Debt Relief Orders: A slow start.
10 November 2011
Having been recently introduced to Northern Ireland, the Debt Relief Order (DRO) seems to be off to a slow start, with 34 people entering a DRO between July and September
Enterprise Minister Arlene Foster welcomed the arrival of the DRO after the launch on 30th June 2011 stating "The scheme will offer the least well off in our society an affordable way of freeing themselves from debts which they have no prospect of being able to repay.
"The administration of the scheme will be relatively straightforward and cost-effective because there will be no need for a court hearing. It is estimated that up to 1,000 people could make use of the scheme each year."
The Insolvency Service's own figures have shown that 34 people in Northern Ireland entered a Debt Relief Order in the third quarter of the year.
