Author Topic: Considering a debt relief order - Have a few questions  (Read 14499 times)

John Bristol

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Considering a debt relief order - Have a few questions
« on: Apr 23, 2015, 08:41:15 PM »
Someone told me about Debt Relief orders... I have read up on various sites and i know what the criteria is for getting a DRO...

My questions are regarding what i can and cant do once i am actually on the DRO...


1. If i already have my own business, can I keep it going (its not a LTD Company)?
2. Can i start up a new business as a sole trader or enter into a partnership?
3. Can i open a new bank account... personal or business?
4. How much am i allowed to earn a year before i have to declare a change of circumstances?
5. How much am i allowed to earn a year before the order gets cancelled?
6. After a debt relief order finishes, and i am released from all my debts... am i still registered as a bad debtor with companies like xperian & Equifax??

Thanks in advance for any advice / help

John