unusual question about a DRO

stu12345_2

I'm dealing with Christians against poverty in the hope they apply for a DRO for wife and I shortly, But I was asked are we expecting any lump sum in next 12 months, that will take us above £2000 each, we said no, that's true.

but I read in a popular newspaper yesterday that this potential miss selling of car salesman hp commission is soon to be resolved in September in courts and if you haven't made your claim do it before September as there may be a time bar clause.
the newspaper then included a link to a MSE Template letter 
when I look back, myself and wife have had numerous hp car agreements before 2021. and not sure if we should put a claim in if the DRO gets approved , especially if the courts put a time bar clause for new claims soon 

sammyjammy

The September date is just to find out if this is going to go forward or not, contact your agreement lenders now and they will let you know if it may apply to you or not, I certainly can't see payouts happening immediately from September so try not to worry about it,  a year goes by very quickly.

Good luck.

stu12345_2

yes , but if it shows we were misssold, and potentially due compensation, could we postpone any compensation till after the 12 months DRO has completed or get the award but not cash it in immediately 

what about this time barring clause that may happen, surely thousands are waiting to only  apply when they find out about the court ruling

how far back before 2021 can we claim, we have had car finance since 2013

I estimate we borrowed £20,000 in car finance each over a period of 8 yrs 2013 to 2021

we would not like £2000 in compensation revoking £22500 of DRO debts 

here is the link to the article 
https://www.dailyrecord.co.uk/lifestyle/money/new-martin-lewis-1100-car-33158034

sourcrates

Pay-outs for things of this nature inevitably take time, so if you are due anything, it will likely take more than a year to finalise, and even longer before you actually see any cash.

Its good you are being pro-active here stu, but please stop overthinking this, let the dice roll and take your chances, if it happens, then deal with it, otherwise you will never get anywhere with this DRO.

stu12345_2

thanks sourcrates, if I hadn't read the article my mind wouldn't have engaged in gear lol.
let's see how the dro plan goes, I've got final meeting this Tuesday where we list all our creditors facts and figures 
but I guess there maybe others in debt out there that could potentially reap some money back if they win this case

DisabledDan

"Christians against poverty in the hope they apply for a DRO for wife and I shortly"

My understanding is that it is you who need to apply for a DRO, Bankruptcy would be another matter as a creditor can go for it.

Brie

DisabledDan said:

"Christians against poverty in the hope they apply for a DRO for wife and I shortly"

My understanding is that it is you who need to apply for a DRO, Bankruptcy would be another matter as a creditor can go for it.

As I understand it individuals cannot apply for a DRO on their own behalf.  They have to go through a debt advice agency of some sort.  

stu12345_2

yes Christians against poverty are an approved dro provider, myself and wife are individually applying for one each.

they look at our debts, expenses and income 
once they have our details, they approve the application, they send the facts and figures back to us, we check them, sign it, then they complete the application for us
and submit for us to the insolvency service
check out their website and all the solutions they do

fatbelly

DisabledDan said:

"Christians against poverty in the hope they apply for a DRO for wife and I shortly"

My understanding is that it is you who need to apply for a DRO, Bankruptcy would be another matter as a creditor can go for it.

DRO applications have to be made through an Approved Intermediary

Each Approved Intermediary is connected to a Competent Authority. Most of these are charities but not all

stu12345_2

little update, 4 of our cars with Stelantis finance had dealer commission, they are looking for 3 other cars details cos we don't have the agreement numbers,
these car finance deals were between 2013 and 2021( we changed cars every 2.5 years on ave with stellantis ( Peugeot finance), a costly excess commission sum., owed £thousands back.
have to wait till 25th September now for court decision.