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Understand the impact of a debt relief order (DRO) and the restrictions you will face if you enter into one.
A debt relief order is a form of insolvency and a low cost alternative to bankruptcy. It is suitable for people who:
A DRO is available in England, Wales and Northern Ireland. In Scotland you can apply for minimal asset process (MAP) bankruptcy. This is a similar solution, but it has different benefits, risks and fees.
It is important to know about:
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