If you wish to apply for a Debt Relief Order, there are certain criteria that you must meet. These include but are not limited to:
- That you are unable to pay your debts
- That your assets, liabilities and income meet the prescribed criteria
The main criteria are:
- That your debts must not exceed £20,000.00
- That your gross assets must not exceed £1,000.00
- That your disposable income after normal household expenses should not exceed £50.00
- And you are not subject to certain other insolvency proceedings.
Further explanation on the above criteria and further parameters you must satisfy
in order to be eligible for a Debt Relief Order can be found in the Insolvency Service
publication "Guide to Debt Relief Orders" available on the Insolvency Service website.
You may be required to provide documentary evidence in support of the information
detailed in your application, and for examples of the type of evidence you may be
required to provide please see the "Guide to Debt Relief Orders".
You will need to pay a fee of £90.00 before your application can be considered,
and the fee is NON refundable once the application is submitted whether the application
is approved or rejected.
A warning will be issued if your application does not appear to meet the criteria.
However you should be aware that the responsibility lies with you, the debtor, to make sure you comply with the requirements of the application and that the information you supply is complete and correct even if someone else has helped you to fill in the form.
Recheck the application before you ask your intermediary to submit it to the Official Receiver.
You are warned that a failure to be truthful in the application is a criminal offence
and may lead to any subsequent order being revoked, and you may be subject to other
enforcement proceedings including criminal prosecution.
You should therefore ensure that the information that you provide is, to the best
of your knowledge and belief, correct at the time you submit your application.
You should also be aware that the data provided will be checked by The Official Receiver
using external data sources and by making the application you authorise these checks
to be made.