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A debt relief order (DRO) is exactly that; a relief from mounting debt! For those who have few (or no) assets – usually meaning they don’t own property or have valuables worth more than £2,000 with less than £75 disposable income – a debt relief order may be the most viable option.
A debt relief order UK can be put in place to help borrowers experience some relief from their financial obligations when they find themselves over-indebted or experiencing a life change that means they can no longer afford their regular expenses. What is a debt relief order? It’s a viable alternative to an IVA (individual voluntary arrangement) or bankruptcy for people with no assets.
Before you apply for a debt relief order, it’s best to understand what the debt relief order criteria are and what to expect once the debt relief order UK is set in place. You can read multiple debt relief order reviews online and still feel conflicted about the process. However, the process can be simplified with the help of one of the platforms we’ve reviewed below.
Best Debt Relief Order Services UK - Editor’s Picks
- Help My Debts Pro: Best Platform to Request Help with UK Debt Relief Orders
- 123 Debt Fix: Best Place to Find Out Where to Apply for a Debt Relief Order
- Viva Debt Help: Best Platform to Get Your Details Forwarded to Leading Debt Relief Order or IVA Specialists
- Debt Nurse: Best Place to Connect with Leading Debt Relief Order UK Services
Connect with the Best Debt Relief Order Services Via These Leading Platforms
Help My Debts Pro: Best Platform to Request Help with UK Debt Relief Orders
Help My Debts Pro doesn’t provide you with debt relief order advice itself, but it provides the easiest way to get in touch with the right UK debt relief orders experts who can help you and your specific situation. It’s hard to know who to reach out to for help when you’re stressed about mounting debt, and with the Help My Debts Pro service, you can avoid waiting time, getting confused, or suffering any embarrassment.
When you visit the Help My Debts website, you’ll indicate how much debt you’re in. By submitting the form, you’ll consent to your information being referred to a regulated debt advice solution provider. Rest assured that Help My Debts only works with professional partners regulated by the FCA (Financial Conduct Authority) and licensed to provide debt advice.
Highlights of Requesting Help with UK Debt Relief Orders via Help My Debts Pro Platform
- Discreet process
- Partners you’ll be referred to cover most debts
- You’ll get advice from a professional debt advice expert
- Your monthly debt payments can be greatly reduced
- You’ll get a custom solution, not a one-size-fits-all product sold to you
Debt Relief Order UK Pros
- Gain control over your debt
- Deal only with qualified debt advice professionals
- Reduce the amount you payout each month
Debt Relief Order UK Cons
Your name will go on the insolvency register
⇒ Visit the Official Website of Help My Debts Pro
123 Debt Fix: Best Place to Find Out Where to Apply for a Debt Relief Order
If you’re struggling under the pressure of mounting debt from council taxes, credit card debt, income tax debt, utility bills, mortgage arrears, rental arrears, or even payday loans debts, you can seek out the assistance of a professional debt advisor who can set you up with a debt relief order. It can be hard to decide which expert debt advisor is right for you, and that’s where 123 Debt Fix steps in. Simply provide your details and debt information, and they’ll bring you the best debt relief order advisors.
When using the 123 Debt Fix platform, you can expect to get help with debts from £5000 to £30000+. By completing the application form on the 123 Debt Fix website, you’ll authorise the platform to send your details to a third-party debt advice solution provider who will discuss the ins and outs of your debt with you, along with the most viable solutions.
Highlights of Using 123 Debt Fix to Find Out Where to Apply for a Debt Relief Order
- Get quickly connected with a debt advice solution provider
- Absolute discretion
- Help with all debts up to £30000+
- Get assistance with debt starting from £5000+.
