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What is a Debt Relief Order
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Manage episode 452658557 series 3602995
Indhold leveret af Todd Davis and Kia Thompson, Todd Davis, and Kia Thompson. Alt podcastindhold inklusive episoder, grafik og podcastbeskrivelser uploades og leveres direkte af Todd Davis and Kia Thompson, Todd Davis, and Kia Thompson eller deres podcastplatformspartner. Hvis du mener, at nogen bruger dit ophavsretligt beskyttede værk uden din tilladelse, kan du følge processen beskrevet her https://da.player.fm/legal.
In this episode we explain Debt Relief Orders (DROs), a debt management plan for individuals in England, Wales, and Northern Ireland with low income and assets under £1000. A DRO allows for debt write-off after 12 months, offering protection from creditors and affordable repayments. Eligibility criteria include total debt under £20,000 and disposable income below £50 per month. The article details the application process and benefits, ultimately advising readers to seek professional advice before applying.
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