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Hi, I am currently applying for a DRO and I have a few questions.

 

1. What are the chances of getting accepted?

 

2. It says that they will take control of my finances, does that mean that they will take control of my bank etc or will i have to show them how i spend my money etc?

 

3. I lied in my applications to get credit, does this change anything?

 

Thank you

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As we dont have the full story, I dont think we can really advise.

 

In what way did you mislead the companies to obtain credit ?

 

What companies.. ie Bank/PDL/Credit card ?

 

How old are these debts ?

 

Who have you spoken to regarding the DRO ?


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Uploading documents to CAG ** Instructions **

 

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Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy -

HERE

2: Take back control of your finances -

Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors?

Read Here

4: Staying Calm About Debt

Read Here

5: Forum rules - These have been updated -

Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

 

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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They were PDL and some are recent and some are several months long. I lied by saying that i have a job when i don't

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http://www.stepchange.org/Howwecanhelpyou/DRODebtrelieforder.aspx?WT.srch=1&WT.mc_id=200105&gclid=CPq_4Zzmg7QCFczHtAodRSAArQ

 

There is a lot of information regarding DROs on this site - StepChange - which is free.

 

I can see no mention of the query that most concerns you.

 

I think you will need to ask them.


Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy -

HERE

2: Take back control of your finances -

Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors?

Read Here

4: Staying Calm About Debt

Read Here

5: Forum rules - These have been updated -

Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

 

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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They were PDL and some are recent and some are several months long. I lied by saying that i have a job when i don't

 

 

Who did you mislead, the creditors or the agency you have approached regarding the DRO ?


Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy -

HERE

2: Take back control of your finances -

Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors?

Read Here

4: Staying Calm About Debt

Read Here

5: Forum rules - These have been updated -

Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

 

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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1. What are the chances of getting accepted?

 

If you meet the criteria - i.e. total debt under £15k, disposable income of less than £50 per month and no assets worth more than £300 (or £1k for a car) then you'll be fine.

2. It says that they will take control of my finances, does that mean that they will take control of my bank etc or will i have to show them how i spend my money etc?

You'll keep your account - although some banks may close the account if you have a DRO (Natwest do this). You'll need to submit a budget to the intermediary

3. I lied in my applications to get credit, does this change anything?

Unlikely, you may be asked to be subject to a Debt Relief Order Restriction Undertaking. It's really down to the creditors to consider action, and I've never come across any doing this.

  • Haha 1

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