Do I have to declare refund from creditor? (DRO)

ilomilo

Hi. I was approved for a DRO last September. I just received a letter from one of my creditors saying I’m due a refund of £85 as compensation for them giving me a credit limit rise when they shouldn’t have.

Do I have to inform the insolvency service of this refund, and should I even contact the bank regarding the payment? Thanks

fatbelly

Yes you should but the DRO Team will not be bothered by it. You can go into a DRO with 'assets' of up to £1000 and there are more generous limits once you are in your DRO. So it won't be an issue. Claim your compensation.