my debts

[dx100uk]

https://www.nationaldebtline.org/EW/factsheets/Pages/debtrelieforders/droadvice.aspx

7 hours ago, London1971 said:

 

 

 

https://www.nationaldebtline.org/EW/factsheets/Pages/debtrelieforders/droadvice.aspx

[jagxjs]

Thanks ive got them now to read through and also got a pro rata form . 

[jagxjs]

So sorry

but just to check

do i write to all these about the debts and try get deal to reduce monthly payments and stop all interest first or do I stop payments then write to them ? 

 

Same if I was going for the DRO option

do I just sort out and apply for that first or stop all payments then apply for it .

[dx100uk]

you can't continue the payments eitherway ...think about it...............

so it makes no odds if you stop payments now does it...

 

it can't harm you by stopping else they'd be no point in either dro or pro-rata as it shows either would thus be pointless

 

pers i'd go DRO simply contact an approved intermediary

[jagxjs]

Ok thanks guys for all the help & advice

 

I think I will go the DRO option but will open a new bank account somewhere else first etc. 

 

The only other things im little worried about is reading on the DRO it says about I wont be able to apply for credit but what about things like my car insurance as thats classed as credit paying it monthly

 

Plus they say i must not have assets or car worth over £1,000 so what about things like my car worth around 2.5k and as said before when my father passed away he left me his camper that I cant part with its worth about 4k and what about things in house and jewellery etc ??

 

Can they come to house and check and so on

[London1971]

Depends what the actual book value is, I'm guessing a few hundred quid either way won't make a difference. Besides I would imagine the fact that you are a carer and your wife has a serious disease might make them think twice about taking it away. It's not the time of Charles Dickens anymore.

 

It's also worth noting that we are in the middle of the biggest economic and health crisis in our lifetimes, half the country is getting behind on loans etc. You might be surprised how much forebearance there is right now. If you wrote the pro- rata letters. You have nothing to lose and could still go on a DRO if you wanted to.

 

Whatever you do, your credit will be hurt for a few years, but no matter how bad mine got, believe me far far far worse than yours, i was never declined monthly car insurance. 

 

Not saying a DRO isn't right for you but your no thinking clearly right now, and your going off in all directions and in my opinion using a JCB to try and crack a nut.

[jagxjs]

Ok so lets say i dont even say or show ive got the camper will they check somehow and will they or can they come to house and check what assets there and so on

[London1971]

Calm down you are acting like you are under pressure. You are under no pressure.

 

Bad decisions are made in this situation. Take the weekend off, it will make no difference.

 

These things move at a glacial speed, you are acting like, it’s all going down tomorrow.

[dx100uk]

if will not be  not paying your debtsas you'll have a dro ...then you'll have the money to pay the insurance in one hit soon , so save up.

 

as for the camper van and jewellery, they don't count and ofcourse no-one can come around.

debt is not criminal in this country and the stazi don't go looking at homes.

 

dx

 

[jagxjs]

ok again thanks for all advice , im going to continue and struggle on paying the wifes debts and maybe look at getting reduced payments but as for mine i think ill go down the DRO route and try get it sorted but will see and open new bank account somewhere first

[jagxjs]

Ive opened new bank account etc now so sorting out to get our money etc paid in there .

 

Im then going to cut off contacts with old bank and other debts and apply for DRO .

 

But do i add paypal to the list for DRO or forget about paypal like you said in other messages ?

 

I just want to make sure because i dont want to apply for DRO and then later on paypal comes back to bite me and then i wish is added it .

 

Sorry to be a pain guys but I just want to make sure and to date ive not had any letter or anything from paypal just couple of emails

[dx100uk]

Forget paypal

 

And  see if the forest drops thru your door before you go dro...

[jagxjs]

Sorry dont understand Forest ? I take it you mean loads of letters  from paypal or everyone

[dx100uk]

yes..but forget paypal..

[jagxjs]

ive applied for the DRO and its all being set up ready just got to send them final bank statement etc now then its all systems go.

 

But back to paypal

ive had no contact from them at all in all this time until today

ive had in post a letter from Moorcroft debt recovery limited in stockport saying they have been instructed by paypal to recover the debt and are asking me to contact them straightaway and make payment or agree to come to a payment plan and telling me they are now dealing with it and not to ignore this letter.

 

I can upload copy of letter if want.

 

So my question again now is 

I dont want the DRO all going through and then later on paypal comes back to bite me and be left having to pay then i wish I had added it to the DRO.

 

So what do I do ?

 

Do I add it to DRO or still ignore it

[dx100uk]

it can't hurt you to add it to the DRO

but i think you will find as its a foreign registered company/debt

it won't mean a thing to them and the DRO will be all but ignored. 

 

as you safely can with a PP balance debt that does not involve a PP UK credit registered company.

 

there are no examples of PP going anywhere near a courtroom in the uk themselves...

nor of them selling the debt to a UK debt buyer and them trying.

choice is yours.

 

well done on the DRO

 

please keep us updated as it will be a useful thread for people thinking of a DRO to follow your example upon how it goes.

 

dx

 

[paydayjoke]

I'm in load of debt (too much for a DRO) and "owe" paypal more than you. The way I see it is you never made any agreement with them to borrow money, they aren't a credit company, and in fact in your case someone else fraudulently (if true) did it.

I really care not what they threaten as I can't see them having a leg to stand on whatsoever.

[Will Goodfellow]

 

Who are you applying for a DRO with as you are not eligible?

You have a car worth 2.5k and a camper van worth 4.5k so you cannot legally apply for a DRO. If you haven't disclosed those assets, you are committing a criminal offence.

[Will Goodfellow]

On 04/07/2020 at 11:26, dx100uk said:

if will not be not paying your debts as you'll have a dro ...then you'll have the money to pay the insurance in one hit soon , so save up.

 

as for the camper van and jewellery, they don't count....

 

 

Wow. What makes you think that a camper van and jewellery don't count as assets in a DRO?

[jagxjs]

2 hours ago, Will Goodfellow said:

 

Who are you applying for a DRO with as you are not eligible? You have a car worth 2.5k and a camper van worth 4.5k so you cannot legally apply for a DRO. If you haven't disclosed those assets, you are commiting a criminal offence.

 

My car probably is not worth 2.5k it is to me but to sell it probably get much less .

 

as for the jewellery i meant the wifes etc but should not be counted really as its hers not mine

plus with the camper since my father passed it was registered in the wifes name so again should not effect and be counted

[Will Goodfellow]

Sorry, I missed the bit about it being your wife's jewellery. Regarding the camper van, it depends on which year you inherited it as to whether or not it can be classed as your asset.

[jagxjs]

it will be 3 years next month i inherited it but logbook etc was put in wifes name shortly after my father passed because she and my daughter would go off in it for a day here and there down seaside etc while i was busy and work so she used it more than me hence why put in her name 

[dx100uk]

[Will Goodfellow]

I think you're on very dodgy ground applying for a DRO as the camper van being in your wife's name doesn't mean it isn't your asset. I hope you're on good terms with your wife because essentially you are legally declaring that you gave the camper van to her and no longer have any interest in it. She owns it, can do what she wants with it and can sell it without you being able to do anything.

Edited August 30, 2020 by Will Goodfellow