DRO: when will my credit report change?

leorory

Good evening all

I am writing to ask about debt relief orders (DRO).

My DRO application was accepted 6 months ago and is showing on my credit report with £0.

All of my included debts are still showing on my credit report.

I just wanted to check, is this normal?

Currently I am in my moratorium year, will the included debts disappear from my credit report once the 12 months is complete?

Will the DRO status change on my credit report at that time (i.e. show a balance commensurate with my included debts, like DRO £ [included debts total] )

Has anybody had a DRO previously and know what to expect in terms of credit report changes?

Best wishes

Leorory 

sourcrates

Perfectly normal.

Your accounts will drop off your credit file on the sixth anniversary of either the default date, or the date of your DRO, so six years in total.

Once your 12 months are up, all included accounts should show as either partially settled/satisfied, and all should show a zero balance.

The DRO status will change to "Discharged" and will stay another five years.

Creditors are not always clued up about credit file reporting with a DRO, so you may have  to remind them if they don`t update your file after the initial 12 months.

leorory

Thank you Sourcrates

 That is very reassuring

 Best wishes

 Leorory