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Hey, I currently have a DRO in place. The conditions say that I have to notify any creditor that I have a DRO if it's for more than £500.

 

My phone contract is coming to an end, and I want to upgrade my handset. I can either stay with my current provider, or go with another. But my question is - do I need to tell them about my DRO? Either if I stay with my current provider or move to a new one.

 

I can get a phone for about £30 per month, on a 24 month contract. So that means I'd spend £720 over 2 years. Does this count as a £720 loan?

 

I don't want to jeopardise my DRO, that's more important than a new handset. So just wanted to get some advice, thanks.

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A phone is not credit


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A phone is not credit

But it's a credit agreement surely? I'm getting an expensive smartphone without paying for it immediately. And they do credit checks, so how is it not credit?

 

I wouldn't be able to get one with most providers, but BT have offered me one as I have broadband with them already. I just want to be 100% certain that it's ok before making any decisions.

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they do do credit checks. and payments are recorded on credit files

but, it is not a credit agreement as such that gives you 720 of ongoing credit.

its just a monthly instalment. if you default, you have to return the phone.

ps, (unless it is something like dx has just posted below)


IMO

:-):rant:

 

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nope not unless its the new type of mobile agreement

its not covered by the cca

there are some around whereby you sign a loan agreement for the phone

and then take an airtime package that is not part of that

 

 

imho I'd go pay as you go.

 

 

giffgaff


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

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please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

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nope not unless its the new type of mobile agreement

its not covered by the cca

there are some around whereby you sign a loan agreement for the phone

and then take an airtime package that is not part of that

 

 

imho I'd go pay as you go.

 

 

giffgaff

Ah I see, thanks for the info.

 

I can't go PAYG at the moment, I don't have the spare cash for a new phone.

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ps, if they do a credit check, then they'll see the dro.

if in any doubt, double check with yr dro administrator


IMO

:-):rant:

 

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