student + zero contract job + renting

ayupmeduck

Hello

I am struggling with my debts and really thinking of going down the DRO route. My main worry is as I privately rent, I'd find it hard to secure another property within 6 years (I hope to stay here as long as possible).

Also I am a full time student and have a zero contract bank role within a local NHS trust. Am I right in thinking that when talking about income on a DRO application I would just include my student finance? What happens with any income from my NHS job?

National_Debtline

Hi there,


When doing a budget you should include all of your income, even the irregular income. So, you should take an average of your earnings from the NHS and then go through your expenses to see if you qualify for a DRO. One of the free debt charities can go through this with you to make sure it is correct.


In order for a DRO to complete successfully you need to meet the rules for the full 12 months. If at any time during the moratorium period your surplus exceeds £50 you would need to inform the Insolvency Service. They will then look at the situation and make a decision about whether to revoke the DRO or allow it to continue.


Unfortunately, a DRO is very damaging to your credit file and could affect your current tenancy or ability to secure another private tenancy. You should check your agreement for an insolvency clause to see if your current tenancy is at risk in a DRO.


Laura
@natdebtline