A DRO is a legal agreement that stops creditors from contacting you and prevents them from taking any legal action against you to recover the debt. Once a DRO is in place, it lasts for 12 months, and during this time, you won’t have to make any payments towards your unsecured debts.
At the end of the 12-month period, your debts will be written off, and you will be debt-free. However, it’s important to note that not all debts can be included in a DRO, such as secured debts like mortgages or hire purchase agreements.
Our debt advisors can help you determine if you qualify for a DRO and provide guidance on the steps you need to take to apply for one. We can also assist you in filling out the necessary forms and provide you with ongoing support throughout the process.