All articles by Qamar Aziz

Debtors’ paradise

Debt Relief Orders (DROs), which came into force on 6 April 2009, are the latest debt relief tool available to individuals with relatively low levels of liabilities, but no assets or spare income with which to pay their debts. These are relevant to leasing companies insofar as individuals are indebted to leasing companies for example, under the leasing agreement itself; where the individual has provided a personal guarantee, or where the individual is otherwise liable to the finance company.