Debt Relief Orders

Debt Relief Orders were introduced in 2009 to provide a more straightforward alternative to bankruptcy for those with relatively low debt levels and little ability to make payments towards the debts.

To qualify an individual’s debts in total must be less than £15000. An assessment of their circumstances must demonstrate that they are not in a position to pay more than £50 per month towards the debts. The value of their assets must be below £300 (though a car valued up to £1000 is acceptable) and they cannot be a homeowner.

The fee for a Debt Relief Order is £90 compared to a £600 fee for bankruptcy.

Your debts will be frozen for a period of one year during which no further interest will be added. After the year has ended, and assuming you are still not in a position to repay the debts within a reasonable timeframe, they will be written off entirely.

To get the process underway you will need to contact an approved Debt Relief Order intermediary. We would suggest that you contact your local Citizens Advice Bureau who may be able to act for you or who otherwise will be able to direct you towards local help.

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