THOUSANDS of people across England and Wales are being forced into bankruptcy because they do not meet the threshold for a Debt Relief Order (DRO), which is significantly cheaper, Christians Against Poverty (CAP) has estimated.
The national debt charity works through its network of more than 580 churches in the UK to provide debt advice to 12,500 clients.
DRO is a form of insolvency which offers a simple, accessible, and inexpensive path to debt relief for people in otherwise insurmountable financial distress. It is much more affordable and more timely, certain, and less stigmatised, CAP says than bankruptcy: it costs 90 apply for a DRO, while a bankruptcy application is 680.
The Individual Voluntary Arrangement (IVA), for people who …
Read the full article at: https://www.churchtimes.co.uk/articles/2021/12-february/news/uk/christians-against-poverty-urges-debt-relief-reform-to-meet-pandemic-needs