DRO and Money in childrens bank accounts

Legacy_user

Hi,

This is on behalf of another family member. They have applied for a DRO and are waiting on a reply, however my family member has some cash (few £k) in a bank account (savings) but that is on their childrens name although the family member is the legal guardian, would this effect a DRO, can they say take money from that account?

Thanks

sourcrates

Hi,

You’ve answered your own question.

Assets can’t be seized in a DRO, it’s different to bankruptcy.

You don’t make payments in a DRO, at all, debts are frozen and written off at the end of the monotorium period.
You are allowed assets up to £1000 in a DRO, but if the bank account is not in the debtors name, then it’s of no importance, and can be disregarded for DRO purposes.