More People Could Find Debt Help with Debt Relief Orders

Online, April 6, 2010 (Newswire.com) - The Labour Government's Department for Business is due to hold talks into the rules surrounding Debt Relief Orders (DROs) this month. If the rules are eased, more people in England and Wales who have small pension funds could be eligible to use Debt Relief Orders as a way to deal with insolvency and bankruptcy.

Debt Relief Orders which are an alternative to bankruptcy and Individual Voluntary Arrangements, help people to clear debts within a year. Currently DROs are unavailable to people with assets worth £300 or more which can exclude people with a pension fund. Once talks have been completed, this rule may be abolished altogether or the pension fund allowance may be altered to enable people with a low income and a low pension fund to apply for a Debt Relief Order.

Concern has been growing for many people who have had their Debt Relief Order applications rejected due to having a small pension fund. Debt Release Direct (http://www.debtreleasedirect.co.uk) is one of the UK's leading and longest established debt management companies that can advise on the best solution for you, including- DROs, bankruptcy, IVA, debt management plans and more.