NOW OPEN. The MSE Forum's energy-themed Ask An Expert event is open for questions. Visit the dedicated board to ask MSE Gary & MSE Andrew about gas & electricity

Gift of £1000 on DRO

in IVA & DRO
4 replies 171 views
ilomiloilomilo Forumite
19 Posts
10 Posts First Anniversary
Forumite
If you were to receive a gift of £1000 while under a DRO will it get revoked? I'm on Universal Credit and no longer receive DHP so this will mostly be used on living costs if received.

Replies

  • edited 26 April 2021 at 6:57PM
    sourcratessourcrates Forumite
    25.6K Posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Forumite
    edited 26 April 2021 at 6:57PM
    You are allowed an assets limit of £1000 cash.

    So, if you were to receive it, it would not be a problem, and you would not have to inform anyone.
    Ex MSE Board Guide.

    More than a third of IVA`s fail....fact.
    Could A Debt Relief Order help you ?
    Never pay for a Debt Management Plan.
    For free debt advice, contact either : Stepchange, National Debtline, CitizensAdviceBureaux.
  • fatbellyfatbelly Forumite
    17.5K Posts
    Part of the Furniture 10,000 Posts Name Dropper Cashback Cashier
    Forumite
    The rules for receiving lump sums while in a DRO are different to when you're applying, and the figures are likely to be revised upwards this year.


    Where a lump sum is received and the value of the debtor’s total property (including the lump sum) does not exceed £1,000 no action will be taken.


    Where a lump sum is received and the value of the debtor’s total property (including the lump sum) is between £1,000 and £1,990 the Official Receiver will consider the circumstances of the case and may not revoke the DRO.


    Where a lump sum is received and the value of the debtor’s total property (including the lump sum) exceeds £1,990 the Official Receiver will consider the circumstances of the case but it is likely the DRO will be revoked.



  • gazzabun84gazzabun84 Forumite
    13 Posts
    10 Posts
    Forumite
    how often will you be looked into with regards to wages ect
  • fatbellyfatbelly Forumite
    17.5K Posts
    Part of the Furniture 10,000 Posts Name Dropper Cashback Cashier
    Forumite
    You're not - you are expected to declare any change of circumstances.

    Of course they can look into anything they want to at any time but in practice there is no routine checking.
Sign In or Register to comment.
Latest MSE News and Guides

Iceland's helping struggling pensioners

It's giving out free £30 food vouchers

MSE News

Who can suggest a top-notch bed?

This Forumite's mattress is in need of a base

MSE Forum

The Forum 'Ask An Expert' event

Ask your energy questions by Wed 5pm

MSE Forum