Newbie help DRO

loopyloo2022

Good afternoon
i am in the final process of submitting my DRO.I am in the minus figures each month with my income and expenditure.
I claim universal credit and work full time.
In April next year if the benefits rise I should get maximum £30 more.
also  if I get a pay rise in the year I have the DRO  it will probably be maximum £15 per month.
my questions are ..I am assuming I will need to tell them about this ?even though it will only put me at +£10 maybe surplus each month.
who do I tell ?Payplan who set up my DRO ?
also when I do this will they need to see all my bank statements income expenditure again or literally just take the updated incomes?

does anyone check anything else at all for the year of my DRO?

thanks so much in advance this is just all a minefield at the mo!

MalMonroe

Hi, when I applied for a DRO some years ago, StepChange helped me to set it up but Payplan is a similar organisation. Yes, you could definitely ask your Payplan adviser about any aspect of applying for a DRO.

This is what StepChange says about the moratorium period (first twelve months) -

https://www.stepchange.org/debt-info/dro-moratorium-period.aspx

From what you say about your disposable income, I don't think you'd have to report it but it's always best to check with Payplan, that is what they're there for. 

Once I'd been granted a DRO, nobody checked anything at all about my circumstances during the first year, although you're supposed to report any significant changes, of course. I didn't have any.

I know what you mean about it being a minefield but the people at Payplan will help and you can do this. 

Having a DRO really helped me to turn my life around and learn financial responsibility. It's not easy but it's worth it in the end, I think anyway.  Good luck with yours. 

sourcrates

You only need inform the insolvency service if your disposable income rises significantly above the monthly allowance of £75, you don`t need to tell them of any income increase if it`s below the threshold.

And of course, with increased income also comes increased expenditure, so the two usually blank each other out anyway, so there won`t be anything to tell.

Once your DRO is approved, that`s the last you will hear of it, there are no further checks at all.

£90 doesn't buy much of the insolvency service`s time.

loopyloo2022

Thank you so much both of you for your replies.
that helps a lot.
I was just worried there would be a way they could find out if I didn’t report it but as you say it will be well under the £75 
I really appreciate your help