How long to set up a DRO?

johnjs88

https://forums.moneysavingexpert.com/discussion/6307212/how-long-to-set-up-a-dro

The longest part of the application for me was the document uploading and verification by Money Wellness, took about a week to get that done.

Once I had the telephone appointment with the intermediary, the application was submitted and my approval email was received 2 days later.

At the point of posting this I have 5 days left on my Moratorium period.. It feels like the year has gone by so fast.

ManyWays

If you already have a DMP, it is usually simpler as most of your debts are (I hope!) in that DMP. There is no DRO fee now, so having to save up for that is not needed.

the main problems come when you are unsure of your debts that do not show on your credit records, such as council tax arrears, benefit overpayments and parking tickets. You can help speed up getting a DRO if you collect any evidence about these now.

Also who is your bank? You may need to switch banks, in this case a "speedy DRO" which results in you finding your bank account has been closed is not actually in your interest.

If you have a complete list of your debts, do not need to change banks, and there is nothing unusual about your case, it can be possible to get a DRO in a few weeks