Considering a DRO need advice

A question about : Considering a DRO need advice

Hi guys.

I've read a few threads on here about DRO's but I'm on my mobile so I'm finding navigating around the site difficult. So thought I would just post.
As you can see it's 3am in the morning. Anotjer night of not being able to sleep. Things were going ok up till last July. Left an abusive relationship after 14 years. Then got made redundant two months after.
Started a downward spiral of depression and started suffering with anxiety and panic attacks. Still not 100%. Have three children to support and don't feel able to go back into work yet (low self esteem confidence issues, medical reasons and childcare costs all adding to my woes) but I do realise absolutely that I am the only one who can change thngs around.
Lack of sleep is not good when you have three kids running about.
So I need to be proactive and try and sort my life out.

Having researched dro I have done an income expenditure form and noted all my debts.
Total debts stand at Ј5284
Total left over each month from income is Ј10.40 although I never seem to have anything.

So a couple of questions

1) is a dro right for me
2) how long is the process
3) what banking facilities can I have / who will give me a bank account
I understand the impact on my credit file. And I don't really care about that I just want my health and happiness back. I want to sleep at night. I want to enjoy time with my kids instead of stressing out.

Thanks for reading

Best answers:

• Also isvtheir a set amount they accept for certain things such as food for a family of 4 or clothing and footwear etc. Do they consider school trips?
• Hi,
  Im sure someone far more knowledgeable will come along soon, but I am almost at the end of my Dro and it was the best thing I ever did.
  Looking at what you have wrote, it sounds like it could be the right thing for you, but maybe if you spoke to National Debtline or Cab or one of these places that can advise more might help (especially as you will end up going through one of these to sort out the dro).
  The process for going through everything can vary. They require (as you may have seen/read) various things included with the application and this can take a little time to collect. (things like recent months bank statement, credit report etc etc).
  Once your intermediary has made sure everything is in order (they won't submit it unless are 100% sure everything is in order and will go through), it gets submitted once you pay the Ј90 fee. A couple of days is all it should take (depending if the IS are busy), and then it should be complete.
  The whole process could be weeks to months. I guess it just depends? Mine took until early March from starting the late previous November - but I had some problems with items I had to retrieve and taking longer than it should have to get them! (ie, I had an error on my credit report needed fixing, and i needed a letter from Dwp stating what benefits i received but they kept sending the wrong letter! adding weeks to my waiting!)
  Before you go through all this - you set up a basic bank account. I did this long before my application was submitted. Most banks do a basic account - but you may want to make sure the bank you choose, doesn't have any ties to any banks/accounts from your creditors.
  Anyhow, I'm sure someone else will add more to that, but that's the basics of it.
  Good luck!
• @FIGHTER please carry out the StepChange remedy here:
  Its totally anonymous and it will ask a few questions here and there and then at the end it will tell you what is the best option for you. Now going by what you have said, the right thing for you in my eyes is a Debt Relief Order.
  Now i was the same as you just over one month ago believe it or not worried about how bills and debts were going to be paid ect and how payment plans i had setup were coming to an end and the worry of them asking for more money was going to start again making me and my family even more worse off.
  We sat sometimes and thought how amazing it would be with all the debts paid off but yes we could think about how good it was going to be and that was it the worry was still there.
  Then at the end of January 2015 i told my wife about a Debt Relief Order which i could try and get, now i sent an email to StepChange and they sent me the link which i have provided above to fill in anonymously.
  I carried out the anonymous form and at the end it informed me that a Debt Relief Order was best for me, it also asked if i wanted to be sent the forms to apply.
  The forms arrived and i sent them back to StepChange with all the details they required and i waited 10 days and they then sent me a letter with a barcode on it to pay the Ј90 fee which goes directly to The Insolvency Service. They also provided me with a copy of your application to look through.
  Right away i paid the Ј90 fee and you then had to phone StepChange to give them updated amounts of each debt you have and i then told them i had also paid the fee which right away they submitted my application.
  I waited 3 days and i received a letter to inform me i had been approved. And that is that the end of all my debt problems and look at the date today its the 22nd so i done all of that within say 25 days.
  As soon as i personally decided to do this at the end of January i stopped on the spot paying my debtors and emails each of the CEOs and informed them to freeze my debts for 30 days because i was having money problems and was seeking advice from StepChange and all of them did apart from Argos.
