Dro qualification

AG47
AG47 Posts: 1,618 Forumite
in IVA & DRO
Do you need to have less than £500 in your total bank account for the last six months or something?

What if somebody did have over that amount near to a grand in the months preceding?

Also can anybody please post the link to the allowable expenses for the cash flow?

I once saw it somewhere but can’t find it now.

Also is there is a list of all the things needed to provide in the application? For example do you need council tax, utilities bills etc?
Nothing has been fixed since 2008, it was just pushed into the future

Comments

  • fatbelly
    fatbelly Posts: 20,485 Forumite
    Name Dropper First Anniversary First Post Cashback Cashier
    AG47 wrote: »
    Do you need to have less than £500 in your total bank account for the last six months or something? No

    What if somebody did have over that amount near to a grand in the months preceding? The criterion is less than £1000 'assets' on the day of determination. Assets includes savings. Money in you bank account to see you through to the next benefit or wage payment would not count as savings.


    Also can anybody please post the link to the allowable expenses for the cash flow? Doesn't exist - just put down what you spend


    I once saw it somewhere but can’t find it now.

    Also is there is a list of all the things needed to provide in the application? For example do you need council tax, utilities bills etc? You need to provide your intermediary with what they ask for.
    Answers in red
  • AG47
    AG47 Posts: 1,618 Forumite
    fatbelly wrote: »
    Answers in red

    Thanks fatbelly but that list does exist

    There are max amounts listed for everything, for example, pets, smoking, entertainment etc etc

    I wish I could find it online.

    I'm sure some on here have that list.
    Nothing has been fixed since 2008, it was just pushed into the future
  • fatbelly
    fatbelly Posts: 20,485 Forumite
    Name Dropper First Anniversary First Post Cashback Cashier
    AG47 wrote: »
    Thanks fatbelly but that list does exist

    There are max amounts listed for everything, for example, pets, smoking, entertainment etc etc

    I wish I could find it online.

    I'm sure some on here have that list.

    The DRO application now works on the Standard Financial Statement. There are some guide figures in the statement - just broad terms not the detail you suggest.

    In practice no notice is taken of those guide figures but if your figures were ever queried, those would provide a starting point for discussion. They are only available to SFS licence holders.

    I could make a list for you giving figures for everything but it would have no validity - everyone's circumstances are different
  • AG47
    AG47 Posts: 1,618 Forumite
    fatbelly wrote: »
    The DRO application now works on the Standard Financial Statement. There are some guide figures in the statement - just broad terms not the detail you suggest.

    In practice no notice is taken of those guide figures but if your figures were ever queried, those would provide a starting point for discussion. They are only available to SFS licence holders.

    I could make a list for you giving figures for everything but it would have no validity - everyone's circumstances are different

    Ok thanks for good explanation fatbelly.

    And thanks again for the clarification on funds in bank account.

    So even if it's over £1000 at time of appkcation, if this is just funds for living until pension comes through then it's ok?
    Nothing has been fixed since 2008, it was just pushed into the future
  • fatbelly
    fatbelly Posts: 20,485 Forumite
    Name Dropper First Anniversary First Post Cashback Cashier
    Yes. Which is a good thing because if it was just 'bank balance less than £1000' that would cause a lot of problems.

    As Universal Credit moves in people will be getting one large sum per month (on top of anything they earn) which will include their rent support and tax credits. A couple of kids and a low earned income and the UC payment could easily be over £1000

    But that is not an 'asset' because by the end of the month it will be all gone.
  • AG47
    AG47 Posts: 1,618 Forumite
    what is the list of things needed please?

    Do you need bank statements for 6months?

    Do I need tenancy agreement, pension proof? WhT is the list needed please?

    These things are getting harder these days as we are all going paperless
    Nothing has been fixed since 2008, it was just pushed into the future
  • fatbelly
    fatbelly Posts: 20,485 Forumite
    Name Dropper First Anniversary First Post Cashback Cashier
    You need to ask your intermediary what they need. It could be some, all or none of these things. Organisations differ.

    Personally I'm more interested in getting the debts side correct
  • Craig1981
    Craig1981 Posts: 769 Forumite
    First Anniversary
    agree with Mr Fatbelly

    a DRO is something you are not able to do yourself, it must be done through an intermediary like Stepchange, CAB, NAtional Debtline etc

    they will then advise all documentation that is needed and help you with your financial statements
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