• 0161 848 0576
  • info@mercurycorporaterecovery.co.uk

​​​If your debts are less than a prescribed amount, you may meet the eligibility criteria for a Debt Relief Order.  This is similar to bankruptcy as a way of preventing creditors from pursuing you in respect of your liabilities. Provided you adhere to the conditions of the DRO, your debts are written off after a 12 month period.  To meet the eligibility criteria for a DRO you must have:

  • Less than £20,000 of unsecured debts (e.g excluding Hire Purchase or loans secured on any asset)
  • Less than £50 per month surplus income
  • Less than £1,000 worth of assets
  • Lived and worked in England and Wales for the last 3 years
  • Not applied for a DRO in the last 6 years

​DROs are administered by authorised intermediaries who you should contact to get appropriate debt advice and assess whether a DRO would be appropriate for you.

Do you need expert help?

Speak to one of our experienced staff about guiding you to the correct advice for getting help with your debts. We are confident we can give you a great service at a competitive price.