DRO

GoldfishCalledLarry_86

Hello, my first post here 😊 I’m currently in process of going through my DRO application, long story short I lost my partner 4 years ago and I’m a single dad to 5 children. I had to leave work and past 3 years I’ve struggled and my financial situation has gone worse, I’ve never missed a bill up until past 2 months I went to see CAB and qualify form DRO as I only have £25 spare income, my debt is 25k from loads and credit cards etc, I’ve been living in my overdraft and borrowing of family, I have had to cancel my PCP car and give it back it to the company and the 4.5k bill will be added to my DRO application and the CAB said we are just waiting on 1 final credit report for Equifax  and we can submit my application, I spend every night going through all my debts making sure I have them all and the right ££ that is owed, I’m so worried it will get rejected and it keeps me up all night with worry and I worry I’m going to be in the rejected 😔  I’m just after some reassurance as my advisor said 99.9% get accepted. 

Thank you 😊 
 

fatbelly

You have had good advice. Provided you meet the criteria, they are accepted.

I believe the main cause of rejection is that the person had already had one in the past 6 years and thought the Insolvency Service wouldn't notice

GoldfishCalledLarry_86

Thank you @fatbelly, that’s very reassuring 😊 sorry one more question, how long is the process to get the dro? I’m 8 days in now And if a company emails or send letters asking for me to pay do I tell them I’m going to be doing a dro or ignore them? As i can’t pay because of the Preferential treatment. 

Brie

The person doing the application for you is going to be an expert that knows what they are doing.  I know someone like this and she takes great pride in the fact that in over 10 years of making applications none have ever been rejected.  That's because she, and the rest, know they have to be very thorough in making sure everything is correct.  When something is a bit out of whack then the application would be delayed until thing align themselves.  

You're doing the right thing.  Now you can concentrate on your kids and look forward to better days ahead.  

fatbelly

Once your intermediary gets to the point of pressing the button, it gets approved within 48 hours.

Best to avoid talking to your creditors completely. They will be notified when the DRO goes through

GoldfishCalledLarry_86

@fatbelly @Brie thank you both so much 😊 

johnjs88

GoldfishCalledLarry_86 said:

Thank you @fatbelly, that’s very reassuring 😊 sorry one more question, how long is the process to get the dro? I’m 8 days in now And if a company emails or send letters asking for me to pay do I tell them I’m going to be doing a dro or ignore them? As i can’t pay because of the Preferential treatment. 

As said above - Do not converse with your creditors, they'll be served the documentation for your DRO within a few weeks of approval.

The longest part for me was going through document uploading and verification with Money Wellness.

The document verification stage probably took like 7 days with MW, I was pretty quick to pick up and answer the document requests though.

I had my telephone appointment with the OR on 11/2 and had the approval email with the documentation on 13/2.

If you miss any debts out of the original application, the OR will most likely find them during the telephone call.

I missed an overdraft from 2019, a mobile phone account from 2020 and a few lowell accounts and the OR found them when he pulled my credit files (iirc they pull it from all 3 CRA's) and he added them into the application.

You just need to make sure all known debts are on there, I looked at my credit file and discovered that overdraft would have become statute barred in august anyway.

But it's under the DRO now, so it's all good.

Jamie_37

johnjs88 said:

GoldfishCalledLarry_86 said:

Thank you @fatbelly, that’s very reassuring 😊 sorry one more question, how long is the process to get the dro? I’m 8 days in now And if a company emails or send letters asking for me to pay do I tell them I’m going to be doing a dro or ignore them? As i can’t pay because of the Preferential treatment. 

As said above - Do not converse with your creditors, they'll be served the documentation for your DRO within a few weeks of approval.

The longest part for me was going through document uploading and verification with Money Wellness.

The document verification stage probably took like 7 days with MW, I was pretty quick to pick up and answer the document requests though.

I had my telephone appointment with the OR on 11/2 and had the approval email with the documentation on 13/2.

If you miss any debts out of the original application, the OR will most likely find them during the telephone call.

