Debt Relief Order

What is a Debt Relief Order?

A Debt Relief Order is a new form of Bankruptcy that was introduced in 2009 in England and Wales. The purpose of a Debt Relief Order is designed to be a cheaper, simpler and quicker alternative to Bankruptcy; designed for people who have few or no assets (less than £300) and little disposable income (less than £50).

Is a Debt Relief Order suitable for me?

There are some specific criteria for a Debt Relief Order which you can view below.

Criteria for a Debt Relief Order

You are unable to pay your debts.
Your Debts do not exceed £15,000.
Your assets must not exceed £300 (i.e. No homeowners) Cars are negotiable providing it is not of high value or has special requirements fitted.
Your disposable income must not exceed £50 per month.
You must reside in Enlgand or Wales.
You must not have been involved in a Debt Relief Order in the past 6 years.
You cannot have be involved in another Insolvency Procedure at time of application of the Debt Relief Order. i.e...
- An undischarged Bankrupt
- In an IVA
- In a Bankruptcy Restrictions Order
- In a Debt Relief Restictions Order
- In an Interim Order
- Involved in a pending Debtors Petition for Bankruptcy where the court has not referred you to a Debt Relief Order as your most suitable method of Debt Relief
- Involved in a Creditors Petition for Bankruptcy where you have not obtained the creditors permission to enter into the Debt Relief Order

If you require any further information on our debt solutions please do not hesitate to contact us on freephone 0800 043 5133.

Facts about Debt Relief Orders

A Debt Relief Order is a form of Insolvency and will be subject to a public listing through the Insolvency Service website.
Only an approved Intermediary can complete a Debt Relief Order. i.e. The Citizens Advice Bureau.
When the application is being processed the official receiver can process the Debt Relief Order, without involving the court

Debt Solutions

Debt Calculators