DRO Advice

chickenman33

Hi,

I'm currently in debt for £19,500. I have been researching DRO's and have a few questions I was hoping I could find the answers to here. I have never missed a payment on any of my debts however I feel that I am at a stage now where I am having to use available credit to meet my minimum payments.

1. Will I be granted a DRO if I've never missed any payments but meet all the criteria? My disposable income after household bills in massively in the negative.

2. I have a car that has my name on the log book however my parents bought this car for me and my partner and my partner has a written contract with my father (in her name only) that she will pay my father in monthly installments. The car is worth around £4500-£5000. Where would this stand as obviously although my name is on the log book there is an outstanding finance to my father owed by my partner for £4200. My partner is the only one who uses the car and she uses it to travel to work and do the shopping etc. This is the only car in our household.

3. What can I expect after my application is submitted? Will anybody come to my house to check my assets etc?


Thanks for your help.

fatbelly

1. Yes

2. The registered keeper is not necessarily the owner. If your wife owns it, it's not your asset.

3. No-one will come to your house. Many different forms of checks could be done but the only routine ones are an Experian check and a check of the insolvency records.

sourcrates

Double check your debts are below the 20k limit.

The whole DRO process relies on the information you give the insolvency service.

It would be an impossible task to perform those checks you mention for every application, they simply do not have the staff to perform such checks, one reason debt relief orders were introduced was to take the pressure off the bankruptcy courts for lesser debt amounts.