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Dro advise
leoniestacy
Posts: 164 Forumite
Hi all.
Bit of a back story I owe all together 23k this is from a natwest loan and credit cards.
Over the last year I've been with stepchange paying £60 a month to pay off these debits, as a payment plan with the company's how i owe money to.
if I carry on paying this my debts will be cleared in 2055.
However due to the cost of living etc, I can't afford £60 any more and I only have anout £15 a month spare, would it just be better to apply for a DRO as I really don't know where to go from here?
Bit of a back story I owe all together 23k this is from a natwest loan and credit cards.
Over the last year I've been with stepchange paying £60 a month to pay off these debits, as a payment plan with the company's how i owe money to.
if I carry on paying this my debts will be cleared in 2055.
However due to the cost of living etc, I can't afford £60 any more and I only have anout £15 a month spare, would it just be better to apply for a DRO as I really don't know where to go from here?
£2014 in 2014 challenge v-£30 c-£176.23 £201.23/£2014
cs-£46.51 ms-£40 slp-14.32 sb-£30 TCB -£35 gm-£30 dy-£50
cs-£46.51 ms-£40 slp-14.32 sb-£30 TCB -£35 gm-£30 dy-£50
0
Comments
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First of all contact Stepchange and explain you can't afford to carry on paying £60 and ask them what would be the best way forward.
Whether a DRO would be the way forward depends on a number of things and Stepchange will advise you.If you go down to the woods today you better not go alone.0 -
Hi, just to say that I agree with Grumpelstiltskin, above.
If you dp qualify for a DRO, Stepchange will help you to apply for one and process it for you, too.
Have a look at their website, which gives more information - https://www.stepchange.org/how-we-help/debt-relief-order.aspx
Stepchange helped me with a DRO a few years ago and I found it much better and easier to talk to one of their advisers on the phone. It's always best to contact them if the plan they've arranged isn't working out for you.Please note - taken from the Forum Rules and amended for my own personal use (with thanks) : It is up to you to investigate, check, double-check and check yet again before you make any decisions or take any action based on any information you glean from any of my posts. Although I do carry out careful research before posting and never intend to mislead or supply out-of-date or incorrect information, please do not rely 100% on what you are reading. Verify everything in order to protect yourself as you are responsible for any action you consequently take.0 -
Try and stick to just one thread, it saves confusion that way.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0
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