DRO - had anyone had one?

[Jomummy1013]

Hi all. As title says really. Had my Dro approved today, following awful debt building up after my divorce - not my fault! Well partly my fault but not all. I know I'm screwed for a year for credit but what about after, during the 5 year period? Know it'll be limited - if at all x

Glad it's a DRO.

Way too many people are led up the garden path with IVAs that do far more for the adviser than the person in debt.

I've had one. Year completed this June.
I havent applied for any credit though so can't comment on that.
The way my debt advisor put it, my credit rating would be screwed for the next 5 years anyway & on my now single income I'd still be in debt. I've kept my phone contract, sky etc
I privately rent & doubt I'll ever get a mortgage anyway, DRO or not.

I had to wait until it dropped off my file completely before I could start improving mine. However if you had no chance of repaying the debt anyway it makes it no worse. Hope you're ok, I remember the day mine was approved it felt like I could breathe again x

Thank you all.
Yup had no chance of paying the debt off. So I really am in no worse situation than what I was. I couldn't get any credit for love nor money. I tried a DMP which worked for a while until my finances got worse and I couldn't afford the payments.
I am a single mum with three kids and a job and it's hard 😢
I thought about an IVA but the DRO was best for me.
It's a weird feeling to know I am debt free now! ❤️

I don't have a DRO but I went bankrupt 11 years ago. Different rules but I had a year before being discharged, then it came off my credit record after 6 years. I was able to get a credit card after about 18m - admittedly with Aqua which has high APR but I just used it for normal expenses and paid off in full to rebuild my credit. I still have the Aqua card and a Marbles and Virgin credit card now - still just using them to build credit and paying off in full monthly.

I kept my mobile phone contract and normal utilities arrangements (I was never in debt to any of them).

I could use a basic bank account the whole time which had all the functionality of a normal current account, debit card, online banking. I got a normal account after 8 years but might have been able to get one sooner - just had no motivation to as the basic one met my needs (except not having a cheque book which I've had to use a couple of times since then).

Last year (so 10 years after BR) I was able to get a personal loan for £20k. I'd tried a few times over the years and this was the first time I'd been successful, even after the BR was no longer on my records. I've not attempted to get a mortgage.