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It’s important to know about the impact of a DRO and the restrictions you’ll face if you enter into one.
A debt relief order (DRO) is a form of insolvency designed as a low cost alternative to bankruptcy. It’s suitable for people on a low income, who have a relatively low level of debt that they’re unable to repay within a reasonable amount of time.
A debt relief order (DRO) is available in England, Wales and Northern Ireland. If you live in Scotland you might be able to apply for bankruptcy using the minimal asset process (MAP). This is a similar solution, but it's important to note that it has different benefits, risks and fees associated with it.
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It’s important to know how a DRO will impact your life and what will happen if you enter into one. Here you can find out more about the process involved with debt relief orders and how it’ll impact you once the DRO ends.
Our online debt advice service, Debt Remedy, can give you the free, realistic advice you need to find out which is the best debt solution for your situation.