Young families running into debts rely on Debt Relief Orders (DRO). How a Debt Relief Order works. Who can qualify?
Demand for Debt Relief Orders (DROs) in Northern Ireland was more than double the UK average during the first month of their availability in the region according to CCCS
Debt Relief Orders have now been introduced to Northern Ireland, giving some struggling borrowers a new solution with which to tackle their debt problems.
A change to insolvency legislation will expand access to the Debt Relief Order regime to those with an approved pension, the government has announced.
You can keep all your reasonable possessions if you start a Debt Relief Order. What is reasonable? What about your car? What if you are a home owner?
If your finances improve during a DRO Debt Relief Order it could fail. What happens if disposable income goes above £50? What income is included in a DRO?
You credit rating will be affected if you start a DRO. How long will it be effected? What credit can be used during a DRO? Can you get a mortgage after a DRO?
A guide to the living expenses allowed if you are starting a Debt Relief Order. Get a copy of our comprehensive living expenses guide.
The government has announced plans to make it easier for people in financial difficulty write off their debts using a Debt Relief Order (DRO).