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

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.

Pros & Cons of a 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 online form and speak to one of our friendly advisors to see if you qualify for a DRO

Quick Chat

If this is the right solution for you we can point you in the right direction

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!

Free Debt Advice

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

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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.

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.

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.

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.