U.K. Proposals to Help More Citizens Struggling with Debt

Proposals have been outlined by the U.K. government to increase the financial eligibility criteria for debt relief orders (DROs), helping more people deal with financial difficulties to get a fresh start, according to a press release. Research shows that the demand for debt advice could increase by up to 60% by the end of 2021 and around 3 million more people than before the pandemic will need support with problem debt by the end of 2021. The government is publicly consulting on changing the eligibility criteria to enter a DRO to:

- increase the total amount of debt allowable to £30,000 (from £20,000)

- increase the value of assets owned by the individual to £2,000 (from £1,000)

- increase the level of surplus income to £100 (from £50) per month.

Read more.