Lamport Bassitt Solicitors - Legal News - Changes to DRO eligibility 'will make them more accessible'


	LATEST LATEST LEGAL NEWS ARCHIVE		LATEST NEWS & EVENTS Changes to DRO eligibility 'will make them more accessible' More people facing insolvency will be eligible for debt relief orders (DROs) as a result of changes to the criteria surrounding them, it has been claimed. Under plans newly announced by the Department for Business Innovation and Skills, people with small pension pots will be able to apply for such measures. Currently, anyone with post-work savings of more than £300 is precluded from accessing DROs - which are a cheaper option for people seeking to avoid bankruptcy. Responding to the development, Tom Howard, a spokesperson for the Consumer Credit Counselling Service, said they will mean a wider section of society will be able to make use of the orders. He added: "For some, insolvency is the best option and DROs, where appropriate, are a useful tool in helping people confront and resolve debt problems." However, as they are relatively new, there may be further "teething problems" with them, he concluded. Related Articles: 8/5/2012 - More companies fail as personal insolvencies fall 23/4/2012 - Landlords and insurers unite behind insolvency law reform 19/4/2012 - Enterprise Act 'does not need radical overhaul' 13/4/2012 - Retail insolvency rate up 15% as rent payments bite 28/3/2012 - Business insolvencies on the rise More Insolvency & Restructuring News