Debt Relief Orders Explained: Your Complete Guide

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The information provided in this video is for editorial purposes only and not intended as financial advice. Free debt counselling, debt adjusting and providing of credit information services are available from MoneyHelper, an independent service set up to help people manage their money. You can find out more by contacting MoneyHelper. MoneyNerd is not associated with MoneyHelper, we just think they're great.
MoneyNerd does not give specific debt advice and we recommend that you always discuss your personal situation with a qualified adviser that works for a company that is authorised and regulated by the Financial Conduct Authority. With your consent MoneyNerd may pass you on to a trusted debt counselling company or insolvency practitioner. MoneyNerd Limited is an Introducer Appointed Representative of Pacific Financial Solutions Ltd who is authorised and regulated by the Financial Conduct Authority (Firm Reference Number 688034) and is classed as a debt counselling firm. Their in house IPs are Jason Bowen who is authorised to Act in the UK by the Institute of Chartered Accountants of Scotland (ICAS). Licence no. 22150 and Laura Stewart who is authorised to Act as in the UK by the Insolvency Practitioners Association (IPA). Licence no. 23590.

[@MoneyNerd]

If you need legal advice about your debt, here's the link to the trial for the online solicitor: justanswer.9pctbx.net/c/2873512/1147978/9320?sharedid=youtube-debt

[@reeves326]

So very helpful! Thank you

[@fatbelly27]

You didn't mention the function of the Approved Intermediary. The main check that the IS do is to check that you haven't had one in the previous 6 years. Did you mention the excluded debts? I didn't think you were clear about this being unavailable to homeowners, or the £90 fee.

[@Charlie-ly9kp]

The £90 fee has been removed since the 6th of April 2024.

[@justsomedude1488]

Great video mate.. so my wife has 17k in debt, she's wanting to get a DRO, now her only official Income is universal credit and child benefit, I'm also on the universal credit claim too.. now, I'm working...full time.. Will they use my Income to decide if she qualifies? Or is it only her side of the Income I.e benefits that they will calculate?? Thanks in advance mate

[@autordijanaferkovic]

this is all clear except from whom will the debt be collected afterwards?

[@nomadcarpenter8549]

Nobody will be collecting it