Debt Relief Order - First Official Numbers
The first official numbers for Debt Relief orders are out, which are not amazing, but better than the numbers that were being discussed a few months ago.
The numbers released say that 1,978 people in England and Wales took out a DRO during April, May & June 2009 - the first three months of the service being available. The earlier numbers suggested much lower take up.
The numbers though, are still relatively low. In the same period, there were 18,870 bankruptcies and 12,225 IVAs, so Debt Relief Orders are obviously not being taken up or offered so often. It is still believed that the inclusion of pensions into the pot of assets taken into account by a DRO is one of the biggest issues here.