Debt Relief Orders (DROs) are one way to deal with your debts if you owe less than £20,000, don’t have much spare income and don’t own your home.
A DRO freezes debt repayments and interest and charges for 12 months. If your circumstances don’t improve in this time all of the debts included in the DRO are written off.
You must apply for a DRO via an approved organisation. Details of approved organisations are available at www.gov.uk
You’re generally eligible if you meet all of these criteria:
You must follow rules called ‘restrictions’ if you get a DRO.
This means you can’t:
Answer a few questions and get an instant online decision.See if you qualify
Designed to put you back on track
Help if your debts are over £5,000. An IVA can help clear up to 81% of unaffordable debtsMore info
Help if you have debts of £2,000 or more. Reduce monthly paymentsMore info
Help if you have little or no disposable incomeMore info
For those with little spare income and low value assets
Money Helper is an important service set up by the Government. They provide free debt counseling, debt adjustment and credit information.
We specialise in providing and administering Individual Voluntary Arrangement (“IVA”) solutions to individuals based in England, Wales and Northern Ireland. We do not administer Debt Management Plans, Debt Relief Orders, or any other debt solutions.
Sarah North is authorised in the UK to act as Insolvency Practitioner by the Insolvency Practitioners Association
National Debt Advice (UK) is a trading name of Abbotts Insolvency Ltd. Registered Address: Sandfold House, Sandfold Lane, Levenshulme, M19 3BJ. Tel: 01625 801007.
We only provide advice after completing or receiving an initial fact find where the individual(s) concerned meets the criteria for an IVA, therefore, all advice is given in reasonable contemplation of an insolvency appointment.
We are a fully licensed and regulated insolvency practice specialising in the provision of Individual Voluntary Arrangements (IVA’s). In 2020 we helped over 500 people successfully enter an IVA and supported a further 2,700 people by referring them to a fee free or charitable debt advice service provider.
*The amount of debt write off is based on your own personal circumstances.
As of 28th September 2021, 37% of customers are estimated to write off 81% or more of unsecured debts included in the IVA.
nationaldebtadvice.uk is not affiliated with the Charity National Debtline run by The Money Advice Trust (nationaldebtline.org) or Money Helper (formerly The Money Advice Service) which is a free service et up by the Government to help people make the most of their money. If you would like to learn more click here. The Insolvency Service, an independent government agency, provides guidance on dealing with your debts. To access this guidance please click here.