Debt relief order
A debt relief order is a simple and straightforward debt solution which enables you to write off your debts where you owe less than £15,000 and you have low disposable income and little or no assets.
This is a quicker and cheaper alternative to bankruptcy and has been created as a legal debt solution to simplify the process for people with limited financial means.
For free advice on debt relief orders call us now on 0800 007 5021
How do I qualify for a debt relief order?
To qualify for a debt relief order you must first of all be unable to pay your debts as well as meet the following criteria:
- You must live in England or Wales or carried out a business there in the last three years
- Your unsecured debts must be no more than £15,000
- The total value of your assets needs to be less than £300
- You should have no more than £50 of disposable income
- You must not have applied for a debt relief order in the last six years or be currently part of another insolvency procedure