Welcome to the Insolvency Service Website
What's New
Debt Relief Orders
A Debt Relief Order (DRO) provides relief from debt (subject to some exceptions).
A DRO lasts for 12 months, during which creditors named in it cannot take any action to recover their money without permission from the court. At the end of the 12 months you will, provided your circumstances have not changed, be freed from all debts included in your DRO. DROs do not involve the courts. They are made under a partnership between the Insolvency Service and skilled debt advisers, called approved intermediaries, who will help you apply to the Insolvency Service for a DRO.
Is a DRO likely to be suitable for me?
To apply for a DRO, you must meet certain conditions:
- You must be unable to pay your debts.
- You must not owe more than £15,000.
- You can own a car to the value of £1000 but the total value ofother assets must not exceed £300 (items such as clothing, furniture and tools for use in employment or a business may be disregarded).
- After taking away tax, national insurance contributions and normal household expenses, your disposable income must be no more than £50 a month.
- You must either be currently domiciled (living) in Northern Ireland, or have been living or carrying on business in Northern Ireland at some time within the last 3 years.
- You must not have been subject to another DRO within the last 6 years.
- You must not be involved in another formal insolvency procedure at the time you apply
Note : due to the restriction on the value of assets the scheme is not suitable for homeowners.
To find more information on Debt Relief Orders please see attached links below:-
List of competent authorities in relation to the Debt Relief Scheme.pdf
guide_to_debt_relief_orders.pdf
Guide to debt relief restrictions order
To search the DRO Register please click on the link below:-
insolvency.detini.gov.uk/Insolvencypublic/DRORegisterSearchWizard.aspx
Debt Relief Bill - Regulatory Impact Assessment
To view the Debt Relief Bill Regulatory Impact Assessment click here
Services Directive Implementation
To view the provisions of the EU Services Directive which came into operation on 28 December 2009, click services_directive_implementation-3.pdf
Services Directive legislation
Changes to deposits and registering an IVA from 1st October 2009
The deposits payable to the Department from 1st October 2009 are as follows:
- Petition to have a company wound up- £690.00
- Petition for bankruptcy (self adjudication) - £345.00
- Petition for bankruptcy (creditor's petition) - £415.00
Any deposits received by the Insolvency Service on or after 1st October 2009 must be at the appropriate amount as above.
The fee for registering an IVA is now £15.00
The Insolvency Service Public Portal
The Insolvency Service has completed a business modernisation project which has led to the development of new IT systems. A public portal has been developed enabling customers to pay deposits and complete their forms on-line 24/7.
Complete your forms online
This is an easy to use interactive internet service which you can access at a time and location that is convenient to you. You will be required to create a new account to use the Online Forms Service.
Form 6.31 Statement of Affairs (Debtor's Petition): you will need to complete this form if you wish to present a petition to the High Court to make yourself bankrupt. If you are making yourself bankrupt please read the information contained in the introduction page when you click on the link below.
To access please click here
