Debt Relief Order
What’s a Debt Relief Order?
Struggling to make ends meet and stuck in an unmanageable debt cycle? A Debt Relief Order (DRO) may be a solution for you. It offers those with very low income the possibility of having their debts frozen for 12 months, instantly relieving financial pressure from creditors who can no longer add interest or demand repayments during that period.
Furthermore, if at the end of this duration your circumstances remain unchanged then all remaining debt is written off – potentially giving you the fresh start financially which you need!
To qualify, non-homeowners must have assets valued below £2k so they are not taken to cover repayment costs; while also leaving them with only up to £75 per month once essential expenditure has been covered. If these requirements fit your current situation, then take advantage by exploring DROs today!
Can all debts be included in a Debt Relief Order?
No, not all debts can be included in a Debt Relief Order. Below is a list of creditors that can be included.
Debts that can’t be included in a Debt Relief Order?
Advantages of a Debt Relief Order
Before applying for a DRO, it’s important to weigh all the benefits. Careful consideration of these advantages could make this decision easier and more impactful:
Disadvantages of a Debt Relief Order
Why choose Advice Debt?
We can help you, today.
We all know how difficult it can be to manage our finances when we’re juggling debt and an ever-changing financial situation. That’s why we are here for you today offering expert advice that will put your mind at ease! We’ll work with what matters most, getting out from under the load of persistent debts so they don’t continue weighing down on every aspect of life.
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Is a Debt Relief Order right for you?
We can discuss your eligibility.
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