A Debt Relief Order or DRO is a debt solution that allows you to have your unaffordable debts written off up, providing you owe less than £30,000 (£20,000 in NI) with only a few assets totalling no more than £2,000 (£1,000 in NI) and also a car valued at no more than £2,000 (£1,000 in NI).
If a Debt Relief Order is considered suitable, you will be referred to an approved intermediary*. They will check that your situation fulfils the Debt Relief Order criteria and will help you complete the online form. They will submit it on your behalf to a government official called the official receiver. The official receiver then makes the order, if appropriate.
*An approved intermediary is someone who has been approved by a competent authority chosen by the government.
A Debt Relief Order will last for 1 year, and once it has ended you are released from your debts (with certain exceptions).
" From start to finish they have been upfront and honest. They have helped me put my life back on track, thanks guys :-) "
Work out what your new monthly debt repayment could be by filling in our debt and budget calculator form.
A couple were jointly paying creditors over £700 per month. We were able to have this payment reduced to £300 per month, with all interest and charges frozen. After 8 months of paying this reduced sum, they proposed to remortgage their home. This was successful and they released £19,000. Their creditors accepted this as a full and final settlement of their debts.
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