Is a Debt Relief Order right for me?
Debt Relief Orders from Baines & Ernst are available to people living in England, Wales and Northern Ireland and can provide debt relief if:
- You are unable to pay your debts
- Your total unsecured debts do not exceed £15000
- Your assets do not exceed £300
- Your disposable income is no more than £50 per month
- You are not involved in another formal insolvency procedure or have not been in a DRO in the previous six years
It is important that you find the right solution for your circumstances. You can also view a free publication from The Insolvency Service
‘In Debt? Dealing With Your Creditors’
which provides an overview of some of the debt solutions that may be
Under a Debt Relief Order the following will apply:
The Official Receiver will make an entry on the Electronic Individual Insolvency Register (EIIR) showing your details and the fact
that a DRO has been made against you and will stay on your credit record for 6 years. Your ability to obtain credit will be affected
in the short term and might be affected in the medium to long term.
You may not obtain credit of £500 or more, either alone or jointly with someone else, without telling the lender you are on a DRO.
You cannot trade in a name that is different from the name under which you were granted a DRO, without telling all those with whom
you do business, the name under which you were granted a DRO.
You may not be involved (directly or indirectly) with the promotion, management or formation of a limited company, and may not act as
a company director, without the court's permission.
You will have a duty to inform the official receiver of any change of address and any change in circumstances. You must give the
official receiver any information they ask for.
During the period of the DRO you must carry on paying ongoing commitments, such as rent and utility bills.
What are the benefits of a Debt Relief Order?
Debt Relief Orders
usually last for 12 months and you'll be:
- Protected by enforcement action from many of your creditors.
- Obliged co-operate with the Official Receiver.
- A Debt Relief Order application will only cost you £90.
Baines & Ernst also provide advice and supply many other forms of Debt Management solutions, click on the solution below that you are interested in to find out more information.
To find out if you qualify for a Debt Relief Order, complete the enquiry form and we’ll call you back
Please note that the service provided by Baines & Ernst in relation to a DRO is a free service. A £90 fee will be
charged by the Insolvency Service for your application. This fee is non-refundable.