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Can a DRO be refused?
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Hi, I’ve completed everything with National Debtline , they’ve now passed it on Citizens Advice. I should get by end of next week. I’m quite nervous as nothing goes my way lol, any reason for the DRO to be refused? How many months bank statements do they want? Do they want statements of all banks? For a while I borrowed money, so across my accounts there’s many transfers in/out. Will they look to see if I spend exactly that on my bank statements as mention on the budget plan? I’m so stressed.
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Very few applications are rejected and the main reason is that the client has already had one in the past 6 years, and tried to keep quiet about it.
So if that applies to you it's just a case of stepping across the hurdles.
Usually 3 months of bank statements
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ALL bank statements should be supplied in my opinion. And as long as the transfers back and forth can be tracked that will be ok.
Another reason for failure would be treating a/some creditors preferentially. So if, for instance, you owe money to banks, utilities, rent and don't pay any of them but do pay back the money you borrowed from dad then that would likely fail.I’m a Forum Ambassador and I support the Forum Team on Debt Free Wannabe, Old Style Money Saving and Pensions 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.
Click on this link for a Statement of Accounts that can be posted on the DebtFree Wannabe board: https://lemonfool.co.uk/financecalculators/soa.php
Check your state pension on: Check your State Pension forecast - GOV.UK
"Never retract, never explain, never apologise; get things done and let them howl.” Nellie McClung
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Brie said:ALL bank statements should be supplied in my opinion. And as long as the transfers back and forth can be tracked that will be ok.
Another reason for failure would be treating a/some creditors preferentially. So if, for instance, you owe money to banks, utilities, rent and don't pay any of them but do pay back the money you borrowed from dad then that would likely fail.0 -
That raises different concerns.
Have you got a new basic bank account into which your income is now being paid? That requires no credit check. And cancelled the DDs on your old account?
And have you got a savings account separate from a bank account? Whatever you've got left after essential spends needs to go there so you've got an emergency fund, as you won't be able to borrow for a few years.
On the friendship front. Do your friends know you will not be allowed to repay them? Certainly not whilst you are on the DRO.If you've have not made a mistake, you've made nothing0 -
koala31 said:Also - I had a problem with one of the loans as they took money from my account even when I emailed them and explained to them im getting debt advice, yet they kept pushing me to complete a budget form etc and said I can’t do that right now as im going through a lot but stated many times I’m doing this with national Debtline. They ignored me and still took the money out of my account. I explained that to the advisor too.
No good telling anyone else, only your bank can help you recover that money.
As a matter of course you should have cancelled the method of payment they use, either the DD or the continuous payment authority on your debt card, again, contact your bank.
Longer term, look at getting a new basic bank account that no one else has any payment details for, and that will be your new, safe account going forward.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 -
sourcrates said:koala31 said:Also - I had a problem with one of the loans as they took money from my account even when I emailed them and explained to them im getting debt advice, yet they kept pushing me to complete a budget form etc and said I can’t do that right now as im going through a lot but stated many times I’m doing this with national Debtline. They ignored me and still took the money out of my account. I explained that to the advisor too.
No good telling anyone else, only your bank can help you recover that money.
As a matter of course you should have cancelled the method of payment they use, either the DD or the continuous payment authority on your debt card, again, contact your bank.
Longer term, look at getting a new basic bank account that no one else has any payment details for, and that will be your new, safe account going forward.0 -
RAS said:That raises different concerns.
Have you got a new basic bank account into which your income is now being paid? That requires no credit check. And cancelled the DDs on your old account?
And have you got a savings account separate from a bank account? Whatever you've got left after essential spends needs to go there so you've got an emergency fund, as you won't be able to borrow for a few years.
On the friendship front. Do your friends know you will not be allowed to repay them? Certainly not whilst you are on the DRO.0 -
koala31 said:sourcrates said:koala31 said:Also - I had a problem with one of the loans as they took money from my account even when I emailed them and explained to them im getting debt advice, yet they kept pushing me to complete a budget form etc and said I can’t do that right now as im going through a lot but stated many times I’m doing this with national Debtline. They ignored me and still took the money out of my account. I explained that to the advisor too.
No good telling anyone else, only your bank can help you recover that money.
As a matter of course you should have cancelled the method of payment they use, either the DD or the continuous payment authority on your debt card, again, contact your bank.
Longer term, look at getting a new basic bank account that no one else has any payment details for, and that will be your new, safe account going forward.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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