Help! DRO or f&f offer

facingthefuture

Hiya, I have debts to cc companies and have faced up to the fact I can't pay them, my self emplyed biz has gone down the tubes. I have 2 choices, my brother has offered me some money to offer a F&F setlement or have been to citizens advice who said go for a DRO. I feel awful about accepting brothers help but am so ashamed. I was told that only the bloke in the citizens advice and the guy he will send the paperwork will know about a dro but it can be seen on a public registrar. Will it be published in Stubbs? Also my dad died and I am executor (everything goes to mum) does it mean I wouldn't be able to do her probate?
Any advice welcome. Thank you.

National_Debtline

Hi

Sorry to hear about your dad, it sounds like you’ve been through a tough time. The only place a DRO is publically published is the Individual Insolvency Register.

I don’t know of a reason why you wouldn’t be able to carry out the probate if you did a DRO. HMRC have a Deceased Estate Helpline which should be able to advise on probate matters so it would be worth confirming it with them on 0300 123 1072.

There are summaries of the pros and cons of F&F and DRO here so I think it’s going to be a case of weighing them up based on your own situation and needs for the future:

F+F
www.nationaldebtline.org/EW/information/10%20ways%20to%20clear%20your%20debt/Pages/Options-for-dealing-with-your-debt-offers%20in%20full-and-final-settlement.aspx

DRO
www.nationaldebtline.org/EW/information/10%20ways%20to%20clear%20your%20debt/Pages/Options-for-dealing-with-your-debt-debt%20relief%20order.aspx

James
@natdebtline

[Deleted User]

and remember the amount of debt you can include in a DRO recently went up from 15k to 20k,i helped my MIL thru a DRO and it was very easy and quite painless