DRO on the horizon

[kilasuit]

I have been advised by CAB that a DRO is likely best course of action for myself.

Just wondering how many others have had one or know of people that have had one?

[oscar]

Re: DRO on the horizon

DRO can be extremely harsh.

Might be ideal at present, but if you take a course of action against your employer as per your other thread, then any payout could potentially go straight to your creditors on the basis that your income would far exceed to limits set within a DRO (which I think, IIRC is circa £50 after all bills / living costs).

[kilasuit]

Re: DRO on the horizon

Any reason why you wouldn't consider UE?

inability to be UE on all accounts.

All are 2008/09/10.

remember im only a youngin

[oscar]

Re: DRO on the horizon

DRO then MIGHT be a good way to go. Suppose it depends on what your income is lilkely to be in the next 12 months.

If you can see yourself being on JSA for 12 months, then ( if it were my circumstances) I would probably think it was a good idea. If there is a £25,000 job, just around the corner, or as above, any form of settlement, then probably not.

We do have a couple of DRO experts on here, so I would await their views.

[kilasuit]

Re: DRO on the horizon

thing is since dec 2010 i havent really had a disposeable income as i always worked silly hours to keep upto date with everything.

so im thinking if i did get my job back & some compo then i may still qualify as things stand

Alot of workings out to do on my part to work it out realistically.

[kilasuit]

Re: DRO on the horizon

i have been reading up further on DRO but one question has eluded me.

I currently do all my banking with HSBC but have a £500 o/d that will be included in DRO as well as a Halifax reward account with £100 o/d

I would like to keep HSBC if i'm honest as i know my way around everything over there.

But i'm thinkin i'll need to get a new account elsewhere so i was wondering what you all thought to a new bank account most likely gonna have to be a basic account.

Also i've had a Lloyds account that was closed by them (O/d charges issues)
Also had Barclays and Santander accounts that i've closed

any thoughts??

[BBoo]

Re: DRO on the horizon

I think you'll find very different views on here, based on people's personal experiences. We've nothing but praise for the Coop, but I also have Nat West and Barclays who have never caused problems.

[pompeyfaith]

Re: DRO on the horizon

The Co-op is going into the law sector on the high street that should be interesting

Santander is Spanish so I would hold of with them for the time being as it looks like they will be needing a bail out and it would not surprise me if they had a sell off here.

[kilasuit]

Re: DRO on the horizon

Natpest is open gonna open a barclays and co-op too

Rather have some parachute accounts ready incase anything else happens in future

[BBoo]

Re: DRO on the horizon

Natpest is open gonna open a barclays and co-op too

Rather have some parachute accounts ready incase anything else happens in future

Can I suggest you open both, but only use one, don't pay one penny into the other. Why? Because then they won't pick up on it on entering a DRO, and you won't get into trouble for forgetting to tell them as you never use it.

[kilasuit]

Re: DRO on the horizon

well i've got barclays natwest and co-op open

all basic accounts

dimwit at barclays when i asked for their basic account ran a current account application.

Sorting out DRO in next 2 weeks hopefully

[kilasuit]

Re: DRO on the horizon

IN regards to this i have emailed all CEO's of the companies i'm in debt with at present notifing them of current situation and to contact the relevent teams in regards to collection activities.

Had 5 read receipts and 1 email saying that info has been forwarded to relevent team.

Small step in right direction

[kilasuit]

Re: DRO on the horizon

More replies and quickquid being assholes so i have sent a rather snotty email revoking their right to hold my telephone number

I intend to when i receive a response from all to upload for all to see.

[kilasuit]

Re: DRO on the horizon

hbos have said intend to write off o/d and 6 month hold on all actions (interest, charges and phonecalls too)

Sygma are conducting an ivestigation into whether the can allow a period of non payment for 6 months

[kilasuit]

Re: DRO on the horizon

If i get a DRO whats the complications of ET adn/or settlements etc?


Anyone know at all?