This procedure is designed to assist people who are unable to pay their debts.
A DRO lasts for 12 months, providing that the person entering into the DRO has not given misinformation about the amount of money they owe.
All applications must be done through an approved intermediary, such as the Citizens Advice Bureau or National Debtline and once approved, the DRO is overseen by the Official Receivers Office.
To apply for a DRO, a debtor must have the following:
Providing the applicant fits the criteria to enter into a DRO and adheres to its terms for a period of 12 months, then all debts that were notified of the DRO are written off.
The applicant has certain restrictions, whilst in a DRO, that must be adhered to, or it will fail, and creditors will be allowed to pursue for all outstanding monies.
The restrictions whilst in a DRO are as follows:
If you have any further enquiries with regard to a DRO, please contact us on 0800 781 0014 and we will be able to direct you towards an approved intermediary, who will be able to assist you with your application.