DRO Or Bankrupt

[boredangel]

At the moment I have been locked in doors afraid of the bailiff due an unpaid parking fine. It has given me a serious wake up call for debts that I have ignore for a couple of years.

Anyway I have gone through all the recent mail and as far as I can tell I have 12.5K of debt. I contacted Debt Releif Helpline to get advice and assistance on a DRO. We professionally went through the budget sheet. However, they wont send me a DRO pack until I get an exact amount of my partners income. This si the problem. I dont know it...and he will not tell me. He says, as he sleeps on the sofa, pays the rent, and contribute toward food and fuel that is plenty. So I worked it out on what he contributes. This put me at £80 disposable income. (above the threshold for a DRO)

 

Ok, so i looked at Bankrupacy, but that is out because i cant raise the fees.

 

So my next step was to fill out the budget sheet and write to everyone I owe money too with a pro-rata offer. (1.33 for one of them?)

 

Can a DRO be worked out on exactly how much my Lodger come unsupportive partner gives me?

This is making me so Ill.. i have anxiety in my stomach, cant sleep, cant concentrate and cant seem to get a way forward and just feel like giving up totally !!

[nohope]

What he gives you is still an extra income so will be taken into consideration. Is he on anything to do with where you live, bills, tenancy?

[boredangel]

Hi No-Hope,

he has no name on the bills, debts or anything to do with the tenancy. He practically just lives here.

he doesn't really give me cash, he pays the rent from his money and tops up the electric meters and contributes to food. I asked him how much he gets but it caused such a row I left it. He said he contributes about £800 which is about right.

I have been doing the maths on the budget sheet for three days now and trying to minimise my out-going as best I can....I even looked up the average outgoings on the National Stats data base....But even after considering all priority outgoings I am still over for a DRO by about £30

I work and even checked if i was entitled to WTC but i seem to be in the bracket coined by politicians as "working poor"

[citizenB]

Have a read of the following and then contact National Debtline - they might be able to advise further..

 

 

The following has recently been brought to my attention and could prove very useful. Especially now the OFT guidance specifically states it's an Unfair practiceto ignore a cashflow budget!

 

If you are experiencing difficulty in repaying your debts, CASHflow is a way for you to negotiate affordable repayments with your creditors. Before you can use CASHflow, you must have spoken to one of the free advice agencies licensed to offer CASHflow to their clients. The advice agency will start by talking to you about all of the options available, and can help you to decide if CASHflow is the right one for you.

 

If you decide to use CASHflow, you will be provided with all of the tools you need to be able to complete your own financial statement and negotiate offers of repayment with creditors yourself. This will enable you to stay in control of your situation, but still have support from an adviser at any stage if you need it.

 

You can contact a local advice agency to check if they offer CASHflow. You can find a list of free advice agencies that are near to you by searching for a money adviser in England or Wales, Scotland, or Northern Ireland.

Alternatively, you can call National Debtline on 0808 808 4000

CASHflow: http://www.cashflow.uk.net/

National Debtline: http://www.nationaldebtline.co.uk/

https://www.mymoneysteps.org/

 

xx

 

Your debts arent mega at £12.5k (all relative, I know) and you might be able to come to an arrangement that will avoid bankruptcy.

[boredangel]

Thank you for that Mr Citizen, At the moment I willing to try anything.

It appears I have too much disposable income for a DRO.

Not enough for and IVA company to help me,

And no money to raise the funds to go bankrupt...

so I am willing to try anything

[citizenB]

I am pretty certain that National Debtline will be able to offer an acceptable solution for you. Please do keep us updated on your progress.

[boredangel]

Today I dont feel like walking into the sea and leaving only my clothes on the beach as evidence I ever existed . However, the pain from my broken tail bone is killing me, (im off sick from work due a broken coxhis,) because I had to get the bus into the city as I have hidden my car from the bailiff.

I went to see a CAB solicitor with the aim of asking for help with Bankruptcy papers. He was a nice kind wizened old chap , who looked at my income and expenditure form.. then raised and eyebrow...and then looked again and did a sort of guttural "humph" sound.

"why dear lady did you think you need to go Bankrupt" I showed him the figures and that with my partners income I had £ 83 disposable income. He did that "humph" noise again and went out of the room. When he came back he said that my figures were over-estimated and i was allowed to spend more on food and that the rules on DRO had changed and they wont consider my partners income as he doesn't owe the debts so I could stop worrying. So I started crying instead. and I said a prayer.. dear Lord please let this be true, I will continue to work hard and help everyone I can in my job and never never ever get a Credit Card or loan or fool myself into believing i will be able to pay it back...and never never ever live beyond my means again. ...

I filled in the forms for the credit checks to begin the DRO process and a lady from CAB will phone me at 10am on Monday exactly, as I told them i dont answer the phone anymore in case it is a debt collector.

Now Im home and researching the rules again on DRO because I still cant believe I will really be able to apply for a DRO. Oh please someone tell me It true and the DRO people wont consider my partner pension.

Thank you everyone for giving me hope!

[citizenB]

That sounds like bliddy brilliant news. Well done

 

I imagine that the CAB chap is right especially if he has started the procedure off for you. Please keep us up to date with your progress.

[nohope]

When i had mine done the bloke from the cab was great. i had a little to much disposable income so he juggles a few bits and said thats more like it then went on to say he will put it through with no problem.

 

The cab can be very good for some things but a lot of it depends if you get to talk to someone thats up to date with things they can do. They have a lot of people that help them out but to many of them only no what they read in books and online when someone goes to them with a problem.

Good luck, hope it all gets sorted.. Did they say if you can have the parking fine added to the dro?

