I have just completed a 12 month DRO.

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by dan470 » Mon Oct 09, 2017 10:31 am
I have just completed a 12 month DRO.
I have just finished my moratorium period on 12th Sept and I was wondering what the situation was regarding getting a small credit card just to build my credit rating back up. What is the procedure for this? Am I allowed to? I know there was a limit of £500 credit before I had to inform creditors but not sure whether that was during my 12 month moratorium period or after it, How long does a DRO stay with me? Also, if a form says "have I had an IVA or CCJ" do i say yes or no with a DRO?
Thanks in advance.
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Forum Expert
Posts: 26908
by Foggy » Mon Oct 09, 2017 3:18 pm
I do not know about post DRO procedure -- perhaps an Industry Expert can shed some light on this for us.

Regarding "that" question: It is usually phrased as "Have you ever entered a debt solution or made any arrangement with creditors?", rather than being specific --- but, if the ask "IVA", "CCJ" then you can honestly say no.
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Lisa Thomas
Industry Expert
Posts: 6869
by Lisa Thomas » Mon Oct 09, 2017 3:50 pm
You can try and apply but it stays on your credit record for 6 years so you may have to wait 5 years before you can begin to clean it up again.

See last line here:

https://www.gov.uk/options-for-paying-o ... ief-orders
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