What is a Debt Relief Order?
A Debt Relief Order is a way to have unmanageable debt written off if a person has relatively low income and few assets. A debt relief order (DRO) is one of the debt management options available to you if you are under a total debt of £20,000 or less, your disposable income is low, and you do not own your house.
If you get one:
Please Note: By entering a DRO, you will be entered onto a public register.
The Pros of a DRO
The Cons of a DRO
How do I apply for a Debt Relief Order?
A Debt Relief Order application can take place through an approved person known as an intermediary. It costs £90 to arrange a Debt Relief Order which can be paid for in instalments over a period of six months. You need to pay the fee in full before your application will be looked at.
Once you have applied and paid the fee, an Official Receiver will grant the Debt Relief Order if you are eligible.