If you don't qualify for a Debt Relief Order, an IVA is sometimes the best alternative. Read more about Individual Voluntary Arrangements (IVA's). See further guidance and CVL frequently asked questions.
Once your DRO application has been accepted, all your debt repayments and interest are frozen for 12-months. If your financial position has not improved at the end of the year, your debts will be written off. See further guidance and CVL frequently asked questions.
The Insolvency Service will charge you £90 to process your application for a debt relief order. Unlike in the case of bankruptcy, there are no discounts available for DRO application fees. You will not be able to claim the fee back in the event your application is rejected or revoked.
No. Call us straight away on 0800 1804 933, in most cases we can prevent CCJ's from being enforced by bailiffs if we are instructed early enough.
It may be that declaring bankruptcy is the right solution to your debt problems however, you should take professional advice before proceeding with this. There are lots of other personal debt solutions available and it is vital that you have considered all these before going bankrupt. Once we understand your financial circumstances, we will explain [...]