  I then used Ј90 of the money i would have used on them debts to pay the Ј90 fee. And look i am here now totally clear of stress and worry from debts.
  But please use StepChange they are fast and professional and really friendly on the phone.
  Any other questions just ask...
  *SORRY HAD TO REMOVE THE LINK BECAUSE OF THE SILLY RULES ON HERE, I DID TRY AND HELP. MAYBE I COULD PM THE LINK TO YOU.*
• I have a rbs account I get a cheque book so I guess that will go.
  I also have a halifax easy cash account.
  I will order my bank statements now.
  I just need to be able to breathe. Its on my mind all the time
  I really don't care about being able to get credit
• Hi the inkman.
  Looks like we posted at the same time sorry I wasn't ignoring your post.
  I'd be grateful if you could pm the link. I feel so ill at the moment.
  Stress worry the lot. Trying to play with the kids but my minds on this.
  Well done for getting sorted. I can imagine the relief must be massive.
  I just remembered another bill this morning. I must try and get everything included.
  I've been on noddle so I think I have them all now.
  Be so grateful for the link.
  I have emailed stepchange this morning
• If you are in debt to the bank/s, only then does the account close
  I kept my halifax accounts to this date and in fact they have been upgraded since (though if you can understand I kept my bank needs low key and tried not to draw attention to myself, until 3 years later like the diva I am! )
  If at first you are put off, keep trying - just be prepared that you are going to get advice that will tell you to pay a pound, be as strong as you can be if you are sure this route is right for you - I only say this cos I saw a benefits programme with a Mum who seemingly got guided this other way by a charity recent although I appreciate we didn't know the in's and out's, perhaps the car value was over
  Good luck sweetie, plenty of us have come through and lived to survive, even if only a little better as it's deemed bankrupt, though I prefer hearing this to 'bad credit' and I don't know that enough emphasis happens, I can't really say anything else but yours in support and make sure you get every debt into the order x
• For all your lovely responses. I really do appreciate it.
• @FIGHTER i cannot reply to private message because yet more rules by this website only allows me to send 1 message in 60 minutes. Really is silly
  The link shouldn't be asking for login details though
• Hi,
  I used step change their were fantastic and also really quick. I went on their website and did their debt remedy thingy and agreed for them to contact me. Originally it suggested a debt plan but after speaking with them they said I met everything for a dro. From the first phone call to receiving my DRO took about 4-5 weeks. Step change were very quick in sending me stuff in the post and my credit report came back quickly too. Step change will go through your income/expenditure report, they even told me I was not spending enough on certain items. They do allow school trips etc in the budget. (I think newspapers were even allowed but I don't buy these).
  I do not regret doing the DRO a big weight got lifted and for once feel normal. I know my credit rating is rubbish for 6 years from the DRO, but to be fair once the DRO is completed I just live within my means now instead of living past them so do not need credit at the moment. I have even been able to get a new mobile phone on contact since my DRO has finished (thats the only item with a credit check I have now).
  If you go ahead I would advise getting a basic barclays account they accept people with a DRO as I was in a very bad situation with Halifax. I did not owe them or any of the financial partner banks anything but out of the blue they closed my account without warning. This meant all my incoming payments bounced and I was left without any money for about 3 weeks until I had the barclays account opened and the relevant companies re-paid the money in. You maybe okay but from a personal opinion I would not risk that happening, as Halifax told me that even though I owed them nothing they get notified that I was on the insolvency register and said they do not accept anyone who has a DRO etc.
  Contact step change (or any other free service) but I rate step change service very highly. If you have any other questions ask away many people will try and help.
• Its suggested a dmp.
  I really don't want to go down that route. I don't have money left to pay.
• I don't know where to turn now. My head hurts from stressing I don't know what to do
• I wouldn't take the result it gives as gospel - when I first used National Debtlines tool online for recording all your incoming/outgoing and suggestions for sorting the debt out, a Dro was one of a few things, including a dmp and other suggestions.
  I would suggest actually speaking to someone on the phone or in person, either Stepchange, or National Debtline or even try to make a Cab appointment in person.
  From what you say you should be able to go the Dro route, so don't take what it says as the final answer.
• Tjanks sortingdebts.
  I'm worried because I have just clawed back money from one creditor that was paid through a continuous payment authority and I think I may get into trouble for doing so.
  I clawed the money back because I had nothing
• Me and partner claim esa. Can they take his half of the money into consideration
• Everything is just really getting to me. I don't feel like I can cope snymore with anything