Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
Page 224
    • fatbelly
    • By fatbelly 11th Feb 17, 5:12 PM
    • 12,247 Posts
    • 9,281 Thanks
    fatbelly
    Looking at the criteria it seems I do qualify however there are a few things I'm unsure about and would really appreciate anyone's helps before I go through with the app. Creditor preferences? I am not sure what this means, there are outstanding balance I haven't even been able to make minimum payments to whatsoever and there is a doorstep lender I have which I haven't missed a payment for. Is this a preference? Also there is a very recent payday loan which I took because my partner was laid off at work and we had no income, he was to return to work the end of that month but then laid off again so hasn't been one payment made? Is this intentional debt and can I be refused for these reasons? I would really appreciate any advice!
    Originally posted by Mra199
    I wouldn't worry about it. The sense of the question is 'have you paid off one creditor knowing that you were going to do a DRO on the others?' Having said that, in the run-up to a DRO you should treat them all equally, and the best way to do that is to pay none of them. So stop paying the doorstep lender and don't pay the payday lender.

    The exception to this is rent arrears, which you are allowed to make payments to. TV licence is not a qualifying debt and obviously if you have car insurance or any joint financial product, then it makes sense to keep paying those.

    Feel free to ask if you have any other problems, but your intermediary should be able to answer any questions.
    • Mra199
    • By Mra199 11th Feb 17, 7:00 PM
    • 21 Posts
    • 6 Thanks
    Mra199
    Thank you so much for your response. That makes much more sense, I did pay the doorstep lender off in full early last year because of pressure but I had no idea about a DRO then or any debt remedy and obviously since then renewed the loan much to my discretion... When things got bad and I was unable to make payments to creditors I only made the payments to him again because of pressure. I will take your advice and treat them all the same as of now. Thank you!
    • Mra199
    • By Mra199 14th Feb 17, 9:33 PM
    • 21 Posts
    • 6 Thanks
    Mra199
    Sooo, I've sent all my documents to step change and will hopefully hear back soon, anyone have idea how long the process takes? I've received an email back from them confirming receipt and that someone will be in touch when it's been reviewed.

    Also any idea on door step lenders? I'm not quite sure what to say to him and haven't left the house since weekend incase he sees me
    Never missed a payment with him and he constantly goes on about how his customers respect him and know not to miss a payment with him... Little bit scary.

    Do I send a letter, do I mention a DRO application? Have tried calling head office but so far haven't got through..

    Feeling the pressure!
    • azzadle
    • By azzadle 15th Feb 17, 8:22 AM
    • 43 Posts
    • 13 Thanks
    azzadle
    My DRO is.. OVER!

    Six long years after recklessness as a teenager ruined my finances, the shackles are off. I won't be doing that again..
    • Slateford1
    • By Slateford1 12th Mar 17, 7:44 AM
    • 15 Posts
    • 1 Thanks
    Slateford1
    Hi,

    Help please, I'm currently in the process of applying for a dro but I have a major issue, I have 14 criditord and debts of 8000 I recently received 1200 from an insurance claim of which I paid my friend back nearly 1000, this had to be done as he was getting threatened with eviction and his family it will be seen as priority payment but it had to be paid as I was pressured heavily by his family and his families welfare was a priority... all my fault I know!! Will this mean I get revoked or not?? Thanks
    • fatbelly
    • By fatbelly 12th Mar 17, 7:54 AM
    • 12,247 Posts
    • 9,281 Thanks
    fatbelly
    The application can be declined

    http://www.i-m-a.org.uk/wp-content/uploads/2013/07/Preferences-and-Antecedent-Transactions-Guidance.pdf

    That doesn't mean it will be. The longer period between this transaction and your application, the better. When did it happen? When did you start getting advice from your intermediary?
    • Slateford1
    • By Slateford1 12th Mar 17, 9:49 AM
    • 15 Posts
    • 1 Thanks
    Slateford1
    Hi
    Hi, I got the application forms yesterday and the payout was early January, it was a case of 'having to pay' especially as it affected his family and kids would have been vulnerable if I hadn't stuck to payment.

    On the bigger picture I'm left with literally 10 pound surplus so if this gets rejected what will be my other most likely option?
    • fatbelly
    • By fatbelly 12th Mar 17, 10:10 AM
    • 12,247 Posts
    • 9,281 Thanks
    fatbelly
    OK, a 2-month gap already then. With 8k debt and 10surplus, this sounds like the way forward.

    There are no official application forms, apart from the website application that the intermediary fills in.

