DRO with one creditor, or offer F&F settlement?

flamingo747

I have just one debt, about £6.5k on a credit card. I am a SAHM/carer for my autistic 11 year old, my husband works part time. Our household income is low, and predominantly carers allowance, DLA, and tax creds, so we don't have much surplus income. 

My payments have been in default since March 2020, after 5 missed payments and when I spoke to them I said I was looking at a DRO with stepchange, which I just never got around to. 

I think a DRO is about £100? But would it make more sense to just offer that money to the credit card company (aqua) as a full and final settlement? We're not behind in any other bills, we have a joint bank account, and hubby's credit is reasonable because he's been working to build it.

Thank you

fatbelly

The dro fee is £90. I don't think they will accept that in F&F.

Do you need to do anything? You're 3.5 years into this becoming statute barred, and as things stand, this disappears from your credit file in 2026.

I would ignore everything except a statutory 30-day pre-action letter.

Save thoughts of a dro for when you really need relief

sourcrates

I agree with the above, you could also ask them to write off the debt due to your circumstances, if they become annoying, at the moment it looks as though all is quiet on the collection front, if that changes post back for advice, but otherwise it will go statute barred in 2.5 years time, no point calling the fire brigade unless there`s a fire.