Debt Relief Orders - consultation launched

Minkym00

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   

1977dave

I hope they bring in these changes, I think it'll help a lot more people whether they own their own home or not who don't currently qualify and are considering having to go for bankruptcy as they're above the 20k debt which is a much harsher solution
I'm going to respond as anything that helps can only be a good thing, thankfully my DRO ends in 11 days...not that I'm counting!

liggerz87

Thank you i emailed them