How does a Debt Relief Order work?
Debt Relief Orders can only be administered by an accredited intermediary.
We would assess your individual situation and if appropriate file the application on your behalf.
Step 1
Full review of financial circumstances.
Step 2
Application is made to an Official Reviewer
Step 3
If granted, your creditors will be notified
Is a debt relief order right for me?

A debt relief order should be considered very carefully, just like bankruptcy. A debt relief order may be right for you, if you:

  • Are unable to pay the debts you owe
  • Owe creditors less than £30,000
  • Disposable income of less than £75 per month
  • Less than £2000 worth of assets
  • Not own a vehicle more than £2000

There are some things to consider before deciding to on a Debt Relief Order:

  • You will have to pay a one-off fee when applying
  • You will still need to pay essential bills that aren’t included in the DRO
  • It will stay on public record for last 15 month
  • It will affect your credit score for up to 6 years
  • Future credit may be at a less competitive rate
  • If your financial circumstance improves, you will be expected to pay back creditors
  • There is a one off fee of £90 to pay for your application for a Debt Relief Order.

Please note that MA Finance do not charge any fees what so ever for the advice of bankruptcy and debt relief order applications.