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Stivani

Question on Debt relief orders.

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Hi was hoping someone could give me some advice on debt relief orders. I am struggling to pay my credit card each month and i am considering applying for a DRO.

 

Been doing some reading on them and i think i qualify. One thing that isn't clear from what i have read though is the £50 disposable income after paying your bills every month, most months i have this or less.

 

But what i'm wondering is can my monthly outgoings include the monthly payment i make to my Credit card?

 

Thanks in advance for any help.

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http://www.consumeractiongroup.co.uk/forum/showthread.php?411439-Debt-Relief-Orders-(DROs)-A-brief-guide-accurate-September-2015

 

The above may be of interest Stivani

 

Regards

 

Andy


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Tell us about your debts

Don't get a chain around your neck just yet


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, the whole DCA industry would collapse overnight.

 

 

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Tell us about your debts

Don't get a chain around your neck just yet

 

Hi my debts are all consolidated in the last year on one credit card, Barclaycard. The balance is now over £6500 and i'm struggling to pay the minimum payment every month, some months i have been short and had to borrow from family.

 

I'm currently on limited means as i look after my Mum.

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Did you reclaim everything before paying them off and check they were enforceable first??


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, the whole DCA industry would collapse overnight.

 

 

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Did you reclaim everything before paying them off and check they were enforceable first??

 

Hi yes i sent a two SAR's a few years ago and reclaimed £500-600 in charges, there was no PPI if i remember and as far as i understand they are enforceable as they both had my signature on file.

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ok,

but imho I would not go for a dro for a mere £6500.


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, the whole DCA industry would collapse overnight.

 

 

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ok,

but imho I would not go for a dro for a mere £6500.

 

I know where you're coming from, but i've considered it for a long time and if i do decide to do it it won't be a decision taken lightly. I understand it has an affect long term.

 

But i have basically just been servicing this debt for a few years and it hasn't shrank. My circumstances aren't likely to change soon so i'm leaning towards it being my only real option.

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well id stop paying now for 3 months and get a default on your credit file

as knowing Barclaycard they mark it AP if you don't and they never go away....

 

 

I know slick132 will see this and help later


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, the whole DCA industry would collapse overnight.

 

 

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I know where you're coming from, but i've considered it for a long time and if i do decide to do it it won't be a decision taken lightly. I understand it has an affect long term.

 

But i have basically just been servicing this debt for a few years and it hasn't shrank. My circumstances aren't likely to change soon so i'm leaning towards it being my only real option.

 

There are a lot more easier ways to dispense with it rather than a DRO :wink:


We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

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

 

If you want advice on your thread please PM me a link to your thread

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well id stop paying now for 3 months and get a default on your credit file

as knowing Barclaycard they mark it AP if you don't and they never go away....

 

I know slick132 will see this and help later

 

Hi how does having an AP on my file compare to a default?

 

Also if i don't pay for 3 months won't they sell the debt to a DCA, and if they do does that make things more difficult with a DRO?

 

Thanks for this advice.

 

There are a lot more easier ways to dispense with it rather than a DRO :wink:

 

Hi i'm open to other ideas, are there other methods you could suggest i look into?

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selling to a DCA would be better and they'll default you too if they do that..

the AP markers are not a default and are worse than a default as they never go away, they remain on file for upto 12yrs and wil kill any chance of credit just like a default

but unlike a default..as a default will VANISH along with the whole account from your file on the defaults 6th birthday

paid or not paying or not.

 

 

doesn't mean the debt is not owed mind

but atleast it will be off your file and not hurting your future credit from then on.


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, the whole DCA industry would collapse overnight.

 

 

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Ah i see thanks for the advice, i will probably go that route then.

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Which ever way you go

Its going to look bad on your credit file

 

The quicker a default gets registered the quicker it falls off


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, the whole DCA industry would collapse overnight.

 

 

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Which ever way you go

Its going to look bad on your credit file

 

The quicker a default gets registered the quicker it falls off

 

 

Thanks

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