Debt Relief Orders

annieadvisor

Hello everyone

Just wanted to raise a few news items for those of you who may be struggling with debts. Since the beginning of April there is new legislation (full details available at www.insolvency.org.uk) called a Debt Relief Order available as a mini alternative to bankruptcy. It looks great on the surface as you can have your debts up to £15k dealt with for a one off payment of £90 but you must have advice and go through an intermediary (most of us debt specialist advisors at CAB and other agencies are now authorised to put you forward). You will be expected to have little or no assets and to have a full credit reference file searched before you can apply.

Can I just bring to everyones attention that the three credit reference agencies will give you a report for free as long as you are authorising CAB or other money advice agencies for the purpose of applying for the new Debt Relief Order

Thanks everyone :T

fermi

Should just point out that there is a sticky thread regarding DROs on the Debt-Free Wannabe board here:

Link: Debt Relief Orders (DROs)

Also on the Bankruptcy & Living With It board here: Debt Relief Orders

As always, seek professional, free and independent advice if you have serious debt problems.

See the: Non-profit Debt Counsellors' List