In debt and need to start again? A Debt Relief Order might be the answer to end the sleepless nights.

: and they have just got better!

Debt relief orders are one way to deal with your debts if you owe less than £20,000, do not have much spare income and do not own your home. If you get one: your creditors cannot recover their money without the court’s permission.

Nucleus advisors are accredited to help you get a DRO – it is a great way finally being able to get to grips with your debts and starting afresh. there are consequences so do get advice.

And they just got better – as of the end of June to DRO eligibility criteria will see the level of debt at which people can apply for a DRO increase from £20,000 to £30,000. people experiencing problem debt to get a fresh start.

The changes to the criteria will:

  • Increase the threshold on the value of assets that a debtor can hold and be eligible to enter into a DRO from £1,000 to £2,000.
  • Increase the value of a single motor vehicle that can be disregarded from the total value of assets from £1,000 to £2,000.
  • Increase the level of surplus income received by the debtor before payments should be made to creditors from £50 to £75 per month.
  • Increase the total debt allowable for a DRO from £20,000 to £30,000.
Keep hold of your cash !

The changes are due to come into effect on 29 June to coincide with the end of the first 60 days of the Government’s Breathing Space scheme, which began on 4 May 2021.
Ring one of our advisors or complete the contact form to get help – it will save you lots of sleepless nights.
Ring 020 3727 9300 to speak to an advisor now.