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DRO LIMIT INCREASE???
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Here's the news we were waiting for
Having taken account of all views expressed, the Government intends to lay legislation in Parliament at the beginning of June, that will increase:
- the value of assets allowed to be owned by the debtor from £1,000 to £2,000 as proposed in the consultation;
- the value of a single motor vehicle that can be disregarded from the total value of assets from £1,000 to £2,000;
- the level of surplus income received by the debtor before payments should be made to creditors from £50 to £75 per month and
- the total debt allowable for a DRO from £20,000 to £30,000 as proposed in the consultation.
These changes will come into force on 29 June, to coincide with the end of the first 60 day Breathing Space period.5 -
Amazing news now how long before I tell my iva to fail it?0
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What is the latest?0
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Is it going to increase or not?0
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danjackson2021 said:Is it going to increase or not?
If you actually read the posts on this page you would see the information.Mortgage started 2020, aiming to clear 31/12/2029.0 -
I did what did I miss?
the above just say it may be coming, did you read anything concrete that I missed?0 -
See here dan -danjackson2021 said:I did what did I miss?
the above just say it may be coming, did you read anything concrete that I missed?
Good news - higher DRO limits from end June 2021! · Debt Camel
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Fatbelly's post on 10 May, edited on the 12th where he listed the key changes and it says comes into force on the 29th.danjackson2021 said:I did what did I miss?
the above just say it may be coming, did you read anything concrete that I missed?Mortgage started 2020, aiming to clear 31/12/2029.0 -
Iva is now in process of terminating... but I had been trying to sort out arrears with council tax and then had a tax credit over payment. I feel defeated so I was planning on including this in dro. Now I've had 2 court summons? What do i do??0
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Ask a debt adviser if you can have formal breathing space - protects you for 60 days against enforcement.
Are the two court summons both council tax?1
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