    I suspect you have got forms from Stepchange or similar.

    What does the question say, relating to his matter, that they are asking you? is it 'Have you preferred any creditors over others in your payments in the last 2 years?
    Last edited by fatbelly; 12-03-2017 at 10:12 AM.
    • Slateford1
    • By Slateford1 12th Mar 17, 11:01 AM
    • 15 Posts
    • 1 Thanks
    Slateford1
    I've spoken to the 'expert' and they said it's entirely down to the IP and it could go either way, but they also said they will forward the application as it as a good chance of succeeding because of my current circumstances and it was a pressured payment.

    I've just worried that if it gets declined I'm stuck more than ever. They did mention token payment until things change, this I can live with for sure but the problem will still be there.

    Any advice greatly received
    • Slateford1
    • By Slateford1 12th Mar 17, 11:03 AM
    • 15 Posts
    • 1 Thanks
    Slateford1
    Yes it's been mentioned the priority payment but I was left with little choice, also if I wasn't to go with this company and select another would they be no the wiser if I don't declare this payment? Risky I know or do I take my chance??
    • fatbelly
    • By fatbelly 12th Mar 17, 12:31 PM
    • 12,247 Posts
    • 9,281 Thanks
    fatbelly
    I've spoken to the 'expert' and they said it's entirely down to the IP and it could go either way, but they also said they will forward the application as it as a good chance of succeeding because of my current circumstances and it was a pressured payment.

    I've just worried that if it gets declined I'm stuck more than ever. They did mention token payment until things change, this I can live with for sure but the problem will still be there.

    Any advice greatly received
    Originally posted by Slateford1
    Yes it's been mentioned the priority payment but I was left with little choice, also if I wasn't to go with this company and select another would they be no the wiser if I don't declare this payment? Risky I know or do I take my chance??
    Originally posted by Slateford1
    Yes , if that was someone you owed money to then I agree you should declare it and then the decision is down to the DRO Team at the Insolvency Service.

    Presumably that wiped out your debt to that person.

    I think my advice would be the same as in your 1st paragraph
    • sourcrates
    • By sourcrates 12th Mar 17, 12:33 PM
    • 14,042 Posts
    • 13,302 Thanks
    sourcrates
    Yes it's been mentioned the priority payment but I was left with little choice, also if I wasn't to go with this company and select another would they be no the wiser if I don't declare this payment? Risky I know or do I take my chance??
    Originally posted by Slateford1
    As far as i am aware, and Fatbelly will correct me if i`m wrong, but i dont think any checks are done on your bank account, for example, you do not have to send in copies of bank statements.

    The only way they would know is if you told them.

    The whole DRO process relies (mainly) on the honesty of the debtor.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Free Legal advice see : http://legalbeagles.info/
    • fatbelly
    • By fatbelly 12th Mar 17, 12:56 PM
    • 12,247 Posts
    • 9,281 Thanks
    fatbelly
    As far as i am aware, and Fatbelly will correct me if i`m wrong, but i dont think any checks are done on your bank account, for example, you do not have to send in copies of bank statements.

    The only way they would know is if you told them.

    The whole DRO process relies (mainly) on the honesty of the debtor.
    Originally posted by sourcrates
    That's right.

    Again it's one of those cases that they can check what they want. But in practice 90 doesn't buy much routine checking, other than a credit check and a check of the insolvency records.

    Unless it's critical that you go for a DRO now (bailiffs acting for example) then a bit more of a gap between the preference and the application wouldn't go amiss.
    • Slateford1
    • By Slateford1 12th Mar 17, 1:47 PM
    • 15 Posts
    • 1 Thanks
    Slateford1
    Cheers guys I'll keep you updated much appreciated
    • Slateford1
    • By Slateford1 13th Mar 17, 9:15 AM
    • 15 Posts
    • 1 Thanks
    Slateford1
    I'm currently having to wait a few week to send my application in because I did a bit of overtime a few week ago.. so this is delaying everything but in the meantime can I offer a pound a month?? The reason I'm saying this is because of obvious grief of companies one of which as refused a pound? I thought they couldn't refuse?? Cheers
    • sourcrates
    • By sourcrates 13th Mar 17, 10:25 AM
    • 14,042 Posts
    • 13,302 Thanks
    sourcrates
    I'm currently having to wait a few week to send my application in because I did a bit of overtime a few week ago.. so this is delaying everything but in the meantime can I offer a pound a month?? The reason I'm saying this is because of obvious grief of companies one of which as refused a pound? I thought they couldn't refuse?? Cheers
    Originally posted by Slateford1

    Just write a letter to each creditor informing them of your pending debt relief order, and leave it at that.
    Why bother paying anything ?

