Debt Relief Order

A question about : Debt Relief Order

Hi All

I got my experian credit report recently, it said I owed around 12k in total, but was missing some debt's i expected to be on there.

It had my main debts to santander, nationwide, wonga, and two other smaller debts on there.

However I know for a fact I owe money to 2 more payday loan firms ( though they were very spurious companies, not sure if they still exist ) and I owe money to two gambling agencies who gave me massive credit when I was an addict, and im sure a couple of other debt's may be missing.

I understand that experian credit report's do not necesseraily maintain all of your debt's within them - but how the hell am i supposed to know if i qualify for a DRO? ( Under Ј15k in debt ) How the hell is the court supposed to know if i qualify?

I hear that if you get all 3 credit report's from each company - you still may not have all your debtors on there. How the hell am I meant to know what do??

I am so lost

Best answers:

• Have you tried the other CRA's?
  I have these on a rejection leaflet
  Call Credit PLC
  Equifax
  Otherwise a way to jog the memory is checking old bank statements and logging on to perhaps old email accounts, that's what I'd do first
• What if i apply for a DRO, and one of my debtors hasnt registered on the CRA'S? The people in charge of my DRO would have no way of knowing if they had included all my debts or not?
  Think i might just go bankrupt at least i know its all clean then
• It's simply a risk you take - I don't know how it's played, had a Vanquis debt I declared that doesn't show on my file but I know I am protected from if they should chase and that is why I would try to find out beyond the file who was owed - my outcome has significantly worsen since the moratorium period was finished even I cannot get any answers!
  So you have to learn to live with the frustration I'm afraid, nearly 3 years on a DRO the IS recently wrote and pretty much said the following which is meant to be a comfort! As they don't provide completion " any of the qualifying debts scheduled in your debt relief order if incurred as a result of fraud or fraudulent breach of trust to which you were a party, then any such liability would not be discharged at the end of your moratorium period" the end being that if there are further concerns "I should seek independent legal advice or financial advice"
  Either road what I'm trying to get at is you are making a sworn statement as part of your application and can I recommend you keep all receipts and paperwork, it seems DRO's are really harder to prove finished so perhaps that explains the above who knows
  Talk to Step change tomorrow and follow their advice as I'm afraid I didn't forget who I owed and that still hasn't helped x
• If you can manage the bankruptcy fees, then bankruptcy might be a better option as with that all your debts are wiped out out even if you don't list them. If you qualify for a DRO because of low income, then you won't be likely to have to make monthly payments in bankruptcy.
• I'd caution that you need to be careful to list all debts with up to date balances. My reason is that all creditors need to be seen as being treated equally and fairly.
  Obviously mistakes happen, but really worth going through your paperwork carefully and getting the figures right.The balances reported t the CRA may be rather out of date (I know in the months leading to my IVA many hundreds of pounds of fees where added by lenders for defaults, over limit, failed direct debit etc)
  Martin