A Debt Relief Order, or DRO is a form of Insolvency for people who don’t see a way out of debt, but who have relatively low debt and asset amounts. This solution is sometimes referred to as mini Bankruptcy as there are many similarities between the two options.
A Debt Relief Order is typically over a period of one year, after which the remaining debt is written off by creditors. Similarly to Bankruptcy, creditors are unable to take action against you, add anything to the debt amount or contact you during the Ordered term, usually 12 months.
Debt Relief Orders are much cheaper than most other options, as they cost one amount of £90 (including VAT).
As insolvency, a DRO is subject to approval and there are some strict limits on who is eligible.
Criteria for England and Wales
Criteria for Northern Ireland
For more Advantages and Disadvantages of a DRO, click here
If you are considering a Debt Relief Order or any other form of Insolvency or Debt Solution then we are here to help. For further information or just some friendly help call either 08009 247 244 or 01482 247 999. We have also provided a link to the Insolvency Service Site – here.
Subject to eligibility and acceptance. Conditions apply. Debt write off applies only on completion of a DRO (Debt Relief Order) alternative Debt Solutions may be offered. Each DRO (Debt Relief Order) application is assessed on an individual basis, once the preliminary work is carried out the case is passed to an Insolvency Practitioner at one the companies on our panel to administer. No advice is provided by Fresh Start UK. Fees payable for continuing services. Your ability to obtain credit will be affected for 6 years. Calls may be recorded.