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A Debt Relief Order. You Can Be Debt Free in 12 months

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What is Debt Relief Order?

A Debt Relief Order (DRO) is an agreement designed to help people who can’t afford to repay their debts, have a debt level of £30,000 or less and don’t own their home. It is set up through an approved DRO advisor and is administered by they insolvency service. A DRO costs £90 to set up. This amount is paid directly to the Insolvency Service The £90 payment doesn’t have to be made all at once – but your application won’t be progressed until it’s paid in full.

Do I qualify?

Pros & Cons of Debt Relief Order

PROS

  • Legally binding agreement
  • Usually debt free in 12 months
  • All unaffordable debt written off
  • Gives legal protection from creditors
  • Gives you breathing space to deal with the debts

CONS

  • Unsuitable for homeowners
  • Will impact your credit rating
  • You cannot be a director of a limited company.
  • A DRO is entered on a public register
  • You cannot have a DRO if you have an existing bankruptcy order, an IVA, are subject to bankruptcy restrictions, or you have had a DRO in the last 6 years.
  • You cannot obtain credit of more than £500 without disclosing that you are subject to a DRO.

How does Debt Relief Order work?

See if You Qualify

Complete our 30 second online form to see if you qualify, or you can call us directly on 01565 325 030

Quick Chat

If this is the right solution for you, we can start the ball rolling whenever you’re ready. We will help along the way until you become debt free!

Your Choice

If an Debt Relief Order is the best solution for you, we can start the ball rolling whenever you’re ready. We will help along the way until you become debt free!

Do I qualify?

NOT SURE WHERE TO BEGIN?

No worries, we’ll help you make sense of it all.

Apply now

Be part of the success

(Here are some hypothetical examples of how an IVA could work)

Jenny W
£9000 in Debt
  • Credit cards
  • Loans
  • Council Tax
Old payment pm
NEW PAYMENT

Per Month
John H
£16000 in Debt
  • Finance
  • Loans
  • Overdrafts
Old payment pm
NEW PAYMENT

Per Month
Catherine H
£13000 in Debt
  • HMRC
  • Payday Loans
  • Credit Cards
Old payment pm
NEW PAYMENT

Per Month

May not be suitable in all circumstances. Fees may apply, Entering into an IVA will affect your credit rating, Any potential disadvantages of entering into an IVA will be explained on application. A debt write off amount of between 25% and 75% is realistic, however, the debt write off amount for each customer differs depending upon their individual financial circumstances and is subject to the approval of their creditors.

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Just Some Of The Creditors We Could Help You With

Free Debt Advice

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IVA?

A solution for people with debts over £5,000. An IVA could help you write-off up to 90%* of your outstanding debts and pay one affordable monthly payment.

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Debt management

A Debt Management Plan or DMP, is an informal agreement to pay back non-priority debts, reducing your monthly payments to a single affordable amount each month.

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Bankruptcy

Bankruptcy is a formal debt solution for people with debts they cannot repay. It’s often viewed as a last resort but can be a great solution for people without the means to repay debts.

Find out more