What is a Debt Relief Order? Do I qualify for a DRO?

13,653 people were being made bankrupt, between July and September 2010*.  The UK Government needed to find a solution which allowed debtors to repay their debt without the need to file for bankruptcy, as a result the UK Government introduced a Debt Relier Order. A Debt Relief Order or DRO is a simplified, quicker and cheaper alternative to bankruptcy which was introduced in the UK in April 2009. We should advise that there is no official scheme called a 'debt settlement order'.

Who will benefit from a Debt Relief Order?

Debt Relief Orders are aimed at debtors with low incomes and little assets to file for bankruptcy without the associated costs.

What Debts can I include in a Debt Relief Order?

The following debts can be included in a Debt Relief Order

• Unsecured Loans
• Credit cards
• Store cards
• Catalogue debt
• Overdrafts

What are the benefits of a Debt Relief Order?

Debt Relief Orders will last for 12 months and you'll be:

• Protected by enforcement action from many of your creditors.
• Obliged co-operate with the Official Receiver.
• Expected to repay your creditors if your circumstances improve.

How do I apply for a Debt Relief Order?

Debt Relief Orders can be applied for online from a debt solution company. Before applying for a Debt relief Order speak to a debt advisor from Debt Advisory Line who will assess your financial situation and recommend a suitable debt solution.

Debt Relief Orders are not suitable for everyone, speak to a debt advisor now or complete the form for expert advice or view the following sections of Debt Advisory Line for more information on other debt solutions

• Debt Management
• Individual Voluntary Arrangements
• Trust Deeds
• Bankruptcy
• Debt Relief Order

Get Online Debt Relief Order Advice By Completing our Debt Relief Order Advice Form Now!

Debt Relief Orders are not suitable for everyone; at Debt Advisory Line we provide information about Debt Relief Orders. We also provide useful debt solutions should you not qualify for a Debt Relief Order.

*source Credit Acion