- Speak with friendly advisors who are understanding and professional
Debt Relief Order Pros
- Get out of overbearing debt
- Get advice on the best solutions available
- Enjoy breathing room in your budget
Debt Relief Order Cons
Your details will appear on the insolvency register for 3 months after your debt relief order is completed
⇒ Visit the Official Website of 123 Debt Fix
Viva Debt Help: Best Platform to Get Your Details Forwarded to Leading Debt Relief Order or IVA Specialists
When using the Viva Debt Help platform, you’re indicating that you permit the platform to refer your details to debt advice solution providers who are best qualified to assist you with a debt relief order or IVA. Viva Debt Help only partners with the UK's most reputable FCA-approved debt solution advisors. It takes only a few moments to input your debt information and personal particulars on the Viva Debt Help website. Here, you can apply to write off debts over £5000 from credit cards, personal loans, council tax, and store cards.
Once your information has been referred to the experts in the field, you can expect an advisor to contact you directly. You can expect the debt advice solution provider to explain the process of a debt relief order or IVA, including that your ability to get credit will be impacted for around 6 years, and your name may appear on the insolvency register.
Highlights of Using Viva Debt Help to Forward Your Details to Leading Debt Relief Order or IVA Specialists
- Rest assured you’re dealing with FCA-approved debt advisors
- Learn everything required before applying for a debt relief order
- Find out quickly if a debt relief order or IVA is best suited to you
- Cut out the confusion
- No need to approach several debt advisors
Pros of Using Viva Debt Help to Forward Your Details to Leading Debt Relief Order or IVA Specialists
- Freeze interest and charges
- Write off debts over £5000
- No obligation advice.
Cons of Using Viva Debt Help to Forward Your Details to Leading Debt Relief Order or IVA Specialists
A debt relief order or IVA is not suitable for all circumstances
⇒ Visit the Official Website of Viva Debt Help
Debt Nurse: Best Place to Connect with Leading Debt Relief Order UK Services
Debt Nurse is a leading platform for connecting over-indebted Brits with FCA-approved and regulated debt advice solution providers who can assist them with effective debt relief. While Debt Nurse doesn’t provide debt relief order services themselves, the platform partners with some of the leading expert advisors, providing peace of mind to applicants.
When you apply for the Debt Nurse service to refer your details to the best debt relief order advisors, you can expect a quick and easy application process, total discretion throughout the process, and to receive simple explanations of the otherwise complex process of debt relief. You can freeze interest and fees and write off some debts over £5000.
Highlights of Using Debt Nurse to Connect with Leading Debt Relief Order UK Services
- Quick and easy application
- Provide a quick list of your monthly debts
- Expect professional advice
- Only deal with FCA-approved debt advisors
- Save time and frustration
Pros of Using Debt Nurse to Connect with Leading Debt Relief Order UK Services
- Freeze interest and fees
- Put an end to harassing calls from creditors
- Get breathing room.
Cons of Using Debt Nurse to Connect with Leading Debt Relief Order UK Services
Your name and details of your debt relief will go on the insolvency registry
⇒ Visit the Official Website of Debt Nurse
How Did We Choose The Platforms to Help You Find a Specialist to Get on the Debt Relief Order Register?
- Simplified application processes
- No unrealistic promises – just honest, professional advice
- Access to FCA-approved debt relief advisors
- Covering a broad spectrum of expenses
Types of Debt Relief Orders
When accepting debt relief orders, individuals will be placed on the debt relief order register. The following are just a few of the types of debt relief orders.
Refinancing a Mortgage to a Lower Interest Rate
One type of debt relief order allows individuals to refinance their mortgage to get a lower interest rate and thus bring down monthly outlay.
Debt Consolidation
This is the process of taking out one loan that covers the cost of all of your debts. The loan is spread over the long term, making monthly installments affordable.
Combining Several High-Interest Loans into a Low-Interest Loan
If you've been paying off several high-interest loans for years, you can combine the balances with taking out one low-interest loan spread over a longer repayment term.
What is a Debt Relief Order & How Does it Work?
