Debt Relief Order (DRO)

The alternative to bankruptcy

A Debt Relief Order (DRO) is an alternative to bankruptcy which was introduced in April 2009 to allow people with a low level of debt, with no assets and a low income to avoid going bankrupt.

A very strict criteria has been laid down to qualify for a DRO and are as follows:

  • £30,000 or less debt.
  • Less than £75 Disposable Income
  • Assets under £2,000

You will remain in the DRO for a period of twelve months and once discharged all of your outstanding debt will be cleared. However, should your circumstances improve in 12 months or your position is above that stated the DRO will be cancelled.

Get in touch

Call us direct on 01257 257030 and ask to speak to a specialist