Debt Relief Orders (DRO) - Information & help thread

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  • scarlet55
    scarlet55 Posts: 21,780 Forumite
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    i think i remember fatbelly or wba saying that they take the amount of debts owed upto when the dro is submitted so yes you will have to recalculate or phone your creditors up when you know it is being submitted...just be carefull if you are near the £15,000 thresh-hold tho because iff any interest that is accrued over the next seven weeks takes you over then you wont be able to have a dro.....hope this wont be the case xxx :)
  • scarlet55
    scarlet55 Posts: 21,780 Forumite
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    omg, i wish it was wednesday 2morrow lol xxx
  • bornjoyful
    bornjoyful Posts: 46 Forumite
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    hello.
    a couple of questions which maybe hae been answered but after reading 17 pages I gave up looking ;>)

    1) If someone gets a DRO will they be able to get a student loan/grant afterwards if accepted on a degree course at university (what if it is less than a year?)
    2) About the assets worth £300- nothing was bought on credit card so no trace ,but yes there are 2 tools owned each worth more than £300 each ..how would anyone know about them? (is the house checked)

    thanks in advance...trying to persuade a friend this is his best option
  • kerry2285
    kerry2285 Posts: 24 Forumite
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    scarlet55 wrote: »
    omg, i wish it was wednesday 2morrow lol xxx


    Good luck for wednesday :-) hope it goes well.

    Have seen my name on the register site tonight - made it very really and a bit scary if im honest but I know ts a step in the right direction!
  • broken_spirit
    broken_spirit Posts: 743 Forumite
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    scarlet55 wrote: »
    i think i remember fatbelly or wba saying that they take the amount of debts owed upto when the dro is submitted so yes you will have to recalculate or phone your creditors up when you know it is being submitted...just be carefull if you are near the £15,000 thresh-hold tho because iff any interest that is accrued over the next seven weeks takes you over then you wont be able to have a dro.....hope this wont be the case xxx :)

    I'm approximately in debt for £7500,00. So I'm well under the thresh-hold, but thankyou for the info. Perhaps if I ring my creditors the day b4 it's submitted I'll be ok. Can you add a little just to err on the side of caution or is that a no-no?:naughty::naughty::naughty: My only worry would be not been able to get through to my advisor so near the day of submittance, as they're so busy & it takes a long wait on the phone. I'm presuming it's an occurance with every form they put through though & I would guess they have some proceedure guidelines for all eventualities xxxx
    I am a Leo...& as such I will defend my "pride" ferociously....you have been warned!
  • scarlet55
    scarlet55 Posts: 21,780 Forumite
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    broken_spirit wrote: »
    I'm approximately in debt for £7500,00. So I'm well under the thresh-hold, but thankyou for the info. Perhaps if I ring my creditors the day b4 it's submitted I'll be ok. Can you add a little just to err on the side of caution or is that a no-no?:naughty::naughty::naughty: My only worry would be not been able to get through to my advisor so near the day of submittance, as they're so busy & it takes a long wait on the phone. I'm presuming it's an occurance with every form they put through though & I would guess they have some proceedure guidelines for all eventualities xxxx
    if he has told you 7 wks then maybe he will phone you...im going to ask my adviser if i can add a bit on just to cover any interest......if i remember right im sure thats what orville said he did and they told him it was ok so long as he didnt go overboard :j:j
  • kerry2285
    kerry2285 Posts: 24 Forumite
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    broken_spirit wrote: »
    I'm approximately in debt for £7500,00. So I'm well under the thresh-hold, but thankyou for the info. Perhaps if I ring my creditors the day b4 it's submitted I'll be ok. Can you add a little just to err on the side of caution or is that a no-no?:naughty::naughty::naughty: My only worry would be not been able to get through to my advisor so near the day of submittance, as they're so busy & it takes a long wait on the phone. I'm presuming it's an occurance with every form they put through though & I would guess they have some proceedure guidelines for all eventualities xxxx

    I had my appointment with the CAB last tuesday. I took in every recent bill I had but the night before I checked everything online again. I am being charged £10 a day by Lloyds TSB (I cancelled the DD but as the loan is with Lloyds they override this and take money anyways making me overdrawn!!)
    I told the advisor it was about £170 ish over drawn but they put it through as £250 just incase, so I assume this is something they are able to do.

    Could you find out the balances a couple of days before and post them first class to the person who is dealing with your DRO? or even an e-mail as this would be really quick. Worth a shot.
  • scarlet55
    scarlet55 Posts: 21,780 Forumite
    Rampant Recycler
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    kerry2285 wrote: »
    Good luck for wednesday :-) hope it goes well.

    Have seen my name on the register site tonight - made it very really and a bit scary if im honest but I know ts a step in the right direction!
    i know this might sound weird but i cant wait to see my name on there lol thanks for your good wishes xx:hello:
  • scarlet55
    scarlet55 Posts: 21,780 Forumite
    Rampant Recycler
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    bornjoyful wrote: »
    hello.
    a couple of questions which maybe hae been answered but after reading 17 pages I gave up looking ;>)

    1) If someone gets a DRO will they be able to get a student loan/grant afterwards if accepted on a degree course at university (what if it is less than a year?)
    2) About the assets worth £300- nothing was bought on credit card so no trace ,but yes there are 2 tools owned each worth more than £300 each ..how would anyone know about them? (is the house checked)

    thanks in advance...trying to persuade a friend this is his best option
    not sure about the student loan, you will have to wait for fatbelly or one of the others to answer that one...no-one comes to the house...if he bought the tools for £300 then i doubt they would fetch that now if he sold them...they are only intersted in assets that are worth that now, and if he could prove that he needed them say for when he gets work then it wouldnt matter....but no, no-one will come and check they will assume he is telling them the truth...
  • broken_spirit
    broken_spirit Posts: 743 Forumite
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    kerry2285 wrote: »
    I had my appointment with the CAB last tuesday. I took in every recent bill I had but the night before I checked everything online again. I am being charged £10 a day by Lloyds TSB (I cancelled the DD but as the loan is with Lloyds they override this and take money anyways making me overdrawn!!)
    I told the advisor it was about £170 ish over drawn but they put it through as £250 just incase, so I assume this is something they are able to do.

    Could you find out the balances a couple of days before and post them first class to the person who is dealing with your DRO? or even an e-mail as this would be really quick. Worth a shot.

    :TThanks. Stupidly I never thought about e-mailing them! Knowing that you can add a little (just in case!) is a comfort, so I may just round them up a little if I know it's a creditor who's likely to add an exhobertant ammount of interest or £12.00 per letter (robbing swines) I've a long way to go, but at least I can see the light at the end of the tunnel now!
    I am a Leo...& as such I will defend my "pride" ferociously....you have been warned!
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