DRO granted will it affect future renting?

Skyblueboston

18th July was a good day when our DRO was granted we tried to hard to pay our debts off and token payment plans but redundancy and added interest just made it impossible!

Any way I'm trying to feel brave and happy about our situation but I just feel a bit sick because we have been renting with the same letting management company for 13 years, I just wonder if they ever need to know about the DRO or will somehow find out about it? We have never missed our rent ever!
So am I right in thinking that after 15 months it's gone from the public record?
Have you got a DRO and did it stop you renting?

Thanks :j

sourcrates

Hi,


Plenty of people who go insolvent, also rent, no one, barely no one, can afford a mortgage these days, so they have no choice.

If your with the same letting company, do they do regular credit checks ?
There are two checks landlords usually use, one is a cheap basic person check, the other a full credit check.

So in the latter case your DRO would show up, and it stays on your credit file 6 years, and the insolvency register for 12 months, don`t know where you got 15 months from.

Most companies are ok with this, you may have to pay a bigger deposit next time.

Craig1981

DRO will stay as said for 6 years on your file unfortunately. on the register for 12...
have you been in the same house for 13 years as well? if so, wouldn't think twice about it
If not, again, you do not need to inform them - only when new application is made and they want to do a credit check, then declare it

When my wife and i were 3 years into an IVA, we were forced to move. had to go through a letting agent. panicking about the IVA, we lined up guarantors and everything, but the checks came back fine. like you, rent always paid and so all priority debts. they mainly do employment checks, rent references and affordability checks.

so don't let this get to you and let it hang over you. just make sure you have learnt from your mistakes (we did!)

debt_doctor

Hi,

You are correct about the length of time the DRO will be on the Insolvency Register - it is 15 months. If your DRO was ever revoked this would be on the register for 3 months after the revoke date. It is a similar situation with bankruptcies.

I think your 13 year payment record for your rent will speak loudly for you. Generally a landlord just wants someone who looks after the place and pays the rent - this seems to be a description of you.

No guarantees sadly, but worrying wont make things better.

Concentrate on the feeling of being debt free and a financial fresh start.

DD.