Debt Relief Order
A Debt Relief Order (DRO) are a formal insolvency process that can help you deal with your debts if you owe less than £20,000, don’t own your home and have little spare income.
DROs are an alternative debt solution to bankruptcy and usually last one year (12 months). Once you are in a DRO creditors are unable to recover their money without permission from the courts.
Once discharged from your DRO, all of the debts listed in your DRO will be cleared.
Disadvantages of a DRO
Advantages of a DRO
Is a DRO right for me?
How do I apply for a DRO?
An application must be made to the Official Receiver’s office through an authorised intermediary. The Official Receiver’s fee is £90. Intermediaries are not allowed to charge you a fee for submitting your DRO application to the Insolvency Service.