Debt relief orders are a form of debt relief designed for people who have less than £15,000 worth of debt.
Very few people actually qualify for a debt relief order because they're only available to people who have a disposable income less than £50 per month. People who own any assets, i.e. house, car, property, computer, etc. that are worth more than £300 will not qualify for a debt relief order.
But thankfully there are many other ways to solve a debt problem, and we offer debt relief advice with one of our friendly advisors if we think we can help you.
For more information on debt relief orders please call us on 0800 988 7701 or complete the contact form and we'll call you back.
Who Might Debt Relief Orders Be Suitable For?
Individuals with relatively low liabilities, small surplus income and few or no assets and who are possibly not in a position to pay off their debts in a reasonable time.
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Your total gross assets must not exceed £300; assets including car, etc.
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Your disposable income must not exceed £50 per month.
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You must be unable to pay your debts.
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You can't have more than £15,000 debt.
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You must live in England or Wales, or in the last 3 years have been resident, or carrying on business, in England or Wales.
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You must not have previously been subject to a debt relief order within the last 6 years.
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An undischarged bankrupt.
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A current IVA.
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A current bankruptcy restrictions order or undertaking.
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A current debt relief restrictions order or undertaking.
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An interim order.
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A current pending debtor's bankruptcy petition.
If you are unsure whether a debt relief order is for you call our free help line on 0800 988 7701 or use our contact form.
