DRO revoked help
Comments
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Ok, thank you, I just a little frustrated as I didn’t even apply for the PPI,
Thank you0 -
Oh, that might actually be an occasion where if the amount was below £1850 they’d take that into consideration. What a shame.
How did you end up with such a payout without claiming? That sounds really strange.0 -
I’ve read that article and I’m in exactly the same position, only the bankruptcy could potentially make me financially worse. It seems ridiculous that the insolvency service cannot make a decision based upon, if a lump sum may actually have a financially benificial effect fir the creditors if the DRO is revoked i.e. they may get some of their money back. When they clearly won’t, it just seems more paperwork for them and more cost to everyone. It’s a little bit bureaucracy gone mad and inability to think logically.0
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My ex husband claimed0
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And you didn’t at any point give him permission to via your signature, info about your own personal accounts etc?
If you had absolutely nothing to do with it then I actually would get in touch with them ASAP and explain this happened out of your hands, you can prove it (if you can), and ask if they’d be willing to consider not revoking it for the reasons you set out above. If it was your decision to claim and end up with the windfall that’s one thing but it seems unfair for your own DRO to be revoked because of something someone else did. Not sure how it works though re claiming PPI and how it’s possible for him to have done that.0 -
He advised that he was claiming his share of PPI from joint accounts, when I spoke to the people who were acting for him they advised my share would be absorbed into my debts, which was years ago and I assumed had happened and I thought nothing of it. Applied for my DRO last July and a cheque arrived on my doormat in February 2019.0
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If it's worth more than £1,850 your DRO will normally be revoked.
That info is out of date. For the past couple of years it has been:
Where a lump sum is received and the value of the debtor’s total property (including the lump sum) does not exceed £1,000 no action will be taken.
Where a lump sum is received and the value of the debtor’s total property (including the lump sum) is between £1,000 and £1,990 the Official Receiver will consider the circumstances of the case and may not revoke the DRO.
Where a lump sum is received and the value of the debtor’s total property (including the lump sum) exceeds £1,990 the Official Receiver will consider the circumstances of the case but it is likely the DRO will be revoked.maxmycardagain wrote: »will creditors/debts in a DRO be informed and possibly renew effots to collect debts?
Yes, normally you are given 3 months' notice and then creditors are informed the DRO has been revoked.0 -
genuine question,
why do they not take the lump sum and let you continue with DRO?0 -
genuine question,
why do they not take the lump sum and let you continue with DRO?
No assets can be seized in a DRO. It's a remedy for simple cases with minimal assets and minimal surplus income. Cases where full bankruptcy would be (and was) a waste of effort for all concerned. It's all now fast-tracked and simplified; hence the low fee.
The logic is that if someone has assets or surplus income they should go for full bankruptcy. That costs £6800 -
I have recently read old post from few years ago same happened to them and they were told to take the money spend most on essentials and pay for bankruptcy think that’s £6000
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