best route forward. I can certainly appreciate that it can be worrying not having the ability to source credit, but if it is a struggle to meet the current contractual instalments it may be better to use that money to pay towards your essential outgoings such as housing costs, food and travelling etc.

Very best wishes,

David.