Debt Relief Orders (DRO) - Information & help thread
Comments
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It says im still subject to a debt relief order until Jan 19, but I just wanted to avoid the repercussion of not telling the insolvency service that my income has increased substantially, even though i've only started working 2 weeks ago - as detailed on my debt relief order conditions, I could be prosecuted and fined for not disclosing this information.
In any case i might have to just wait until the end of the month, and check the register again to see if it has changed. Its only in the 2k region, which is why I suggested to pay it off as quickly as possible without incurring interest.0 -
Its only in the 2k region, which is why I suggested to pay it off as quickly as possible without incurring interest.
What is in the 2k region, your total debt ?
If that’s the case, I can see possibly why a DRO would be sought when you were not working, no real income etc, but even if it’s revoked, it’s not the end of the world for such a small amount of money.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
It says im still subject to a debt relief order until Jan 19, but I just wanted to avoid the repercussion of not telling the insolvency service that my income has increased substantially, even though i've only started working 2 weeks ago - as detailed on my debt relief order conditions, I could be prosecuted and fined for not disclosing this information.
In any case i might have to just wait until the end of the month, and check the register again to see if it has changed. Its only in the 2k region, which is why I suggested to pay it off as quickly as possible without incurring interest.
Assuming you got the DRO in Jan 2018, it has not been revoked. Post a soa here and I'll give you my opinion on whether it will be. I don't see the point of paying 2k out if you can avoid it.
Have you had your first wage yet?0 -
Billy - I agree that 'do nothing' is her best option.
Technically the £375 is NOT covered by the moratorium since it was not listed AND she should inform the DRO Unit of the omission. But I'd leave it.
Also, Very do not have to refuse payment from a 3rd party but the fact they have done may mean that account is also frozen and will be written off in due course.
Fatbelly, Sourcrates...thanks for your replies. I'll leave it and let it plod along. Received a cheque over the weekend for the payment I'd made from my account so I'll just wait and see if they chase it after the moratorium period ends. :beer:0 -
Assuming you got the DRO in Jan 2018, it has not been revoked. Post a soa here and I'll give you my opinion on whether it will be. I don't see the point of paying 2k out if you can avoid it.
Have you had your first wage yet?
i'm paid weekly so yes ive had my first wage, ive also done a budget calculator which i assume is like an SoA plus i don't really have any assets to my name apart from cash and the debt is unsecured i believe (bank overdraft).0 -
If you post it (weekly or monthly) I can let you know if I think you are being unreasonable with your figures.0
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Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 3
Monthly Income Details
Monthly income after tax................ 1200
Total monthly income.................... 1200
Monthly Expense Details
Secured/HP loan repayments.............. 0
Rent.................................... 120
Mobile phone............................ 5
Groceries etc. ......................... 100
Clothing................................ 5
Other travel............................ 60
Presents (birthday, christmas etc)...... 10
Entertainment........................... 5
Emergency fund.......................... 0
Total monthly expenses.................. 305
Assets
Cash.................................... 350
Total Assets............................ 350
No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Bank overdraft.................1800......0.........0
Total unsecured debts..........1800......0.........-
Monthly Budget Summary
Total monthly income.................... 1,200
Expenses (including HP & secured debts). 305
Available for debt repayments........... 895
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 895
Personal Balance Sheet Summary
Total assets (things you own)........... 350
Total HP & Secured debt................. -0
Total Unsecured debt.................... -1,800
Net Assets.............................. -1,450
Created using the SOA calculator at www.stoozing.com.
Reproduced on Moneysavingexpert with permission, using Firefox browser.
removed some elements from the SOA because they weren't applicable such as not owning a car, living in friends house, and student loan kept being accounted for when it only takes payments if earning over 21k.
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I'm guessing you live with parents (hence the 3 adults, low rent, nothing for council tax, water, electricity, gas, t v licence, low spend on groceries, clothing). Also you don't own a car so your travel costs are low.
You are right in that you can afford to pay your debt in 2 months.
In fact you are so right that I wonder whether you should have had a DRO at all. I don't like doing them for less than £3000 and I am also cautious about doing them for younger people who might be going through temporary unemployment.
Never mind, you're going to be fine.0 -
Can overpayment of wages from previous employment be included in a DRO? Thanks.0
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smallandcute wrote: »Can overpayment of wages from previous employment be included in a DRO? Thanks.
Hi smllandcute
It certainly can.
Have you not done a DRO yet? You were looking at it 18 months ago.0
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