Debt Relief Orders (DROs) have proven a useful option to many younger members of the public in the past 12 months, it is believed.
The Consumer Credit Counselling Service (CCCS) claims that it has advised more than 2,500 people who are 25 years of age or under to consider DROs since their introduction in April of last year.
Malcolm Hurlston, chairman of the CCCS, has noted that DROs can have a positive impact on those who are struggling with financial problems, which might include
credit card debt.
"This form of 'insolvency lite' is helping many people who have, for whatever reason, got into a position where they can no longer repay their debts," he commented.
DROs might also be proving a better option than bankruptcy for many single consumers, CCCS figures have suggested.
Last month, the organisation pointed out the problems that a weakened pound may be causing for expats who still have UK debts to repay.
Posted by Gemma Walker.