I missed an overdraft from 2019, a mobile phone account from 2020 and a few lowell accounts and the OR found them when he pulled my credit files (iirc they pull it from all 3 CRA's) and he added them into the application.

You just need to make sure all known debts are on there, I looked at my credit file and discovered that overdraft would have become statute barred in august anyway.

But it's under the DRO now, so it's all good.

How did you book your telephone appointment with Money Wellness ??

they have sent the link to me today to book an appointment but all dates and times are Red (not available) and I can’t scroll to the next next month.

Did you end up contacting them yourself or did you have appointments available to you on the link provided ??

johnjs88

Jamie_37 said:

johnjs88 said:

GoldfishCalledLarry_86 said:

Thank you @fatbelly, that’s very reassuring 😊 sorry one more question, how long is the process to get the dro? I’m 8 days in now And if a company emails or send letters asking for me to pay do I tell them I’m going to be doing a dro or ignore them? As i can’t pay because of the Preferential treatment. 

As said above - Do not converse with your creditors, they'll be served the documentation for your DRO within a few weeks of approval.

The longest part for me was going through document uploading and verification with Money Wellness.

The document verification stage probably took like 7 days with MW, I was pretty quick to pick up and answer the document requests though.

I had my telephone appointment with the OR on 11/2 and had the approval email with the documentation on 13/2.

If you miss any debts out of the original application, the OR will most likely find them during the telephone call.

I missed an overdraft from 2019, a mobile phone account from 2020 and a few lowell accounts and the OR found them when he pulled my credit files (iirc they pull it from all 3 CRA's) and he added them into the application.

You just need to make sure all known debts are on there, I looked at my credit file and discovered that overdraft would have become statute barred in august anyway.

But it's under the DRO now, so it's all good.

How did you book your telephone appointment with Money Wellness ??

they have sent the link to me today to book an appointment but all dates and times are Red (not available) and I can’t scroll to the next next month.

Did you end up contacting them yourself or did you have appointments available to you on the link provided ??

I received an email with a "Click to Complete" button on it that took me to the appointment booking.

I'd just take the earliest they have that is convenient to you.

Jamie_37

johnjs88 said:

Jamie_37 said:

johnjs88 said:

GoldfishCalledLarry_86 said:

Thank you @fatbelly, that’s very reassuring 😊 sorry one more question, how long is the process to get the dro? I’m 8 days in now And if a company emails or send letters asking for me to pay do I tell them I’m going to be doing a dro or ignore them? As i can’t pay because of the Preferential treatment. 

As said above - Do not converse with your creditors, they'll be served the documentation for your DRO within a few weeks of approval.

The longest part for me was going through document uploading and verification with Money Wellness.

The document verification stage probably took like 7 days with MW, I was pretty quick to pick up and answer the document requests though.

I had my telephone appointment with the OR on 11/2 and had the approval email with the documentation on 13/2.

If you miss any debts out of the original application, the OR will most likely find them during the telephone call.

I missed an overdraft from 2019, a mobile phone account from 2020 and a few lowell accounts and the OR found them when he pulled my credit files (iirc they pull it from all 3 CRA's) and he added them into the application.

You just need to make sure all known debts are on there, I looked at my credit file and discovered that overdraft would have become statute barred in august anyway.

But it's under the DRO now, so it's all good.

How did you book your telephone appointment with Money Wellness ??

they have sent the link to me today to book an appointment but all dates and times are Red (not available) and I can’t scroll to the next next month.

Did you end up contacting them yourself or did you have appointments available to you on the link provided ??

I received an email with a "Click to Complete" button on it that took me to the appointment booking.

I'd just take the earliest they have that is convenient to you.

All sorted now, the first link they sent me had no available appointments but they’ve since sent me a new link with availability, had the call today and the application has been submitted.

Throughout the DRO application process I have never been asked to provide a bank statement, is this normal ??

I’ve passed every stage and I received an email around 5pm this evening saying the application has been submitted to the insolvency service but I’ve not provided or been asked for any bank statements which I thought was mandatory.

ManyWays

That is odd.

Are you 100% sure that all your debts are listed, no chance of any parking fines, old council tax arrears or benefit overpayments having been missed off?