How do I qualify for a debt relief order?
How to get a debt relief order
- Step 1: find a DRO adviser. You can only apply for a DRO through a specialist DRO adviser, also called an approved intermediary.
- Step 2: work with the DRO adviser to make your application.
- Step 3: pay the fee.
- Step 4: the official receiver makes a decision.
How does a debt relief order work?
A debt relief order (DRO) is a way to have your debts written off if you have a relatively low level of debt and have few assets. If you qualify, our specialist DRO team can apply to the Insolvency Service for you. A DRO freezes your debt repayments and interest for 12 months.
What debts can be included in a debt relief order?
Debts that can go into a DRO are called qualifying debts. They include: credit cards, overdrafts and loans. arrears with rent, utility bills, telephone bills, council tax and income tax.
How long does a debt relief order take to process?
How long does the process take? Once a Debt Relief Order is made, it will take 12 months to process this and you are entered into a period of time called the moratorium. This sounds serious but it simply means certain restrictions are now placed upon you, while the Debt Relief Order is being processed.