DRO multiple queries

maxmycardagain

Twubble wrote: »

No payments are made with a DRO (Debt Relief Order). It's not like a bankruptcy.

Surely if at the start of a DRO the applicant is under a certain "excess income" they get no payment to make but if over they do?

or is there NO payment at all with a DRO come what may?

Twubble

maxmycardagain wrote: »

Surely if at the start of a DRO the applicant is under a certain "excess income" they get no payment to make but if over they do?

or is there NO payment at all with a DRO come what may?

No, there are no payments. If you end up having more than the £50 surplus each month, then you need to let them know, and your DRO can be revoked.

maxmycardagain

So owe under £20k and have under £50/month left after living expenses and you may get a DRO/no payments or a year/debts written off after 12 months

Over £20k debts and its BR only, if you have an excess you could get a 3 year IPA

maxmycardagain

Or the final figures might make a DMP an option...


A DMP is an informal arrangement with your creditors to make reduced payments to your unsecured debts. Your creditors are more likely to accept your reduced payment if it is made through a trusted debt charity such as ours.

You make one affordable payment to us each month and we send this to your creditors.
You have our help and support throughout your DMP.
Our service is free. Every penny you send to us goes towards your debts.