A Debt Relief Order (DRO) is an option for dealing with debts for individuals who:
- Owe an amount of £20,000 or below; and
- Do not own their own home;
- Do not have a financial interest in any other property or assets.
To obtain a DRO an application must be made, and a fee paid to the Official Receiver. It is important to note that even if a DRO is approved, not all debts are covered.
To find out more or to discuss if you may be eligible for an application for a DRO or a debt write off, please contact us for a free and confidential initial consultation.