Inheritance Five Years after DRO Granted

edited 30 November -1 at 1:00AM in IVA & DRO
4 replies 1.4K views
Lucy5781Lucy5781 Forumite
685 Posts
Part of the Furniture 500 Posts Name Dropper Combo Breaker
✭✭
edited 30 November -1 at 1:00AM in IVA & DRO
Hi, not been in here for a while...

My DRO was granted September 2013 and completed without issue a year later.

Now, almost five years later, my mum has passed away and once the small town solicitors she appointed as executors pull their fingers out, I will inherit half the estate (spilt 50/50 with my brother). Put it this way, it's already been four months and the house still isn't even on the market despite us clearing it within six weeks of her passing.

So at this rate we may be closer to the six year post DRO point by the time it's all resolved, but I sort of wanted to double check that this won't be something that will be claimed of me? I.e. the DRO was completed and all debts discharged in September 2014.

Many thanks
Lucy
Credit Card & Overdraft Debts Jan 2012: £16,000+ :eek: [STRIKE] Credit Card & Overdraft Debts Sep 2013: £13,023 [/STRIKE]
DRO Completed: 30/09/2014 :T
30/09/19 - Details now dropped off debt register. :o

My Diary - http://forums.moneysavingexpert.com/showthread.php?t=4202761

Replies

  • cheesedoffwithdebtcheesedoffwithdebt Forumite
    331 Posts
    Part of the Furniture Combo Breaker
    ✭✭
    I'm not sure about the rules on a dro but just to reassure you I'm also waiting on a similar inheritance, solicitors are just unbelievably slow but local to where mum lived. Yes at this rate you'll be past six years!
    I was in an Iva and as this arose afterwards then there is no claim from creditors. It's if something is an asset during your dro or Iva I think where it can be claimed back.
    now debt free and determined to maintain good spending habits and build savings
  • National_DebtlineNational_Debtline Organisation Representatives - Private Messages may not be monitored
    8K Posts
    ✭✭✭✭
    Hi Lucy5781,


    I appreciate this must be a difficult time (and I would like to offer my condolences for your mum).


    With regard to the DRO, the inheritance wouldn't be an issue at all because your DRO has completed. If your DRO had not started yet or you were in your moratorium then the inheritance would've been something you needed to declare but as the DRO has completed, you don't need to worry it.


    Laura
    @natdebtline
    We work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps
  • Lucy5781Lucy5781 Forumite
    685 Posts
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    ✭✭
    I'm not sure about the rules on a dro but just to reassure you I'm also waiting on a similar inheritance, solicitors are just unbelievably slow but local to where mum lived. Yes at this rate you'll be past six years!
    I was in an Iva and as this arose afterwards then there is no claim from creditors. It's if something is an asset during your dro or Iva I think where it can be claimed back.

    Same here, mum and solicitors over 70 miles from where my brother and I live. Irony is, my father in law is a partner in a larger accountants based in central London and my brother's mother in law has been a legal secretary for a probate solicitors for over 30 years, we'd have had no trouble self administering the estate but she wrote the will in 2013 and was too ill to make changes when we asked her to make us executors.

    That said, my brother is trying to sell and move house and mum passed away two months before I have birth to my second child so we're both rather busy.
    Credit Card & Overdraft Debts Jan 2012: £16,000+ :eek: [STRIKE] Credit Card & Overdraft Debts Sep 2013: £13,023 [/STRIKE]
    DRO Completed: 30/09/2014 :T
    30/09/19 - Details now dropped off debt register. :o

    My Diary - http://forums.moneysavingexpert.com/showthread.php?t=4202761
  • fatbellyfatbelly Forumite
    16.6K Posts
    Part of the Furniture 10,000 Posts Name Dropper Cashback Cashier
    ✭✭✭✭✭
    Lucy5781 wrote: »
    . the DRO was completed and all debts discharged in September 2014.

    That is correct.

    Sorry about your mum.
This discussion has been closed.
Latest MSE News and Guides

A guide to council tax bands

Lower your band & save £1,000s

MSE Guides

Cinema MoneySaving tips & tricks

Including year's 2for1 movies for £1

MSE Deals