As posted by Pincer. Have added again with a sticky, so it stays near the top.

Hi

Another interesting (and perhaps a little disturbing) article from the BBC

http://www.bbc.co.uk/news/business-16345896

The main feature of the article is Debt Relief Orders (a formal insolvency solution along with bankruptcy and IVA)

It looks like approx 44,000 Debt Relief Orders (DROs) have been taken out since their somewhat shaky introduction around april 2009.

I understand that the vast majority of the approx 44,000 Debt Relief Orders that have been administered so far have been via the genuine free 'face to face' agency Citizens Advice Bureau which makes a mockery of some peoples claims that they are on the creditors side so to speak.(you dont see many fee chargers or so called bankruptcy assist outfits who do Debt Relief Orders - I wonder why)

Useful link below for anyone considering a Debt Relief Order -

http://www.adviceguide.org.uk/index/your_money/money_management_index_ew/help_with_debt_index_ew/debt_relief_orders.htm

The expenditure figures used in Debt Relief Orders are basically in line with the Common Financial Statement (see link below) which can be a little confusing at tmes for both advisers and debtors considering their options when you consider the so called HES figures that get mentioned in bankruptcy (another formal insolvency solution)

http://www.cfs.moneyadvicetrust.org/

Useful link to The Debt Relief Order Intermediary Guidence notes below (the rent arrears section is of particular interest)

http://www.i-m-a.org.uk/pdfs/Intermediary_guidance_Version_8_0_April_2011.pdf

The article also goes on to suggest a surge of calls to Debt Management Companies once the New Year celebrations are over - at the end of the day it is the individuals choice from whom they seek advice (rumour has it though, that the Debt Management side of things may be about to get a little more interesting)

Pincer