Considering a DRO need advice

bell123321

Hi,

I used step change their were fantastic and also really quick. I went on their website and did their debt remedy thingy and agreed for them to contact me. Originally it suggested a debt plan but after speaking with them they said I met everything for a dro. From the first phone call to receiving my DRO took about 4-5 weeks. Step change were very quick in sending me stuff in the post and my credit report came back quickly too. Step change will go through your income/expenditure report, they even told me I was not spending enough on certain items. They do allow school trips etc in the budget. (I think newspapers were even allowed but I don't buy these).

I do not regret doing the DRO a big weight got lifted and for once feel normal. I know my credit rating is rubbish for 6 years from the DRO, but to be fair once the DRO is completed I just live within my means now instead of living past them so do not need credit at the moment. I have even been able to get a new mobile phone on contact since my DRO has finished (thats the only item with a credit check I have now).

If you go ahead I would advise getting a basic barclays account they accept people with a DRO as I was in a very bad situation with Halifax. I did not owe them or any of the financial partner banks anything but out of the blue they closed my account without warning. This meant all my incoming payments bounced and I was left without any money for about 3 weeks until I had the barclays account opened and the relevant companies re-paid the money in. You maybe okay but from a personal opinion I would not risk that happening, as Halifax told me that even though I owed them nothing they get notified that I was on the insolvency register and said they do not accept anyone who has a DRO etc.

Contact step change (or any other free service) but I rate step change service very highly. If you have any other questions ask away many people will try and help.

FIGHTER

Its suggested a dmp.
I really don't want to go down that route. I don't have money left to pay.

The-Inkman

FIGHTER wrote: »

Its suggested a dmp.
I really don't want to go down that route. I don't have money left to pay.

I cant see how StepChange have chosen that option, obviously you have less than £50 left a month after bills so you cannot afford your debts. This is what they say:

Eligibility
You’re generally eligible if you meet all of these criteria:

you owe less than £15,000
you have less than £50 a month spare income
you have less than £300 worth of assets
you’ve lived or worked in England and Wales within the last 3 years
you haven’t applied for a DRO within the last 6 years

FIGHTER

I don't know where to turn now. My head hurts from stressing I don't know what to do

sortingdebts

I wouldn't take the result it gives as gospel - when I first used National Debtlines tool online for recording all your incoming/outgoing and suggestions for sorting the debt out, a Dro was one of a few things, including a dmp and other suggestions.

I would suggest actually speaking to someone on the phone or in person, either Stepchange, or National Debtline or even try to make a Cab appointment in person.

From what you say you should be able to go the Dro route, so don't take what it says as the final answer.

FIGHTER

Tjanks sortingdebts.

I'm worried because I have just clawed back money from one creditor that was paid through a continuous payment authority and I think I may get into trouble for doing so.
I clawed the money back because I had nothing

FIGHTER

Me and partner claim esa. Can they take his half of the money into consideration

sortingdebts

FIGHTER wrote: »

Tjanks sortingdebts.

I'm worried because I have just clawed back money from one creditor that was paid through a continuous payment authority and I think I may get into trouble for doing so.
I clawed the money back because I had nothing

I'm not sure really. But like I say, best thing to do is probably speak to one of these debt folks - they will go over everything with you, your situation and everything debt related. If you are worried about certain aspects, bring up as much as you can and they will be able to tell you whether it would affect going for a Dro or not.

Do it as soon as you can.

FIGHTER

Everything is just really getting to me. I don't feel like I can cope snymore with anything

bell123321

It suggested a DMP for me too but when I actually spoke to step change they said to do a DRO. Give them a call or its an 0800 number so free from a landline (or some mobile providers) they are really nice and non judgemental.