Debt Relief Orders (“DRO”) – a welcome alternative for those in financial difficulty

Debt Relief Orders are a personal insolvency option for those with limited assets / debts in financial difficulty. The Government has recently announced the abolition of the £90 administration fee and with effect from 28 June 2024 the maximum debt threshold will increase to £50,000 and the maximum value of a motor vehicle that an individual can retain will increase to £4,000.

This means that significantly more people will be able to access DROs rather than having to rely on bankruptcy / IVAs. 

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