    If your getting a DRO it's a waste of time and your money.

    If your worried about calls and letters, ask for all correspondence in writing only, then choose which you open.

    Debt collection takes a long time, original creditors virtually never take you to court, nothing will happen in the mean time.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Free Legal advice see : http://legalbeagles.info/
    • ch1978
    • By ch1978 19th Mar 17, 7:29 PM
    • 5 Posts
    • 0 Thanks
    ch1978
    I have a personal loan with a balance of 11,000 and a credit card with a balance of 1,800 both of which are solely in my name with an outgoing monthly cost of 300. My monthly income is 990

    On top of this, I have 3 young children and a wife who is not in employment. Because of her circumstances changing(having to be a house wife due to looking after the children) I am also paying some of her debts(credit card/store cards/care insurance).

    We jointly receive working tax credit, child tax credit, housing benefit and council tax benefit

    The car which she drives is in her name(value under 1,000) and our monthly rent is in both our names.

    I am very tempted to go for a D.R.O. but not sure how it would work with regards to me paying towards 'debts' that are in her name and also receiving 'joint' benefits.

    Would it be easier to simply apply for one based solely on what 'debts' that I have in my name only or should I include what I pay towards her 'debts'?

    And before anyone asks, despite the benefits that we receive, we are seriously struggling financially on a monthly basis
    • fatbelly
    • By fatbelly 19th Mar 17, 8:41 PM
    • 12,247 Posts
    • 9,281 Thanks
    fatbelly
    I can believe you're struggling. That's not a high wage, and your HB/CTB probably leaves a lot of rent/council tax still to pay.

    Payments towards her debts would not be a legitimate expense but if your income/expenditure as a couple shows less than 50 surplus before debt payments, that's fine. If it's less than 100, that's probably still OK as it's only your income/expenditure that goes on the application.

    How much are her debts? Maybe a pair of DROs is the way forward.

    You need to have a chat with an Intermediary. You could try CAB or Stepchange or National Debtline.
    • ch1978
    • By ch1978 20th Mar 17, 6:03 PM
    • 5 Posts
    • 0 Thanks
    ch1978
    I can believe you're struggling. That's not a high wage, and your HB/CTB probably leaves a lot of rent/council tax still to pay.

    Payments towards her debts would not be a legitimate expense but if your income/expenditure as a couple shows less than 50 surplus before debt payments, that's fine. If it's less than 100, that's probably still OK as it's only your income/expenditure that goes on the application.

    How much are her debts? Maybe a pair of DROs is the way forward.

    You need to have a chat with an Intermediary. You could try CAB or Stepchange or National Debtline.
    Originally posted by fatbelly
    Thank you for the response.

    Her debts are on credit cards and total approx 5,000.

    Ideally we did only want one of us to go for the DRO but if it will work in our favor to do a joint one then perhaps we will.

    When I initially took out the loan in my name, I was also on more money from work so my circumstances and obviously having another child have changed from when I originally took it out.
    When she received the credit cards, she was also in full time employment.

    Thinking a joint DRO will be the way forward and we will look to seek some more advice
    • sourcrates
    • By sourcrates 20th Mar 17, 6:47 PM
    • 14,042 Posts
    • 13,302 Thanks
    sourcrates
    Thank you for the response.

    Her debts are on credit cards and total approx 5,000.

    Ideally we did only want one of us to go for the DRO but if it will work in our favor to do a joint one then perhaps we will.

    When I initially took out the loan in my name, I was also on more money from work so my circumstances and obviously having another child have changed from when I originally took it out.
    When she received the credit cards, she was also in full time employment.

    Thinking a joint DRO will be the way forward and we will look to seek some more advice
    Originally posted by ch1978
    Can't do a joint one, it's one each.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Free Legal advice see : http://legalbeagles.info/
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

165Posts Today

1,762Users online

Martin's Twitter
  • It's the start of mini MSE's half term. In order to be the best daddy possible, Im stopping work and going off line? https://t.co/kwjvtd75YU

  • RT @shellsince1982: @MartinSLewis thanx to your email I have just saved myself £222 by taking a SIM only deal for £7.50 a month and keeping?

  • Today's Friday twitter poll: An important question, building on yesterday's important discussions: Which is the best bit of the pizza...

  • Follow Martin