What is a Debt Relief Order?
A Debt Relief Order (DRO) is a formal debt solution designed for people with low income, few assets, and relatively low levels of debt. It's often called 'bankruptcy lite' as it provides similar benefits to bankruptcy but with a simpler, less expensive process.
Key Benefits
- Debts written off after 12 months
- No monthly payments required
- Protection from creditors
- Lower cost than bankruptcy
Eligibility Criteria
- Debts under £30,000
- Assets worth less than £2,000
- Less than £75 monthly disposable income
- UK resident for 3+ years
The DRO Process
1
Initial Assessment
We check if you meet the DRO criteria and gather information about your debts, income, and assets.
2
Application Preparation
We help prepare your DRO application with an approved intermediary.
3
Official Receiver Review
The Official Receiver reviews your application and makes a decision.
4
DRO Period
Your DRO lasts for 12 months, during which creditors can't take action against you.
5
Debt Write-Off
After 12 months, included debts are written off and you can make a fresh start.