[boredangel]

Filling out the personal budget sheet was a nightmare. I spent three days trying to think "just what and how much is reasonable expense" I dident want to appear frivolous and feckless with money, because I'm most certainly not. (apart from the three foreign holidays a year) *kidding. I havent been on holiday for 15 years and I think the most I spend on leisure is 25 a year to the council for the allotment.

Any way I found this and I hope it can be a great help to other needing to fill out budget sheets.

 

Yay..... Now I wont feel bad because I need a haircut at £35 !!!

 

http://www.beatmydebt.com/_contribute/Documents/56084d03776840f59b484033f28bcd31.pdf

[nohope]

Is that the one that the cab advise you to use?

[boredangel]

NoHope.

Its one I found on the internet. I think its used for Bankruptcy guidance. But im happy that i dont need to feel bad about occasionally buying a tuna sannich from the deli rather than taking mouldy cheese sannich to work everyday and im allowed to have my hair cut !!

I know it might sound a bit vain but office culture is a strange thing ! Do you know how difficult it is to appear professional when you cant afford a hair cut or £5.99 for a mascara? Just sayin!

[nohope]

Do you know how difficult it is to appear professional when you cant afford a hair cut or £5.99 for a mascara?

 

Yes i no how it feels and my oh nows the mascara side of it.

Sometimes i look in the mirror and think to myself, i'm not living, i just exist...

[boredangel]

Aww No-hope, keep your strength up. You are a wonderful help to people on these forums and give people the courage to carry on and deal with debt.

 

Today because of yours and others on the forum I seem to have some courage to carry on. Im definitely feeling much more upbeat than i have all week..........and Guess What? I opened a debt collectors letter this morning in stead of putting it in the drawer!! They only want £50 a month.....I think they're having a laugh !!

 

Im gonna stash ten pound a week under the mattress just in case the DRO works out. (fingers crossed) I dunno how long it takes for a DRO to happen...but hopefully I can save £90 in a couple of months.

[nohope]

As soon as you pay the 90 for the dro then go to see the person putting it forward for you they then press the send button and it should be accepted within 24 hours normally. as soon as its accepted thats the end of anything you have listed on it and if anybody sends letter after that just ring them to remind them you have the dro and they will probably go, oops, didnt notice that on your account. I had 4 different places still trying to get money out of me till i rung them and mentioned dro then they all slowly crawl back into there holes.

 

Was the best thing i had done for a long time and gave me and my oh a year of breathing space to try and get on top of life in general.

keep the dro to hand just in case anyone knocks on the door for anything you have included for it then you just show them and of they go with smoke coming out there ears as they have just wasted there time and petrol to visit you..

[nohope]

If its the cab acting as mediator or what ever there called for the dro then they get notified and ring you to let you no its been accepted.

I put mine in at 9.30 in the morning and was rung up by the nice man from cab at 4.30 the same day to say it was all done and to stop worrying anymore.

[boredangel]

Oh that would be so good, the stress of this worry I wont need a haircut my hair is falling out.

 

Last night I had a terrible nightmare that the freezer had packed in, and the washing machine had flooded, and the cooker blew up and the microwave. OMG I woke up sweating and panicking, about how the hell would i ever replace these item. Fortunately everything was fine....Funny thing stress.. makes one have the weirdest dreams.

[boredangel]

No-Hope, How many CAB appointments did you need? I am ok now as Im off sick, but im worried about time off work to see the CAB advisor?

[boredangel]

As I am off work I though I might start getting the paper work toghether.

Can anyone advise what I will need apart from the obvious DCA letters

Bank statemts umm what esle????

Sorry my head is getting all messed up again as its Monday tommorow and the inevitable hiding will begin all again

[citizenB]

As I am off work I though I might start getting the paper work toghether.

Can anyone advise what I will need apart from the obvious DCA letters

Bank statemts umm what esle????

Sorry my head is getting all messed up again as its Monday tommorow and the inevitable hiding will begin all again

 

Is this for the meeting with the CAB person ? If so, you will need utility bills, (unless they are shown as payments on your bank statements), Council tax bill, other paperwork that shows the amounts you are paying out as priority expenditure.. although if those are shown on your bank statements say as standing orders/direct debits then I think that they might not be necessary.

[nohope]

No-Hope, How many CAB appointments did you need? I am ok now as Im off sick, but im worried about time off work to see the CAB advisor?

 

I had 2. The first one was just to cover the basics and to give him all the paperwork for the debts, then the second one was a few days later to give him the receipt for the payment for the dro. then that afternoon he rung me to let me no its all done and dusted.

[nohope]

All i needed was proof of income, proof of who i am and where i live, tenancy to prove amount of rent, paperwork from the people i owed money to,debts.

The bloke from CAB done the IE part of it and that was it.

[boredangel]

OMG ! My bank doesn't send statements as I changed about a year ago....It all on-line.. *sobs.. I have no ink left to print them and cant afford any ink.

I dont have Gas or Electric bills as Im paying the debt via a pre payment meter.Not on my bank statements.. .OMG I dont know where the receipts are!

 

I cant get anything to do with my partners income as he has said its easier to leave and and live with step-daughter. OMG if he does that I will be a worse mess. He pays the rent in cash as well as the arrears.......

 

I can get a recent rent statement and council tax statement and the car insurance and water bills are all out my bank. petrol and food I guess to...

 

The only good thing about Sunday's is the phone stops ringing. ****.. I hate Mondays....what else will I need?

 

Im in panic mode.. I think i will take the option to walk into the sea and die after all!

[citizenB]

Just explain that to the CAB advisor.