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A Debt Relief Order may write off eligible debts after 12 months

May not be suitable in all circumstances. Fees apply. Your credit rating may be affectedMay not be suitable in all circumstances. Fees apply. Your credit rating may be affected

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 £50,000 or less and don’t own their home. It is set up through an approved DRO advisor and is administered by they insolvency service.

May not be suitable in all circumstances. Fees apply. Your credit rating may be affected

Pros & Cons of a Debt Relief Order

Pros

  • Legally binding agreement

  • Eligible debts are usually written off after 12 months; excluded debts remain payable

  • 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?

Get started today

For DRO advice and an eligibility assessment, contact an approved intermediary. Numo does not arrange DROs.

A confidential conversation

You can find free, impartial debt advice through MoneyHelper at www.moneyhelper.org.uk.

Your Choice

An approved intermediary can explain the DRO application process. Only qualifying debts may be written off; excluded debts remain payable.

May not be suitable in all circumstances. Fees apply. Your credit rating may be affected

Talk to Numo

Our team is based in Manchester and is made up of real people

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May not be suitable in all circumstances. Fees apply. Your credit rating may be affected

IVA?

A solution for people with debts over £5,000. An IVA could help you write-off up to 81%* of your outstanding debts and pay one affordable monthly payment.

May not be suitable in all circumstances. Fees apply. Your credit rating may be affected

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.

May not be suitable in all circumstances. Fees apply. Your credit rating may be affected

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.

May not be suitable in all circumstances. Fees apply. Your credit rating may be affected

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 £50,000 or less and don’t own their home.

May not be suitable in all circumstances. Fees apply. Your credit rating may be affected