We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
We're aware that dates on the Forum are not currently showing correctly. Please bear with us while we get this fixed, and see Site feedback for updates.
Would a DRO be suitable for me?

Louise1984
Posts: 5 Forumite
in IVA & DRO
Hi everyone, please bare with me if I do things incorrectly, I'm new here and this is my first post.
I have 15 unsecured debts, payday loans, overdraft, catalogs etc... they total about £9k.
I have no income at all currently, I have been suffering with my mental health for the last 4 years and had to take out loans etc to get me through the month. My husband works and we get some ctc and child benefit, also child maintenance from my son's father. All this income goes into my husbands bank and pays bills etc. He does put a little away each month for savings, would they expect him to give that to me? Also he has a car which we both drive, but it's his car, worth £2500 approx. Would they expect him to sell it for a cheaper one?
We are in a rented house, will our landlord be informed?
Basically I can't handle the debts anymore, I have nothing to offer them and I'm really really struggling to see through any of this. I don't know what to do, I need help.
I have 15 unsecured debts, payday loans, overdraft, catalogs etc... they total about £9k.
I have no income at all currently, I have been suffering with my mental health for the last 4 years and had to take out loans etc to get me through the month. My husband works and we get some ctc and child benefit, also child maintenance from my son's father. All this income goes into my husbands bank and pays bills etc. He does put a little away each month for savings, would they expect him to give that to me? Also he has a car which we both drive, but it's his car, worth £2500 approx. Would they expect him to sell it for a cheaper one?
We are in a rented house, will our landlord be informed?
Basically I can't handle the debts anymore, I have nothing to offer them and I'm really really struggling to see through any of this. I don't know what to do, I need help.
0
Comments
-
Household Information
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 1634
Benefits................................ 1061
Other income............................ 150
Total monthly income.................... 2845
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 1200
Management charge (leasehold property).. 0
Council tax............................. 98
Electricity............................. 104
Gas..................................... 0
Oil..................................... 0
Water rates............................. 45
Telephone (land line)................... 0
Mobile phone............................ 40
TV Licence.............................. 15
Satellite/Cable TV...................... 30
Internet Services....................... 27
Groceries etc. ......................... 450
Clothing................................ 20
Petrol/diesel........................... 200
Road tax................................ 10
Car Insurance........................... 40
Car maintenance (including MOT)......... 25
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 20
Medical (prescriptions, dentist etc).... 8.60
Pet insurance/vet bills................. 0
Buildings insurance.....................
Contents insurance...................... 10
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 50
Haircuts................................ 30
Entertainment........................... 50
Holiday................................. 0
Emergency fund.......................... 30
Total monthly expenses.................. 2502.60
Assets
Cash.................................... 100
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 2500
Other assets............................ 0
Total Assets............................ 2600
Monthly Budget Summary
Total monthly income.................... 2845
Expenses (including HP & secured debts). 2502
Available for debt repayments........... 343
Monthly UNsecured debt repayments.......0
Amount left after debt repayments....... 343
So we have some money left over, but its my husbands? So would I not get accepted due to his money?0 -
Did you input your benefits correctly? Surely CTC wouldn!!!8217;t give you £800 a month+ on top of a household net income of £1600? I know CB is £137 for two children.0
-
-
I&E seems reasonable. are the benefits in your name? that would be classed as YOUR income if it is.
from what you have said, there should be no issues with DRO in your name.
You need to check the terms on your tenancy and what it states with insolvency. Based on the amount, i assume it is private landlord? if so, and you have no rent arrears, they will not inform your landlord, however your name will be on the Insolvency Register, which anyone can check. Council or Social tenant - no issues so long as you don't have a court order for any arrears
(whilst under a joint IVA, we moved twice and signed two tenancies (different times !) with no issues)
There is no issues with the car so long a registered and bought in your husbands name
your husband wont be liable for any debt in your name, unless it is joint debt - (example arrears on Council Tax) - you would become non liable but your husband fully liable
use Payplan or CAB or StepChange when you decide to start your application - it will still cost £95 for it, however a charitable organisation like these will not charge anything beyond this
good luck and hope all goes well0 -
use Payplan or CAB or StepChange when you decide to start your application - it will still cost £95 for it, however a charitable organisation like these will not charge anything beyond this
good luck and hope all goes well
£90. Only Charities like the above are registered as 'Competent Authorities'. There should be no extra charges for a DRO - ever.0 -
use Payplan or CAB or StepChange when you decide to start your application - it will still cost £95 for it, however a charitable organisation like these will not charge anything beyond this
good luck and hope all goes well
The fee for a debt relief order is £90 and it is fixed by parliament.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 348.3K Banking & Borrowing
- 252.1K Reduce Debt & Boost Income
- 452.4K Spending & Discounts
- 240.9K Work, Benefits & Business
- 617.2K Mortgages, Homes & Bills
- 175.7K Life & Family
- 254.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 15.1K Coronavirus Support Boards