Minus Figure on DRO income/expenditure

dtjones888

Hi all,

I have two questions here, I've just completed an online income and expenditure form with Business Debt Line. After all of my expenditure I'm actually left with a minus figure. Will this mean I don't qualify for a DRO? 

Also, I am a self employed sole trader but all of my debts are personal and not business related. Will stepchange be able to help me or will I need to go to BDL? 

Thanks in advance 

Sonic101

Hi there

I don’t know whether you’re already dealing with BDL, but I would have thought they’d be able to advise who can help you? 

If your debts are personal I would have thought StepChange would be able to help - and if not, or if a DRO wouldn’t be possible, they should be able to advise you of other possible debt solutions. I would give them a call - in can sometimes take a while to get through as they’re very busy but I’ve generally found them to be helpful and supportive, as habit others here. 

With regards to the budget deficit, speaking from personal experience, an intermediary will put forward a DRO application  with a small deficit, but they will warn you that you’ll need to be aware of deficit and be careful with your spending.  

Anyway give StepChange a call - it can’t hurt. 

fatbelly

Take advice from BDL but you need an intermediary to do a DRO and they don't do many. Stepchange and CAB are the main  providers. As I've already seen a negative response from SC, maybe also try Citizens Advice