Advice for neighbour please

dorothy52

Neighbour owes £2,500 on overdraft, no hope of paying. This is only debt but less than £50 month disposable income. No assets. When applying for dro does he need to include partners income and all household expenses or just the bills that he pays and include only his bank statements etc? He is self employed so no payslips and income is sporadic, would last yrs seaplane assessment notice suffice? Thanks in advance for help

mwarby

For an DRO you need to go through an intermediary, so best asking them what paperwork they need.

Household expenses, he'll need to demonstrate that he pays his fair share and no more of these. It'd probably be easiest to declare all,expenses and both incomes(the partners income won't be taken).

The alternaltive to a DRO would be a DMP, £2500 at £50 a month would be just over 4 years, and is less of a blackmark

fatbelly

Bear in mind that if his business is running at a loss and he does a DRO now then he has deprived himself of that option for the next 6 years, if things go wrong again.

There is no minimum debt total but the maximum is 20k (from 1 October)

seaplane assessment?