Debt Relief Order in UK

1
Debt Relief Orders in UK by money advice service

• Call 03338803165

2
What is a Debt Relief Order (DRO)?

• A debt relief order is a quicker, simplified
  approach to deal with all the debts if you've
  very low debt only have a few properties and
  assets. And when you qualify for the Debt Relief
  Order, the DRO specialist team will help you to
  get the best Insolvency Service at convenience.
  Debt relief orders aren't accessible if you stay
  in Scotland.
•  

3
Adout

•  
• Well, DROs can be available in England, Wales and
  Northern Ireland and surrounding places in the
  UK.
•  
• When a debtor opts for the DRO, it freezes all
  the debt relief order in uk i repayments as well
  as interest for at least 1 year. And, if your
  financial condition has not improved at the end
  of this time, then all of the debts will be
  written off. Always get in touch with an approved
  organization, since they can help you apply for
  the DRO if you are eligible.
•  
• But, this is also true that DRO will always be
  shown on a public register will potentially
  pose an impact on the credit report negatively.

4
Benefits of a Debt Relief Order

• A DRO can be a budget-friendly alternative to
  bankruptcy
• Debtors do not pay anything towards their debts
  for 1 year. Thereafter, they will be
  automatically written off.
• The lenders can not pursue you for your debts
  during the 1 year period
• Although a Debt Relief Order is a formal
  solution, debtor do not need to appear in court

5
Risks of a Debt Relief Order

• A Debt Relief Order can be only available if a
  debtor owe less than 30,000 and stay in Wales,
  England, or Northern Ireland
• People will be required to pay the Insolvency
  Service a one go, non-refundable charge of 90.
  If people qualify, the professional team will
  help you apply
• People cannot apply if they are a homeowner
• A Debt Relief Order UK will appear on a public
  register will pose impact on the your credit
  score negatively
•  

6
How to apply for debt relief order

• Here are the steps that need to be followed in
  order to apply for a debt relief order! So
  without much delay, let's check out the process
  
•  
• The very first thing is to check if you qualify
  for a debt relief order, if it can be the best
  solution for you.
• If a debt relief order is the most suitable
  solution to your debt oriented issue, the debt
  relief order provider will send you the required
  forms help you to apply. People will require to
  finish all these forms then return them to the
  professional DRO team
• The professional DRO team will prepare your
  application. And before submitting the form,
  there can be a 90 charge that needs to be paid
  to the Insolvency Service in full or, if you live
  in Wales or England you can pay in installments.

7
About

• And when all the changes have been paid, the
  professionals can submit your application.
•  
• So, when you have provided the relevant data to
  the Debt Relief Order approved intermediary,
  paid the 90 charge, the intermediary will submit
  the Debt Relief Order application to the
  Insolvency Service. And they will make a decision
  on the application within 1 to 2 weeks.
•  
•  
• Well, the majority of the debts are involved in a
  Debt Relief Order. This incorporates council tax,
  household utility bills, as well as consumer debt
  like store cards, credit cards. Moreover, certain
  debts are named as excluded debts. And it means
  they aren't involved in the Debt Relief Order.
  And the most popular excluded debts are
•  

8

• Child maintenance
• Criminal fines
• Loans from the DWP Social Fund, such as budgeting
  loans
• TV license arrears
• Debts that have been taken out fraudulently,
  including benefit overpayments that have happened
  as a result of fraud
•  
• So, it is pretty essential that you are
  completely aware about how to apply for a debt
  relief order how the DRO can affect your
  lifestyle. For further information, keep tuned
  with us! On the other hand, you can also give us
  a ring or send us a mail at our official mail ID!
•  
•  
•  

9
get in touch with us

• Website https//moneyadviceservice.net/debt-reli
  ef-orders-in-uk/
• Call 03338803165

10
(No Transcript)