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A Debt Relief Order (Also known as a DRO) is a formal debt solution or Insolvency solution that is suitable if you unable to repay your debts, on a low income and have little to no assets.
The criteria for a DRO is dependent on what region you live in.
In England & Wales, you can do a DRO with total debts up to £50,000 and you can have assets up to the value of £2,000. You can also have a car or vehicle up to the value of £4,000. You can have a disposable income of no more than £75 per month. Disposable income is the amount of income you have left over each month, after paying all household bills and expenses.
You can do a DRO in Northern Ireland, but the criteria is slightly different, It is suitable for people with debts up to £20,000 and little or no assets (up to the value of £1,000) with a disposable income of no more than £50 per month. You can have a vehicle up to the value of £2,000.
PLEASE NOTE: DRO Criteria is changing for Northern Ireland on 8th July 2024.
A DRO is sometimes referred to as a form of mini-bankruptcy. In a DRO you state your inability to pay your debts. After 12 months, any debt included in your Debt Relief Order will be written off.
Application for a DRO is completely free.
To apply for a Debt Relief Order you will need to identify if you meet the conditions that apply. We can help you find out if it is a suitable option for you. If a DRO is suitable, we will refer you to an approved intermediary who handles these solutions (such as the CAB or Step Change). The approved intermediary is someone who is approved by a competent authority for handling these solutions. They will check that you fulfill the relevant criteria and help you complete the relevant forms necessary for applying for a DRO.
Below are a few of the frequently asked questions we are asked in relation to Debt Relief Orders. If you have any questions please feel free to get in touch and we will find the answers you need.
Only certain debts can be included in a Debt Relief Order
If you have a hire purchase or conditional agreement you may have to return the goods bought with these loans, unless someone else can pay the instalments. You will not be able to carry on paying for the goods once you have a debt relief order.
Certain types of debt can't be included in a debt relief order. You must pay these separately as action can still be taken against you. These include:
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