A debt relief order (DRO) was introduced on the 6th April 2009, it is aimed at people who do not qualify for an IVA or other debt solutions. A DRO must be administered by the Official Receiver or an authorised intermediary.
A DRO will usually last for 12 months, during this period you won't need to make any payments towards the debts listed in the order. The creditors of these debts won't be able to take any action against debtor.
To Qualify for a DRO – Debt Relief Order
- You must be unable to pay your debts
- Unsecured debt does not exceed £15,000
- Total gross assets must not exceed £300
- You must not be involved in any other formal insolvency procedure
- Your disposable income, following deduction of normal household expenses, must not exceed £50 per month
For more information please go to the DRO FAQ's page or call our specialist debt team on
08000 915 004 to find out how we could help you.