A debt relief order means that certain debts don’t need to be paid for a set period (usually 12 months). When the debt relief period is over, the debts that are included in the order will be discharged if your situation hasn’t improved. In some instances, the debt can be reduced, allowing you breathing room in your budget.
What is a Debt Relief Order Expected Features & Factors?
The Length/Term: How Long Does a Debt Relief Order Last?
In most instances, the debt relief order is in place for 12 months.
The Debt Relief Order Expenditure Allowance
When working out whether or not you qualify for a debt relief order, some items you spend on each month won't be counted towards your total. This is because only allowable expenses are deducted from your income to reach an official disposable income figure. You may not be eligible for a DRO if you have more than £75 disposable income after expenses each month.
Debt Relief Order Criteria to Be Eligible
- No more than £75 disposable income each month
- Valuables should be worth less than £2000
- Debts should be between £5000 and £30000
What Is Covered With A Debt Relief Order in the UK?
When using any of the abovementioned platforms, you can expect to get assistance with covering the following debts:
- Council tax
- Business debt
- Income tax debt
- Logbook loans
- Secured loans
- Student loans
- Payday loans
- Credit card debt
- Utility bills
- Gambling debt
- Mortgage or rent arrears
- Unsecured debt
- Debit cards
Costs of a Debt Relief Order
The receiver will require a fee of £90 to process a debt relief order.
How to Apply for a Debt Relief Order - How to Get a Debt Relief Order in 3 Quick Steps
To start the process, you can apply for a debt relief order via the Help My Debts Pro website by following these steps:
Step 1: Complete the No Obligation Form on the Help My Debts Pro Website
The form will take just a few moments to complete and will get the process started.
Step 2: Get a Call from a Qualified FCA-Approved Debt Advisor
When you submit the form, your details are referred to a professional advisor who will make contact with you.
Step 3: Find a Suitable Debt Relief Solution
The professional advisor will discuss your options with you and help you find the best possible solution.
FAQ’s
How Long Does a Debt Relief Order Take to Process?
Once you've applied, the DRO will take 12 months to process. At this stage, you're in a moratorium period, meaning you will have lifestyle restrictions.
How to Apply for a Debt Relief Order?
Visit the Help My Debts Pro platform and easily apply using the online form.
What is a Debt Relief Order?
A debt relief order provides you with 12 months to take a break from your debts. If your situation doesn’t change in 12 months, writing off the debt becomes a possible option.
Debt Relief Order Meaning?
A debt relief order means bankruptcy or getting your interest rate lowered, payment schedules extended, or negotiating with creditors to reduce the total outstanding to ensure quicker/easier payment.
Can I Apply for Credit After a Debt Relief Order?
A note of your debt relief order will remain on your file for 6 years after it was first activated. In some instances, lenders reject credit applications when they see an individual has a DRO.
What is the Minimum and Maximum Debt to Be in to Apply for a Debt Relief Order UK?
DROs usually apply to debts that total between £5000 and £30000+.
What is the Debt Relief Order Register in the UK?
This is a list detailing the debt relief routes individuals have taken. The note will usually remain on your credit file for 6 years after it was actioned. Once your DRO is complete, it usually takes around 3 months to remove your name from the debt relief order register.
Conclusion
If you're looking for the best way to find FCA-approved advisors to help you set debt relief in place, you can use any of the above-recommended debt advisors. However, help My Debts Pro is our #1 pick. Visit the Help My Debts Pro platform to request help today.
Disclaimer: All debt solutions should be very carefully considered. The websites advertised in this paid promotion do not provide debt advice. If you complete the form and provide permission to be referred, they will pass your details onto a regulated debt advice solution provider. All the partners they use are regulated by the Financial Conduct Authority to provide debt counselling. The websites advertised work exclusively with trusted debt solution providers. If you proceed with one of their solution options, they may receive a fee for introducing you to them. The websites advertised are lead generation companies who pass your details onto third parties in order to help you with your debt solution.
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Senka Maksimovic
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