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What is a Debt Relief Order
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Manage episode 452658557 series 3602995
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In this episode we explain Debt Relief Orders (DROs), a debt management plan for individuals in England, Wales, and Northern Ireland with low income and assets under £1000. A DRO allows for debt write-off after 12 months, offering protection from creditors and affordable repayments. Eligibility criteria include total debt under £20,000 and disposable income below £50 per month. The article details the application process and benefits, ultimately advising readers to seek professional advice before applying.
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