Would a debt relief order be any benefit to me?

slugger09

I've only just heard about this, I believe it comes into effect over here in N.I in June, at the min I have debts less that £15K, no assets, my left over each month of £50 goes to Payplan to clear my debts, I've been with Payplan now for 3 or 4 years and to be honest I am not getting anywhere very fast.

fermi

Looks like June

http://www.advice4debtni.com/news/2011/jan/28/commencement-date-for-debt-relief-orders-in-northern-ireland-agreed

DROs are aimed at people with no assets and a low income with no other access to debt relief and no prospect of the situation improving. If people do have assets or there is a possibility of an improvement in financial circumstances, a DRO is not an appropriate solution and other debt remedies are available.

If you feel your current situation would lead to you being a candidate for a DRO later in the year, or if you require free, independent advice on whether this would be an option suitable to you – call advice4debtNI free and in confidence on 0800 917 4607.

slugger09

fermi wrote: »

Looks like June

http://www.advice4debtni.com/news/2011/jan/28/commencement-date-for-debt-relief-orders-in-northern-ireland-agreed

This sounds ideal for me, things have been this way for quite some time so unless I win the lotto there is not much chance of things changing.

Does you name appear in the paper like bankruptcy?

Tixy

It will be displayed on the insolvency register (searchable online) but I don't think bankruptcies or DROs appear in a local paper anymore (usually). I would guess it would be the same in NI.

insideinfo

The Insolvency Service do not pay for notices in papers for domestic bankruptcies or DRO's, if you are at all worried, pop into the news agent and scan the notices columns to look for Legal Notices, you won't find any and hopefully curiosity will put this matter to rest for you. Take care and good luck with the DRO!