Debt Relief Order (DRO)
Debt, arrears & collectionsA formal insolvency solution for people with low income and minimal assets.
Overview
DROs are available in England, Wales, and Northern Ireland for certain debt levels.
They can pause debt repayments for a period and may lead to debts being written off.
Why it matters
- It is recorded on your credit file and affects borrowing.
- It can provide relief from unmanageable debts.
- Eligibility is strict and requires advice.
FAQs
Does a DRO affect my credit score?
Yes. It is a serious insolvency entry on your credit report.
Can I get a DRO if I own a home?
DROs are usually for people with minimal assets. Eligibility rules are strict.
Related terms
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