DRO process

Kazlou11

Hello all, 

Yesterday I have gone through income & expenditure with payplan. They suggested a DRO I have informed them today that I would like to go ahead. My questions are what happens now? They said someone from the DRO team will contact me. What do they go through? I have just opened a new current account, will they accept my payslips & UC statement?l to show income? Also how long do I wait for this call?

My situation changed dramatically after divorce putting me in this situation I had loans and cards In my name as my ex had bad credit! 

Is it pretty certain once a DRO is suggested that you’ll be accepted? Debt 27k no assets 

Thank you!!!

sourcrates

Hi,

Unsure on the timescales Payplan work too, however a new bank account, with a bank with whom you have no debt hopefully, is a good starting point.

Your debts must be under 30k.

Any car you own must be worth no more than 2k.

You must have £75 or less disposable income left at month end, not inc any debt repayments.

Assets valued at no more than 2k.

If you meet the criteria, then usually your accepted, but you must meet the criteria, most folk fall down on the disposable income requirement.