An Administration Order is a court order which covers your debts. You make a monthly payment to the court which they use to distribute to your creditors on a Pro-Rata basis. The court will take 10% of the monthly payment as a fee for administering the court order.
Whilst you are in an Administration Order, the creditors involved cannot harass you for the payments. Any debt collection agencies and/or letters against you will be stopped.
Applying for an Adminstration Order
In order to apply for an Adminstration Order you must have atleast one County Court Judgement issued against you and atleast 2 creditors. For an Administration Order your debts cannot be more than £5000.
You must complete an N92 form which you can get from your local court office or online on the Courts Service Website. There is no application fee for an Administration Order.
Payments of an Administration Order
Once your Administration Order is in place, you must keep up with your agreed payments. If you do not maintain them your Administration Order can be revoked. If you are having difficulty maintaining your payments into the Administration Order you can ask the court to review the order and reduce the payments.
Completion or an Administration Order
When you have completed your Administration Order you can obtain and pay for a "Certificate of Satisfaction" from the court which costs £15.
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