DRO and preferential payments rules

Pianothing · 12 April 2018 at 12:02AM

Wow. The internet can indeed be a dangerous place to gather advice. It seems there are charlatans at large everywhere! It's the same in my industry. Thank goodness I joined this forum.
My research is largely slowing down now. I'm really sorry that I'm one of those that likes to know the ins and outs of everything but I work in a profession where advice is sometimes open to misinterpretation.
I'm also starting to believe that there is a solution to my problem and I might actually be entitled to use it. I've been through a lot of self loathing and feeling that I'm a really bad person. I hate the situation I'm in but it doesn't make me bad, I just got lost along the way somewhere.
So intermediaries have to be fair confident of a positive outcome before advising people to apply through them for a DRO? If Fatbelly is an intermediary perhaps he could comment if he gets many rejections? It doesn't seem to happen often. The intermediary I'm working with has never had one rejected he said.

fatbelly · 12 April 2018 at 7:52PM

I have done several hundred DROs and can only remember one application that got rejected - the client had had a DRO less than 6 years before but hadn't told me and it did not show up on his credit report.

Pianothing · 12 April 2018 at 11:57PM

I had a letter from my intermediary today. He has asked at our next meeting that I give him 3 months bank statements. I have already given him my pay slips as proof of income. Is he going to go through my statements line by line and want an explanation for each transaction?
I'm also a bit worried as a family member gave me a lump sum of cash for my three dogs to be cared for while I was incapacitated with my broken pelvis. Will they expect me to have given that to my creditors? The doggy people are a limited company and I paid them by bank transfer.
Oh this is all such a worry.

Pianothing · 13 April 2018 at 8:31PM

I also have a question about credit reports obtained by snail mail. Are they any different from the ones you can get from Experian and Equifax by joining a free trial on their website today. My intermediary has ordered postal ones which could take weeks. I joined a free trial and downloaded them within about half an hour. I was planning to send these to him but there seems to be little point if the ones he has requested are different in some way. Any comments gratefully received.

fatbelly · 13 April 2018 at 9:26PM

Pianothing wrote: »

I also have a question about credit reports obtained by snail mail. Are they any different from the ones you can get from Experian and Equifax by joining a free trial on their website today. My intermediary has ordered postal ones which could take weeks. I joined a free trial and downloaded them within about half an hour. I was planning to send these to him but there seems to be little point if the ones he has requested are different in some way. Any comments gratefully received.

They contain the same information but are presented a little differently

sourcrates · 13 April 2018 at 10:39PM

Pianothing wrote: »

I had a letter from my intermediary today. He has asked at our next meeting that I give him 3 months bank statements. I have already given him my pay slips as proof of income. Is he going to go through my statements line by line and want an explanation for each transaction?
I'm also a bit worried as a family member gave me a lump sum of cash for my three dogs to be cared for while I was incapacitated with my broken pelvis. Will they expect me to have given that to my creditors? The doggy people are a limited company and I paid them by bank transfer.
Oh this is all such a worry.

No they will not go into every detail do not worry.

Pianothing · 13 April 2018 at 10:58PM

Thank you Fatbelly. So do you think it's worth sending the reports I downloaded?

The CAB could save a fortune by not sending everything through the post. I guess as many of the advisors are older, retired people, they aren't perhaps as computer literate.

It's a little frustrating. Patience is not a quality I have in abundance.

fatbelly · 14 April 2018 at 7:52AM

Pianothing wrote: »

Thank you Fatbelly. So do you think it's worth sending the reports I downloaded?

The CAB could save a fortune by not sending everything through the post. I guess as many of the advisors are older, retired people, they aren't perhaps as computer literate.

It's a little frustrating. Patience is not a quality I have in abundance.

Yes - send them

That's not the reason for using post. Email is classed as an insecure medium, post is not. I know that's rubbish, if you choose to email relevant information to them that's fine.

Pianothing · 14 April 2018 at 7:01PM

Brilliant. Thank you for coming back to me. I'll send them over tomorrow/Monday:-)

Pianothing · 19 April 2018 at 8:25AM

So I've gathered up all the extra info my intermediary needed and sent it over including the two credit reports which he said he is happy to use. He phoned me to say he got everything and hopes to go through it all before our next meeting on Monday and that I should stay positive. But I don't feel positive. I just keep thinking that if something seems to good to be true, it usually is! And there is bound to be some reason why I can't apply. I really want to believe that by this time next week I could be starting my moratorium period and I can finally sleep at night and stop hiding behind closed curtains. Is it normal to feel like this? On a positive note, the people that I buy my dog food from messed up so I I ended up with three weeks worth of food and all my money refunded and then I found a £20 off voucher for a shop with Ocado so I got £80 of shopping for £60. I hope this is a positive sign of things to come and that I'll turn into one of those savvy shopper people that finds money off vouchers for everyday stuff!

DRO and preferential payments rules

Comments

Categories

Get our FREE Weekly email full of deals & guides - and it’s spam-free