Debt Relief Orders DRO’s became a solution to debt problems in April 2009.

Firstly you will need to seek financial advice from a debt advisor, and if a Debt Relief Order DRO appears to be appropriate solution, an approved intermediary will be able to help you complete the online application. The intermediary may be the same person from whom advice was originally sought, or you may be referred to a further advisor once it is considered that a DRO is the appropriate solution. The approved intermediary will assist with your application for a Debt Relief Order DRO to the Insolvency Service. This will be at a cost of £90 and is done via the internet with an online form. 

The solution is administered by the Official Receiver. 

The waiting times vary from place to place, if you have your creditors harassing you, this can sometimes be very frustrating.

To be Eligible for a Debt Relief Order DRO

You must be able to demonstrate:

• You are unable to pay your debts:
• You do not have unsecured liabilities exceeding £15,000:
• You must be domiciled in England or Wales, or in the last 3 years have been resident or carrying on business in England or Wales

You will not qualify for Debt Relief Order DRO if:

• You own a vehicle worth more than £1,000
• You own items to the value of over £300
• You have saving of £300 or more
• You have a private pension worth over £300
• You have gross assets exceeding £300
• You are currently bankrupt
• You are in or applying for an IVA
• You have a Bankruptcy Order
• You have been involved in a Debt Relief Order DRO in the last 6 years
• You have been given a debt relief restriction order or undertaking
• You own your own property. it will not make much difference that you have a mortgage on the property
• You have more than £50 per month spare after all your everyday need are paid for

 Remember you cannot apply for a DRO without the assistance of an intermediary.