A debt relief order may be appropriate if you meet the following criteria:
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you are unable to pay your debts;
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you have debts of £50,000 or less;
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you do not have surplus income after expenditure of more than £75 per month;
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you don’t own your home;
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your assets are worth less than £2,000 (some assets are ignored when working out the value);
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you don’t own a car worth £4,000 or more, unless it’s one that’s been specially adapted because you have a disability;
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you haven’t had a DRO in the last six years and aren’t going through another formal insolvency procedure, such as bankruptcy or an individual voluntary arrangement; and
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you have lived, had a property, or worked in England or Wales in the last three years.
A free sit down with a Licenced Insolvency Practitioner at Lewis Business Recovery and Insolvency is a available on request.