Jump to content


Debt relief order? Anyone heard of them?


alfwithhair
 Share

style="text-align: center;">  

Thread Locked

because no one has posted on it for the last 4377 days.

If you need to add something to this thread then

 

Please click the "Report " link

 

at the bottom of one of the posts.

 

If you want to post a new story then

Please

Start your own new thread

That way you will attract more attention to your story and get more visitors and more help 

 

Thanks

Recommended Posts

The Citizens Advice Bureau has welcomed new proposed legislation that will provide an alternative to individual voluntary arrangements (IVAs) for consumers on low incomes struggling with debts.

 

Announced in the Queens' Speech last week, the Tribunal Courts and Enforcement Bill will offer those with assets under £300 and surplus income of under £50 a month to apply for debt relief orders if the debt is less than £15,000, UK personal loan store reports.

 

This would enable the debt to be discharged one year later if the circumstances of the borrower have not changed.

 

Welcoming the bill, Citizens Advice Chief Executive David Harker said borrowers "need to be given some hope that they can turn things around," which he believed the legislation offered.

 

Such an order would still leave the borrower's credit history damaged as the credit agreement will have been breached

Link to post
Share on other sites

I have not heard of this. Where did you find this info?

OFT debt collection guidance

 

Please remember the only stupid question is the one you dont ask so dont worry about asking the stupid questions.

 

Essex girl in pc world looking 4 curtains 4 her pc,the assistant says u dont need curtains 4 a computer!!Essex girl says,''HELLOOO!! i,ve got WINDOWS!!'.

Link to post
Share on other sites

  • 1 year later...

Hi,

I heard about Debt relief order and i have few information on Debt relief order.

 

Qualifying criteria for a Debt Relief Order (DRO) are:

 

The outstanding balances to your debt must be under £15,000

You must not be able to afford more than £50 p/m towards the repayment of the debts, after the allowance of essential living costs.

You must not own an asset of a greater value than £300 - (including your property)

You must be domiciled in England, Wales or Northern Ireland or been a resident or running a business there for at least the previous 3 years.

You must not be subject to a bankruptcy, or a Bankruptcy restriction order, or an IVA or had a DRO within the previous 6 years.

Link to post
Share on other sites

Anthrax alert at debt collectors caused by box of doughnuts

 

Make sure you do not post anything which identifies you. Although we can remove certain things from the site unless it's done in a timely manner everything you post will appear in Google cache & we do not have any control over that.

 

Vir prudens non contra ventum mingit

 

[sIGPIC][/sIGPIC]

17 Port & Maritime Regiment RCT

Link to post
Share on other sites

  • 1 month later...

I don't think it's going to be really easy to qualify for this - it's justg another option - but it won't be open to a lot of people - according to this page What Is A Debt Relief Order - DRO Infomation from Baines and Ernst you can only have £300 of assets - most household have a couple of tvs, washing machine, sofas etc wouldn't these count as an asset that can be realised?

Link to post
Share on other sites

DEbtt rel;eirf order are like "mini bankruptcy" and there is certain criteria that you must have before being offered one such as the amount you owe is below 15 000 pounds that you have no asset and a low income.

Link to post
Share on other sites

da11ey

 

Household items dont count as assests.

OFT debt collection guidance

 

Please remember the only stupid question is the one you dont ask so dont worry about asking the stupid questions.

 

Essex girl in pc world looking 4 curtains 4 her pc,the assistant says u dont need curtains 4 a computer!!Essex girl says,''HELLOOO!! i,ve got WINDOWS!!'.

Link to post
Share on other sites

Anyone been through this process of a DRO yet and have personal experience of it?

 

What's the procedure like and are your assets assessed in the same way as a bankruptcy?

 

Does an official come to your house and value your goods?

:!: -Any advise I give is based purely on my own experience. It should not be solely relied upon as I am NOT a legal expert and any major decisions you make should not be based on my opinion alone -

HFC Bank - Davey vs HFC

Barclays - Monthly payments made

Cahoot - Agreement received, awaiting 2nd agreement after DCA.

MBNA1&2 - Agreements received. (Currently in limbo)

Halifax - Davey vs Halifax/Cabot

MINT - Davey vs Mint

Amex - Davey vs Amex

Cap1 **WON** £1,500 Written Off Davey vs Cap1

 

Never Sign Anything

 

Link to post
Share on other sites

  • 4 months later...
 Share

  • Recently Browsing   0 Caggers

    No registered users viewing this page.


  • Have we helped you ...?


×
×
  • Create New...