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What is the eligibility criteria for a Debt Relief Order (DRO)?

During the first half of 2024 the eligibility criteria for a debt relief order changed quite dramatically. Below we have set out the new eligibility requirements.

As with any debt solution, it is important that you seek professional advice before commiting.

Find out if you are eligible for a Debt Relief Order.

What i s a Debt Relief Order?

  • A Debt Relief Order is designed to help people who do not see a way of being able to ever repay their debts.
  • A formal debt solution, which means that it is legally binding on all parties to it.
  • Usually lasts for a period of 12 months.
  • Stops your creditors from being able to pursue you any further for the money that you owe and stops them adding further interest and charges.
  • At the end of the term of your DRO, if your financial circumstances have not changed, any debts included in your DRO are written off in full.

Who can apply for a DRO?

  • Anyone who is a resident of England or Wales.
  • You must be over the age of 18 to apply for an IVA.

How do I know if I am eligible For a Debt Relief Order?

  • You must owe less than £50,000 in total.
  • Have savings our assets (valuables) worth less than £2,000.
  • Own a vehicle worth less than £4,000.
  • You are not currently in an IVA, are bankrupt or have had a DRO in the past 6 years.
  • You do not have enough money left over at the end of each month to meet your monthly debt repayment obligations.

To find out more about Debt Relief Orders and the other debt solutions available in England and Wales, please complete the form at the top of this page.

Check your DRO eligibility

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Registered office: Dissolve Debt Ltd, Paul House, Stockport Road, Timperley, Altrincham, Cheshire, WA15 7UQ

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