Can I qualify for Debt relief?

By Taaza Facts

Published on:

An overview of Policies from each party

When you find yourself in debt and unable to pay it back you could qualify for credit card forgiveness otherwise called, debt relief.

This is when the creditor pardons a debtor from some or all of the outstanding debt.


A Debt Relief Order (DRO)

You can apply for a DRO for free and talk to an advisor to find out if you qualify and if you could receive debt forgiveness.

You could qualify if…

  • You owe £30,000 or less OR if you owe £50,000 or less from June 28
  • You don’t own a home
  • You don’t have other assets or valuable items, car, property
  • You don’t have much spare income, no more than £75 after paying household expenses.

A DRO usually lasts a year after which time your debts will be written off unless your situation improves.

A DRO could help you with payment plans that work around your situation or could help you get your debt forgiven.


Debts covered by DRO

  • Credit Card
  • Overdrafts
  • Loans
  • Benefits overpayments
  • Arrears with rent, utility bills, council tax and income tax
  • Bills for services such as, vets or solicitors.
  • Business debts.


If you are struggling to pay off your debt then find out if you qualify.

Taaza Facts

I am a multifaceted content creator with expertise in blogging, Finance, and Cryptocurrency reviews. My creative journey involves weaving captivating stories in blogs, designing aesthetically pleasing and functional websites, and dissecting the nuances of cinema. We are dedicated to sharing our passion and insights with a global audience.

Related Post

The Future of Finance Apps in Modern Banking – Finance Monthly

The world of finance is evolving at a breakneck pace, largely thanks to the rapid advancements in technology. Modern banking is no longer confined to traditional ...

6 Personal Finance Tips for Students Beginning Their Careers – Finance Monthly

Starting your career is an exciting, sometimes overwhelming, phase in life. Fresh out of school and diving into the professional world comes with its own set ...

Energy bill in the UK and how you can bring yours down

Each property will be ranked in bands from A-G dependent on their Energy proficiency certificate (EPC). The higher a property’s EPC rating the more energy efficient ...

Managing Money Abroad with International Banking Tips for Students – Finance Monthly

If you study abroad, you have an adventure: new cultures, people, and everything. But one big challenge is doing so without your usual financial resources. International ...

Leave a Comment

Actor John Abraham Purchases Bungalow In Mumbai For Rs 75.83 Crore Ankita Lokhande: From TV Stardom to Bollywood Dreams | Inspiring Journey Ayesha Khan Lifestyle, Bigg Boss 17 Wild Card, Boyfriend, Family, Munawar faruqui, Age, Biography Kalki 2898 AD – 100 Times Bigger Than Salaar Prabhas Film Bigg Boss 17: Salman Khan scolded Ayesha badly, got angry on Munawar-Ayesha matter