DRO questions...

maxmycardagain

1. If someone files for a DRO and debts on that date are (say) £19,999 and they qualify but charges are added to the debts prior to acceptance do they lose the chance of a DRO?


2. If the debts are (say) £20200 and a 3rd party pays to reduce the total under the £20k limit would the IS kick off?


3. If there are no major change in circumstances for the year are debts automatically wiped, or can the debts come back after the DRO applicant?

debt_doctor

maxmycardagain wrote: »

1. If someone files for a DRO and debts on that date are (say) £19,999 and they qualify but charges are added to the debts prior to acceptance do they lose the chance of a DRO? Yes they do, but typically DROs only take 48 hours to be approved.


2. If the debts are (say) £20200 and a 3rd party pays to reduce the total under the £20k limit would the IS kick off? A third party can choose to do what they like with their money, it's fine.


3. If there are no major change in circumstances for the year are debts automatically wiped, or can the debts come back after the DRO applicant?

For debts being wiped after the year think exactly the same as bankruptcy. Gone.

Hope that helps Mr Cardigan!

DD