YOUR VIEW

Published date13 September 2021
Publication titleEvening Gazette
A. You may be able to apply for a DRO if all of the following things apply to you: ¦ you are unable to pay your debts ¦ your debt are not more than £30,000 ¦ you have £75 or less left each month after you have paid your usual household expenses ¦ you have less than £2,000 in general assets ¦ you do not own a motor vehicle that is worth £2,000 or more Q. What debts can be included in a DRO?

A. Debts that can go into a DRO are qualifying debts, they include : ¦ ¦ credit card, overdrafts and personal loans ¦ arrears of rent, utility bills, telephone bills, council tax and income tax ¦ benefit overpayments ¦ ¦ hire purchase Q. What happens if a

DRO is granted–A. If a DRO is granted by the Insolvency Service, you will not have to make any payments towards most debts that are included in your DRO. Also, your creditors cannot force you to pay off the debts. At the end of the DRO period, usually a year, your debts will be written off. Q. How do I apply for a DRO–A. To apply for a DRO there is a fee of £90.00 to pay. To arrange a DRO application you have to have advice and...

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