My DRO journey

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  • fatbelly
    fatbelly Posts: 20,380
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    Gellerbing wrote: »
    Had to get upto date balances from my creditors which took forever!! finally paid my £90 on 4th june and rang them friday to let them know. I had to have a phone interview which lasted 40 mins and she submitted it there and then.
    Recieved a letter today confirming that my application had been submitted. I should hear back within 7-10 days which is the hardest part. I won't be able to relax until i get the decision, so hope those days go by fast.

    Check the insolvency register as you might appear there before you hear from your intermediary

    https://www.insolvencydirect.bis.gov.uk/eiir/
  • gellerbing
    gellerbing Posts: 349
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    Just checked and I'm on the register. Thank goodness.
    What happens now? Do i inform my creditors or do they?
    Wins: Cushelle Koala, Mama tea bundle, coconut ice cream recipe book
  • Twubble
    Twubble Posts: 80 Forumite
    Congratulations. Such a relief for you. The OR is supposed to notify your creditors, but mine weren't notified until 3 weeks later, and then some of them didn't get the message for a couple of months, so kept hassling me. Santander was the worst. They're all off my back and sorted now, though. Good luck.
  • snowwhyte
    snowwhyte Posts: 63
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    Congratulations. I thought it would come through fairly quickly. It does feel weird when you've finally got the DRO and there's nothing else to do but wait for it to run for a year. If you've been in debt for a long time and you have ordered your life around making payments or struggling to make payments and then suddenly you're free it is such a relief but it is also an adjustment. I know i won't truly relax until the year is over.
  • gellerbing
    gellerbing Posts: 349
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    Yeah i won't feel totally relaxed until all my creditors aknowledge the DRO, so far only 2 have written to me to say they won't ask for payment anymore. I am still been hassled by post office, halifax and very demanding payments, i just hope they do aknowledge it.
    Wins: Cushelle Koala, Mama tea bundle, coconut ice cream recipe book
  • snowwhyte
    snowwhyte Posts: 63
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    I'm two months and three weeks into my DRO and I decided to check my credit report with noddle. All my accounts are listed as defaulted except for my Natwest overdraft. I checked my payment and account balance history and it is not showing any missed payments which I guess is because they just automatically deduct overdraft charges from the account and if that takes you over the limit they just add on more charges. From when I stopped using my account in March until June my balance owed increased by about £280 due to charges. Then in July the balance went back down by £80. I can no longer access my online account because after Natwest received the DRO notification they wrote to let me know the account was being closed.

    I am just curious about the balance changes. I am unlikely to have received an unexpected payment in that account but would they maybe have refunded some charges? Are they likely to default the account soon? Do they keep adding charges until the end of the year and then default the account? Has anyone had any experience with this?
  • I'm six months into my DRO so I thought I'd post an update. There haven't been any changes to my circumstances although there is always a niggling worry that something will happen to my grandparents and I'll have to deal with the loss of close family members and a return of my debt problems. I am trying not to worry about things that probably won't happen but it is hard. I do occasionally think that if there hadn't been a three month wait to get the DRO I'd be three months closer to being worry free but I should focus on the positives.

    The DRO has been a very positive thing for me. It is such a relief to not worry about phone calls or letters through the door if you can't make a payment. I have been able to do a few things that I had put off due to lack of funds like going to the opticians and replacing worn out clothing. I have no regrets so far about doing the DRO and I hope that the next six months pass quickly so I can finally move on.
  • fatbelly
    fatbelly Posts: 20,380
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    Thanks for the update. As I said to someone else on a different thread, most people sail through a DRO with only positives.
  • snowwhyte
    snowwhyte Posts: 63
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    I made it through my DRO year without anything happening to derail it. My moratorium ended today so I can now stop worrying about something happening and try to get my life back on track.
  • Twubble
    Twubble Posts: 80 Forumite
    Fabulous news. Keep an eye on your credit reports, though. Mine is still showing a lot of defaults, and my DRO finished two months ago. I'm chasing them up.
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