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Debt Relief Orders - consultation launched

Minkym00 Posts: 790 Forumite

13 January 2021 at 2:35PM in Bankruptcy & living with it

A consultation has been launched today to change the eligibility criteria for a DRO. The proposal is to set new financial limits that would:

Increase the total amount of debt allowable to £30,000 (from £20,000);
Increase the value of assets owned by the individual to £2,000 (from £1000). We are not proposing to change the items excluded from this calculation nor make any change to the £1,000 limit on the value of a domestic motor vehicle; and
Increase the level of surplus income to £100 (from £50) per month.

The government wants to hear from as many people as possible about these plans to help people in problem debt, so please see link here to give your views:
https://www.gov.uk/government/consultations/debt-relief-orders

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Debt Relief Orders - consultation launched

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