We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Case in hand...
maxmycardagain
Posts: 5,853 Forumite
Debtor owes:-
£8500 cards/loans/overdraft/HP
Car on finance, balance is £17,500
the settle is £14,500
its auction value is £11,000
If the car is returned/sold it adds circa £3500 to the £8500 = £12,000
Even with a possible existing overdraft of £4000 it means she will be under the £20,000 limit for a DRO, she is now on UC only
.......so she asks..
How does she physically apply for a DRO?
Is it as simple and online like a BR?
Does she need to via a "handler" paying fees?
What does it cost?
How long from start to finish does the DRO take complete?
Does a DRO appear in the Gazette or IS website?
£8500 cards/loans/overdraft/HP
Car on finance, balance is £17,500
the settle is £14,500
its auction value is £11,000
If the car is returned/sold it adds circa £3500 to the £8500 = £12,000
Even with a possible existing overdraft of £4000 it means she will be under the £20,000 limit for a DRO, she is now on UC only
.......so she asks..
How does she physically apply for a DRO?
Is it as simple and online like a BR?
Does she need to via a "handler" paying fees?
What does it cost?
How long from start to finish does the DRO take complete?
Does a DRO appear in the Gazette or IS website?
0
Comments
-
Some info
https://www.stepchange.org/how-we-help/debt-relief-order.aspx
12 months to complete.
Will appear on the insolvency register.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.6K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.1K Spending & Discounts
- 246.6K Work, Benefits & Business
- 603K Mortgages, Homes & Bills
- 178.1K Life & Family
- 260.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards