Welcome to Debt Solution 4 U |
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Debt Relief Order |
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Debt Relief Orders came into force in England and Wales on 6th April 2009 as bankruptcy procedure is too expensive to be a practical option to solve many people debt problems. |
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This new form of debt relief similar to bankruptcy has been introduced to help people who have limited financial income. |
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A person who is unable to pay off the debts. Unsecured debts must not exceed £15,000. Total gross assets must not exceed £300. You are allowed to keep a car if it is worth less than £1000. disposable income should not be more than £50 per month. You must be living in England or Wales for the last 3 years. You must not be involved in any other formal insolvency procedures. |
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The Debt Relief Order application can only be made via an approved intermediary online. http://www.insolvency.gov.uk/ There is a fee of £90.00 and must be paid in cash before the Official Receiver will only consider your application. The £90.00 fee is not-refundable. Call the Insolvency Enquiry Line on 0845 602 9848 for more information. After submitting the application online you must also print and sign a copy and post it to Plymouth. The address is shown below. |
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The Insolvency Service in partnership with skilled debt advisers, called approved intermediaries run Debt Relief Order without any court interference. |
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They will help you to apply to The Insolvency Service for a debt relief order. Debt relief orders are made by an Official Receiver’s Office in Plymouth. |
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Once a Debt Relief Order is approved any outstanding balances will be written off after one year by the creditors thus making you debt free. The creditors who are included in the Debt Relief Order cannot take any legal action to recover or enforce their debts against you. |
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