DRO Questions

sourcrates

Losttheplot123 said:

Hi,
so am awaiting my barcode and drafted DRO at the moment. Just wondering if once it’s sent the OR will ask for bank statements etc? I don’t have a years worth as do it all online.....just wondering if I need to go and obtain them all in preparation? Many thanks 

You are not going Bankrupt, therefore you do not deal with an Official Receiver, you deal with the Insolvency Service.
They will have no interest in your Bank Statements, if step-change did not request them at the beginning of the process, no one will want to see them now.

Once your application is drafted, it will be sent to you for your signature, you then pay your £90, and your application will be submitted, the IS just rubber stamp the paperwork, and as long as the intermediary has done their job, that as they say, is that.

Losttheplot123

Wonderful thank you! Saved me worrying any further. I’m slowly relaxing, and feel like I’m so near the end! Thanks again 

reggierose69

Hi again so just would be grateful for a rough breakdown of the whole procedure from contacting stepchange just so as I have a good idea of what to expect with hopefully no nasty surprises along the way.
this is the first month that no credit card bills or Paypal will be paid, as there is now no means of making payment, so nerves are jangling a bit 
thanks in advance for any info 

1977dave

reggierose69 said:

Hi again so just would be grateful for a rough breakdown of the whole procedure from contacting stepchange just so as I have a good idea of what to expect with hopefully no nasty surprises along the way.
this is the first month that no credit card bills or Paypal will be paid, as there is now no means of making payment, so nerves are jangling a bit 
thanks in advance for any info 

Speaking from my experience, I paid the £90, rang Stepchange with up to date balances, they submitted the DRO, it appeared on the register a few days later, and got a letter from the IS confirming the DRO
When each of my creditors sent me a letter, I called them advising I was in a DRO, they took the DRO number, some looked on the Insolvency register themselves, they put the accounts on hold for 30 days.

I then got further letters from creditors informing me they've received confirmation from the IS that i've got a DRO and that they'll default my account and won't chase payment.

After that it's just waiting for the 12 months to be up and then starts the credit file clean up.
I've checked my credit file and the accounts that have defaulted, the default date is the date my DRO was granted, which is how it should be, it should be on or before the date of the DRO

Hope this helps

reggierose69

Hi thanks for that very helpful.
sorry to be a pain but when you first contacted stepchange what do they ask is it a long awkward phone call explaining your debt situation, I know it’s something none of us are proud of but sometimes just circumstances are out of our control 
thanks again it’s just nice to be forewarned 

TRX808

Hi Everyone, 
Just a question: I have received letter of "Default Notice" today from Argos (which I was not surprised about to be honest)
In the notice it says "further actions we might take against you" and there is a list of things they might do, Terminate agreement (fair enough), ask full payment, recover goods or get debt collection agency to recover debt 

I was just wondering if this is normal and if I should expect similar "Default notices" from all the other creditors and is it important to keep a copy of this notices or I can just shred them and forget about it. 

Thank you and have a great week ahead. 

1977dave

TRX808 said:

Hi Everyone, 
Just a question: I have received letter of "Default Notice" today from Argos (which I was not surprised about to be honest)
In the notice it says "further actions we might take against you" and there is a list of things they might do, Terminate agreement (fair enough), ask full payment, recover goods or get debt collection agency to recover debt 

I was just wondering if this is normal and if I should expect similar "Default notices" from all the other creditors and is it important to keep a copy of this notices or I can just shred them and forget about it. 

Thank you and have a great week ahead. 

I've had those letters from most of my creditors, I called each one just to be on the safe side and each creditor advised they have to send it as they've been informed of the DRO by the Insolvency service and to ignore the letter but keep it safe, so that's what I've done, as per the DRO all the accounts under the DRO will change to a default status, so this is the creditors letting you know

1977dave

reggierose69 said:

Hi thanks for that very helpful.
sorry to be a pain but when you first contacted stepchange what do they ask is it a long awkward phone call explaining your debt situation, I know it’s something none of us are proud of but sometimes just circumstances are out of our control 
thanks again it’s just nice to be forewarned 

It wasn't awkward at all for me, I was honest about my situation, Stepchange have heard it all before and they don't judge. I explained in my circumstances, I broke my back twice last year, lost my job, was able to manage for a few months but then came to the point I couldn't pay my debts being on Universal credit, everyone I spoke to at Stepchange have been very helpful, they really listen and show care

They just ask about your circumstances and how you've arrived at your current situation and take it from there

reggierose69

Thank you so much that’s really helpful. As for me I was working and living in London but have had to give up work and move to Wales to become my dads Carer he is 83 with dementia, so a complete change in circumstances and unplanned, so am now on universal credit and have little to no spare funds to pay debts. 

Life swings in strange ways and I know I’m struggling at the minute but I also know there’s a lot more people worse off than me.
thank you again 

mwarby

1977dave said:

TRX808 said:

Hi Everyone, 
Just a question: I have received letter of "Default Notice" today from Argos (which I was not surprised about to be honest)
In the notice it says "further actions we might take against you" and there is a list of things they might do, Terminate agreement (fair enough), ask full payment, recover goods or get debt collection agency to recover debt 

I was just wondering if this is normal and if I should expect similar "Default notices" from all the other creditors and is it important to keep a copy of this notices or I can just shred them and forget about it. 

Thank you and have a great week ahead. 

I've had those letters from most of my creditors, I called each one just to be on the safe side and each creditor advised they have to send it as they've been informed of the DRO by the Insolvency service and to ignore the letter but keep it safe, so that's what I've done, as per the DRO all the accounts under the DRO will change to a default status, so this is the creditors letting you know

Just to warn, it's quite likely you'll get letters over next few months and years about your debts being sold on, they aren't anything to worry about. Some you may need to forward on DRO details as they can get lost when debts are sold