Manage Your Finances
 

Am I eligible for a debt relief order

Debt Relief Orders are designed for those who are in serious financial difficulties.

For a Debt Relief Order to be approved by the Official Receiver, specific criteria must be met.

To be eligible for a Debt Relief Order, you:

-must owe less than £15,000 in unsecured debts
- cannot be a homeowner
- must have no more than £300 worth of assets, some assets don’t need to be included, examples of these -are household equipment, furniture, clothing and bedding, also tools, equipment and books, if they are used for your job
- cannot have a motor vehicle worth more than £1000, unless you have a physical disability and it has been adapted
- must have been a UK resident for the past three years
- must have less than £50 a month income left over once you have made all of your essential expenditure

Not all types of debt can be included in a Debt Relief Order, debts that can be included are:
- credit cards
- overdrafts
- loans
- utility bills
- council tax

Examples of debts that cannot be included, include:

- court fines
- child support and maintenance
- student loans

You will not be eligible to take out a Debt Relief Order if:

- you are currently bankrupt
- your creditors are petitioning for you to be made bankrupt
- you have an IVA or are in the process of applying for an IVA
- you have already had a Debt Relief Order in the last six years

Written By

To date I've been involved with helping thousands of clients save money by offering personalised mortgage & debt management solutions and have assisted in restructuring million of pounds of debt. You can contact me on

    Find more about me on:
  • googleplus

Debt Management Plans

first-feature-image

Compare debt management plans from the leading providers in the UK & find peace of mind in minutes.

Read More

Debt Consolidation

second-feature-image

Find a wide range of debt consolidation services to help you get your finances back on track.

Read More

Free Help & Advice

third-feature-image

Free advice from experienced and understanding specialists to help you get debt-free.

Read More