thinking of applying for a dro

wba31

the fee is £90, not £95.

As advised previously, you need to be certain of all debt. You can check all 3 credit reference agencies but payday loan companies do not update these credit reports, so if your concern over what debts you do or do not have extends to pay day loan companies, you could be risking entering a DRO, missing some off and being left liable post approval. If this is a risk, I'd be inclined to recommend bankruptcy as all debts are included, irrelevant of their listing on the form or not.

With regards to Lowell, calling them will not achieve anything. If you call them they will not care about whether you are working or not, they just want payment. If they apply for a CCJ, you can make a token payment offer with your budget to prove your circumstances, but they wont care about that at this stage

leroy1985

ok thx for all youre great advice i appreciate it very uch, i remeber the names of most if not all payday loans but is it ok if i only know the original creditor, im sure wonga and quickquid have passed the debt on ?

so my last question would be will i be ok to just put wonga and quickquid even if theyve passed it on to someone else ?

also bankruptcy cost even more so there no chance on that, im sure i read you have to pay 480 pounds to go bankrupt

lilpunkkitty

leroy1985 wrote: »

so my first step to getting a dro would be to get a credit check ? then contact an adivisor ? take it its not worth doing till ive got the 95 quid ? i heard you can pay in installments but cant get it till it paid, but would it stop them taking court action even if ive only made a small payment towards it ? like as in im in the process type thing ?

Hi Leroy, I too am going for a DRO -scaryy!! pooping lego bricks

So I spoke to stepchange who sent me an action plan - they have been so helpful, the first thing you ant to do, is get a credit check ( stepchange recommended using Noddle as it is free) just so you have an idea of what you owe who and also you need to get your account reference numbers etc for them, then according to the plan they sent me - you don't need to pay the £90 until your paperwork has been looked at, so you get some time and you can pay in full or installments , but obv your dro won't start until you've paid the £90, with regards to being contacted by the debtors I would just send them a letter etc explaining your going through the process of dro? ( not sure if this is the right thing to do but I kinda guess this)??

fatbelly

leroy1985 wrote: »

ok thx for all youre great advice i appreciate it very uch, i remeber the names of most if not all payday loans but is it ok if i only know the original creditor, im sure wonga and quickquid have passed the debt on ?

so my last question would be will i be ok to just put wonga and quickquid even if theyve passed it on to someone else ?

also bankruptcy cost even more so there no chance on that, im sure i read you have to pay 480 pounds to go bankrupt

You should include all your debts, as accurately as you can, but the DRO Unit understand this is sometimes difficult.

This is an extract from a recent newsletter:

Once a DRO has been made, no new liability can be added to the Order. However, we may accept amendments to a debt after the Order has been approved, if:

• the creditor details, including name, address and debt reference, require updating.
• the debt amount needs to be decreased, in which case we require written notification from the intermediary or the debtor, or increased, in which case we need written notification from the intermediary confirming that the original details were entered in error by the intermediary. Revised notifications will then be sent to the debtor and the specific creditor involved. !As stated in the Intermediary Guidance Notes, should the increase to a liability bring the total debt to over £15,000 then the debtor would be in breach of the rules and would face revocation.
  
• the debtor knows they have a debt but are not certain who the creditor is, or even the exact sum owed, we allow for an entry in the DRO application which provides a name (even if it is a guess). The intermediary should type a “1” or other character in the address field and input an approximate sum for the debt. If, during the moratorium period, the full details come to light, we can update the details and send a DRO notification to this creditor and a revised notification to the debtor.
• the debt was mistakenly entered on the application as excluded. As the debt was included on the application but, as a result of the intermediary’s error, was marked as excluded, the debt will be entered in the case details as a qualifying debt and the usual notifications sent out accordingly

.

Bankruptcy, which is a catch-all for your debts, costs £525 plus £180 court fee