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Debt Relief Order Liverpool

Bankruptcy & Debt Help

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Debt Relief Orders are a relatively recent introduction to the debt solution landscape and add a new option for a limited number of people facing financial problems and debts. Those people for whom it is an option are limited in number due to the strict criteria that must be met for a Debt Relief Order to be put in place. Frequently referred to as "bankruptcy light" a Debt Relief Order offers an alternative to bankruptcy or an Individual Voluntary Arrangement (IVA) for people in Liverpool, Merseyside and elsewhere in England and Wales.

Debt Relief Order also known as "bankruptcy light".

DRO Liverpool and Merseyside.

 

For ease of understanding the criteria are presented in summary form:

  • You must be unable to pay your debts as and when they fall due for payment.
  • Your total unsecured liabilities must be less than £20,000.
  • If you own a motor vehicle it can be worth no more than £1,000.
  • The total value of any other assets must not exceed £300.
  • Your surplus income must be no more than £50 a month.
  • You must be living in England or Wales or at least having lived or carried on in business in England or Wales within the last 3 years.
  • You must not have been subject to a prior Debt Relief Order within the last 6 years.
  • You must not be subject to any other formal insolvency procedure when you apply for the Debt Relief Order such as bankruptcy or in an Individual Voluntary Arrangement.

 

Telephone: 0151 909 5862

Email: enquiries@kealeyconsulting.co.uk

Office hours: 09.00-17.00

 

As you can see the criteria is strict and very limiting. You must be able to satisfy every single requirement and there is no discretion whatsoever to "bend" the rules on meeting the criteria.

With the increase in the debt level to £20,000 in October 2015 more people are now eligible for this cheap and simple solution. You can set a Debt Relief Order up right here in Liverpool or wherever else you may be in England or Wales.

How a Debt Relief Order Works

You must find an an approved intermediary to set one up for you. Approved intermediaries are generally debt advisors, approved by a competent authority, who complete your application for you and the Order is managed by the Official Receiver Liverpool or your own local Official Receiver's office. Not all debt advisors are approved intermediaries and you may wish to seek one through the Citizens Advice Bureau. You must pay a fee of £90 for the Debt Relief Order to be processed..

The Debt Relief Order lasts for one year. During that year no creditor can take any action against you. At the end of the year your debts are written off and you are debt free.

A Debt Relief Order is a highly attractive alternative to all other debt solutions if you are able to meet the criteria. It is simple and inexpensive to set up, effective in relieving you of the pressures that debt can bring, and achieves the desired result of you being free of debt after only one year.

If you think a Debt Relief Order might be right for you please contact us now.

 

Debt Relief Order Liverpool November 5, 2013

Address

Park Court, 1 Alexandra Drive Liverpool L17 8TA
Phone: 0151 909 5862
Website: http://www.kealeyconsulting.co.uk
Email: enquiries@kealeyconsulting.co.uk

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enquiries@kealeyconsulting.co.uk