What is Debt Relief Order? How does it works?

A Debit relief orderis a private legal agreement in between you, your IP, and the lenders. So, there is nobody else who will know about the Debit relief order, unless they search on the public record of the Individual Insolvency Register. The Debit relief order will remain on your credit record for 6 years but will be removed from the register after 3 months of completion of your Debit relief order.

A Debt Relief Order is a way to have your debts written off if you have low level of debts with few assets. It is a private legal agreement in between debtor, your Insolvency Practitioner & lenders. To get the approval of this application you need to submit the necessary following proof of documents

1.Utility Bills

2.Wage Slips

3.Lease Agreement

4.Car valuation or Hire purchase agreement

5.Recent documents showing your debt amount

And some other necessary proof of documents.