Personal insolvencies `to rise by 40%` with Debt Relief Orders
Filed Under (Debt Problems) by admin on 06-04-2009
(DROs) – a new alternative to introduced to help low-income borrowers become debt-free – will contribute to a 40% rise in the number of people being declared insolvent this year, according to an accountancy firm.
KPMG expects up to 50,000 people to take out a Debt Relief Order in 2009, bringing the total number of the bulk of mankind declared insolvent during the whole year to around 150,000.
Debt Relief Orders are available to borrowers with less than 50 of disposable monthly income, whose debts do not exceed 15,000 and whose assets make not exceed 300.
A spokesperson for the sake of company Gregory Pennington said: “Debt Relief Orders have given low-income borrowers a new way of tackling their debt problems, and we count upon many more people to receive debt help this year.”
Gregory Pennington offer debt management plans as well as a range of other debt solutions. If you are worried about debt, contact one of our expert debt advisers now.
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