09 Mar 2015

A question about : DRO Refusal


I am going for a DRO but am worried that I may get refused, I am so stressed out about it at the moment. If I do get refused how long do I have to leave it before I can apply for a DRO again?

I am really fed up as I saw an adviser in September and its taken until now to fill in the application form!!! Due to this delay the fees my creditors have added may have taken me over the Ј15k threshold which means I will be refused the DRO, I really don't know what to do.

Any ideas anyone, its making me feel physically sick.

Best answers:

  • Rest assured that no Approved Intermediary will ever put forward a DRO application that they feel has any chance of rejection, so on that score you should be ok.
    If you ARE over the Ј15k then the options are either to make pro rata payments to bring the balances down, or wait till later in the year, I think October, when it is proposed that the debt limit is raised to Ј20k.
    It is common to worry of course but do try not to if at all possible.