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i This solution is only available in England, Wales and Northern Ireland.

What is a DRO

How assets affect a DRO

A debt relief order (DRO) is designed for people with few assets. An asset is something of value you own that can be sold to raise money.

If you live in England, Wales or Northern Ireland, and your assets total more than £1,000 you cannot apply for a debt relief order. Examples of assets could include:

  • Property
  • Antiques
  • Shares
  • Savings
  • Money other people owe you
  • Jewellery
  • Computers

These assets are valued by how much you would get if they were re-sold in their current condition, not the amount you purchased them for.

Is a debt relief order right for you?

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Which assets aren’t included in a DRO?

When totalling up how much your assets are worth there are certain assets the official receiver dealing with your DRO won’t count.

These items include:

  • Essential household items like bedding, clothing and furniture
  • Tools or other equipment that are essential for your job

Can I keep my car on a DRO?

To qualify for a DRO your total assets cannot be worth more than £1,000 if you live in England, Wales or Northern Ireland, but you can also own one domestic vehicle worth up to £1,000 on top of this.

You’ll need to provide details of your vehicle including the make, model and registration number. Your vehicle’s value will be checked and if it appears to be worth more than £1,000 you'll need to provide valuations from two independent motor dealers.

If you own a vehicle that’s used for business purposes only, it’ll be counted as part of the total assets you’re allowed. This means if your business vehicle is worth more than £1,000, a DRO won’t be possible.  

If your vehicle has been specially adapted to help you with a physical disability, the £1,000 limit doesn’t apply.

How is my home affected by a DRO?

If you own your home you cannot apply for a debt relief order even if your home is in negative equity either way any application will be declined.

Do you qualify for a DRO? Get free debt advice

If you’re considering making a DRO application then visit our online debt help tool, which will provide you with the debt help you need and can recommend a solution to help you deal with your debt.

Helping you become debt free...

“I wish to thank your staff for all the great help they gave me when I was in so much debt.
They were a pillar of support to me.” (Leslie, Essex)

Foundation for Credit Counselling Wade House, Merrion Centre, Leeds, LS2 8NG trading as StepChange Debt Charity and StepChange Debt Charity Scotland. A registered charity no.1016630 and SC046263. It is a limited company registered in England and Wales (company no:2757055). Authorised and regulated by the Financial Conduct Authority.

We link to external websites where they contain relevant information for our visitors. We're not responsible for the content of these websites, or any infringement on your data rights under data protection regulations by any external website provider.

*This is the average rating of our service based on the StepChange reviews on Feefo by DMP and DRO clients three months into their solution.

© StepChange Debt Charity 2019