DRO, what's next?

Limaspoon0204

So I scanned and emailed everything to Stepchange early yesterday morning and spoke to an advisor on the phone who helped me with my budget and talked me through my options which were just the DRO. What's next though? How long until I need to do anything else?
I've got my new basic bank account with Co-op, I've moved over some payments and direct debits, I'm not sure whether I should carry on paying debts for now, I haven't missed a payment yet and my credit card payment is due in five days, it's the last of my debt payments this month.
I'm so anxious about this waiting time, I just want an idea of what will happen from now to it going through. 

sourcrates

You haven’t missed a payment yet ???

Most people entering a DRO have long since defaulted on there debts, and haven’t paid for months.
 I’d stop all payments now if I were you, it’s just wasted money.
Stepchange will send you the DRO proposal in the post, you sign and return it, you’ll then get the payment letter with a barcode on it, you pay your £90, give your up to date balances to Stepchange, and they then submit your application to the insolvency service.
That’s it, job done.
No need to be anxious, your not even on the radar yet, debt collection takes months, years even, your worrying for no reason.

Limaspoon0204

I definitely overthink everything, I am a worrier, I have gone without everything for the last year to keep up repayments but I finally faced up to it and I'm looking forward to this all being sorted. Do you think it is likely to be completed in February? 

sourcrates

Well, i`m unsure of the current timescale regarding DRO`s, in 2017 mine took 48 hrs, i think its more like a couple of weeks nowadays.

Fatbelly will be able to give you a more accurate account, if he picks this up.

Just try and chill out, and don`t overthink things, let things take their natuaral course, you have nothing to worry about.

Limaspoon0204

I got an email from stepchange asking for me to call them before they proceed, not sure what about, I'm assuming it's to do with my budget or bank statements. 

Limaspoon0204

They found another debt on my credit check with Yorkshire water but I have no idea why, I've never missed a bill. 

fatbelly

I can't comment on the stepchange waiting time but once they press the button it should be two working days, still the same.

JonVarnas

Limaspoon0204 said:

They found another debt on my credit check with Yorkshire water but I have no idea why, I've never missed a bill. 

Are you able to access your credit report's to see what's actually on there? You can check all three agencies using Clearscore (Equifax), Credit Karma (Transunion) and MSE Credit Club (Experian).

Limaspoon0204

JonVarnas said:

Limaspoon0204 said:

They found another debt on my credit check with Yorkshire water but I have no idea why, I've never missed a bill. 

Are you able to access your credit report's to see what's actually on there? You can check all three agencies using Clearscore (Equifax), Credit Karma (Transunion) and MSE Credit Club (Experian).

I think it's sorted, though I will still look, I know I'll need to check these in the future.