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  • FIRST POST
    • The-Joker
    • By The-Joker 26th Oct 17, 11:27 AM
    • 409Posts
    • 470Thanks
    The-Joker
    Old couple DRO?
    • #1
    • 26th Oct 17, 11:27 AM
    Old couple DRO? 26th Oct 17 at 11:27 AM
    An old couple in their 70s who rent their home, both have retired and each have just under 20K credit card debt.

    Can they both do a DRO at the same time, because most of the paper work will be the same? The same 50% of all income and expenses, the same address and same bills ect. Only bank statements and a credit card statement will be a little different for each of them.

    They dont have a car or any investments, they are both on old age pension, but both a little dodery and dont really understand the interest rates they are keep paying when there is no chance they can ever pay off the capital.

    They are in absolute poverty with this debt hanging round their necks.

    Which debt company is best for dealing with older victims of the banksters? CAB were not patient enough and they didnt get anywhere. It stepchange or any of the others particulalry good with dementure sufferers?
    The thing about chaos is, it's fair.
Page 1
    • elsien
    • By elsien 26th Oct 17, 11:32 AM
    • 16,531 Posts
    • 41,722 Thanks
    elsien
    • #2
    • 26th Oct 17, 11:32 AM
    • #2
    • 26th Oct 17, 11:32 AM
    You say they are doddery, then go on to mention dementia.
    Before looking at options, do they have a formal dementia diagnosis, and (regardless of this) do they have the mental capacity to understand the financial implications of any decisions that they might make? If the answer is possibly not, then they're likely to need more help than just sorting out paying the debts.
    All shall be well, and all shall be well, and all manner of things shall be well.

    Pedant alert - it's could have, not could of.
    • The-Joker
    • By The-Joker 26th Oct 17, 12:07 PM
    • 409 Posts
    • 470 Thanks
    The-Joker
    • #3
    • 26th Oct 17, 12:07 PM
    • #3
    • 26th Oct 17, 12:07 PM
    You say they are doddery, then go on to mention dementia.
    Before looking at options, do they have a formal dementia diagnosis, and (regardless of this) do they have the mental capacity to understand the financial implications of any decisions that they might make? If the answer is possibly not, then they're likely to need more help than just sorting out paying the debts.
    Originally posted by elsien
    No official diagnosis

    just old and dodery

    Say if they did have an official diagnosis, would the creditors take that into consideration, and are there any other routes rather than DRO for such situations?
    The thing about chaos is, it's fair.
  • National Debtline
    • #4
    • 26th Oct 17, 4:53 PM
    • #4
    • 26th Oct 17, 4:53 PM
    Hi The-Joker


    It is possible to ask creditors to write off debts. Things that could be pointed out are if the person is elderly, in ill health, has no assets, has little spare money for the debt and if their circumstances are unlikely to improve. If there are medical issues it's best to try and get some evidence to support this. There's nothing to lose by asking.


    If a write off is not successful then a DRO could be considered. You can't have a joint DRO so they would both need to make an application, but it can done at the same time. It would be important that they were able to understand the DRO and it's implications. If they don't get face to face advice the application process will be via telephone conversations and forms through the post.


    You can get further advice on this from one of the free debt advice charities. I hope it all goes well.


    Susie
    @natdebtline
    We work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps
    • Electrum
    • By Electrum 6th Mar 18, 2:49 PM
    • 210 Posts
    • 73 Thanks
    Electrum
    • #5
    • 6th Mar 18, 2:49 PM
    • #5
    • 6th Mar 18, 2:49 PM
    Hi The-Joker


    It is possible to ask creditors to write off debts. Things that could be pointed out are if the person is elderly, in ill health, has no assets, has little spare money for the debt and if their circumstances are unlikely to improve. If there are medical issues it's best to try and get some evidence to support this. There's nothing to lose by asking.


    If a write off is not successful then a DRO could be considered. You can't have a joint DRO so they would both need to make an application, but it can done at the same time. It would be important that they were able to understand the DRO and it's implications. If they don't get face to face advice the application process will be via telephone conversations and forms through the post.


    You can get further advice on this from one of the free debt advice charities. I hope it all goes well.


    Susie
    @natdebtline
    Originally posted by National Debtline
    something like this.... https://www.citizensadvice.org.uk/debt-and-money/sample-letters-to-creditors/Request-to-write-off-a-debt---letter/

    66 Heron Street
    Willowshire
    WL4 8HH
    Liable Loans plc
    123 Green Lane
    Redshire
    RE1 1ER

    6 March 2018

    Your reference: LL/ANO/Reminder1

    Dear Sir/Madam

    Account name: A.N. Other
    Account number: 12345678

    I am sorry that I am unable to keep up my monthly payments to your company. This is because I am very sick and unable to work. I have claimed benefits and am waiting to hear the outcome of my claim. My situation is unlikely to improve for at least 3 months.

    I enclose a copy of my financial statement. This shows income and expenses for me. You will see from this information that I am unable to make any offer of payment.

    Unfortunately, my circumstances are unlikely to improve in the foreseeable future and I have no assets to sell to help clear my debt. I am therefore asking you to consider writing off my debt as I can see no way of ever repaying it.

    If you are unable to agree to this, please explain your reasons.

    Thank you for your help and I look forward to hearing from you.

    Yours faithfully,


    Ann Other
    • fatbelly
    • By fatbelly 6th Mar 18, 6:40 PM
    • 12,342 Posts
    • 9,387 Thanks
    fatbelly
    • #6
    • 6th Mar 18, 6:40 PM
    • #6
    • 6th Mar 18, 6:40 PM
    An old couple in their 70s who rent their home, both have retired and each have just under 20K credit card debt.

    Can they both do a DRO at the same time, because most of the paper work will be the same? The same 50% of all income and expenses, the same address and same bills ect. Only bank statements and a credit card statement will be a little different for each of them.

    They dont have a car or any investments, they are both on old age pension, but both a little dodery and dont really understand the interest rates they are keep paying when there is no chance they can ever pay off the capital.

    They are in absolute poverty with this debt hanging round their necks.

    Which debt company is best for dealing with older victims of the banksters? CAB were not patient enough and they didnt get anywhere. It stepchange or any of the others particulalry good with dementure sufferers?
    Originally posted by The-Joker
    I'd normally say CAB is your best bet. Older people usually prefer the face-to-face treatment than a phone service. They both sound as if they are suited to DROs, provided they can understand what they are agreeing to (declarations will be read to them and it's part of the process that they understand them).

    Can you explore what happened at CAB? Did they try to farm them out to a contact centre? Did they not have intermediaries? Did your friends stop engaging with the process for some reason? Was there a problem with surplus income or some other factor?

    It may well be easier to pick up where they left off at CAB rather than starting again with stepchange.
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