Debt Relief Orders (DRO) - Information & help thread
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I missed this,so thanks for the "bump". Just told my OH about it. He has debt of 10k and doing a DMP with CCCs of £70 a month,which will take 13 years to clear. We have no asSets,house and the car is worth less than 1k.
Would certainly be worth him looking into. I feel a e-mail to DD coming on:rotfl:Free impartial debt advice available from: National Debtline - Tel: 0808 808 4000 | The Consumer Credit Counselling Service (CCCS) - Tel: 0800 138 1111 | Find your local Citizens Advice Bureau
Laugh at yourself and others laugh with you.Laugh at others and you laugh alone. BSC No 107:D0 -
I think this is amazing!!! it sorts out students, low income earners, people who succumbed to loan sharks and door step lenders etc etc I wish it was available to me years ago when I was in sinking sand and I started the cycle of over commiting to cover student debt and then living
Interest rates would go catastrophic though to cover the heightened risk of default etc. How would this be funded?
It's a scary thought I hope they've done the maths right?0 -
Keep up the excellent work chaps. Just thought I'd add that I am pretty certain that student loans are not included in the DRO scheme. :eek:0
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Hi all.
Following on from others, just a little update.
We have very recently had official conformation that Citizens Advice has been awarded 'Competent Authority' status to approve and appoint DRO intermediares who will be authorised to complete eligible applications. We have also been given confirmation of training dates starting February 2009 with it looking very likely now that DROs will indeed be available from April 2009.
We already have a number of clients were a DRO may be suitable and have adapted our mainstream advice to include DROs.
What impact this welcome option will have remains to be seen but we believe it will be significant in a number of ways and may well be a godsend to those eligible (hope so).
It is very likely that DROs may become another widely discussed subject on this forum and all that goes with that.
Keep up the good work
NED-CABVisit our website at www.ned-cab.org.uk or find your local CAB.
Other non-profit debt advice services:
National Debtline: 0808 808 4000
Consumer Credit Counselling Service (CCCS): 0800 138 11110 -
Should have posted the following in this thread rather than a new thread, just some info ...
http://forums.moneysavingexpert.com/showthread.html?t=1430677
Mr E.0 -
Bump!!BSC #215/No.1 Jan 09 Club0
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Whilst Debt Relief Orders are clearly going to be an easier and cheaper process for those with 'smaller' debts, I think it'll be only a matter of time before they'll be considered the equivalent of a bankruptcy. At least it's another option for some people.0
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Would have helped me.
Luckily I got the court fees paid by fee remission and the Deposit from a previous employer's Benevolent Fund, otherwise I would have had a difficulty in raising the £500 or so.0 -
Hi everyone,
A couple more useful/interesting links on Debt Relief Orders which include the Insolvency Service's anticipated application numbers!!
http://www.i-m-a.org.uk/debt-relief-orders.html
http://www.insolvency.gov.uk/insolvencyprofessionandlegislation/DebtRelief.htm
NEDCABVisit our website at www.ned-cab.org.uk or find your local CAB.
Other non-profit debt advice services:
National Debtline: 0808 808 4000
Consumer Credit Counselling Service (CCCS): 0800 138 11110 -
...interesting thoughts Bat.
I am led to believe that 'normal household goods' are ignored as in BR.
Also i wonder what allowances will be made about income re the £50 pm disposable income ? Is it BR type ? ie holidays, haircuts or as I am led to believe, the less generous BBA figures ? Does a partners income count ?
I and some of my colleagues are going to be registered intermediaries, training in mid March !! - cutting it a bit fine me thinks ! I should think some of the NED CAB guys will be too.
Best
DDDebt Doctor, Debt caseworker, Citizens' Advice Bureau .
Impartial debt advice services: Citizens Advice Bureau Find your local CAB *** National Debtline - Tel: 0808 808 4000*** BSC No. 100 ***0
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