Question to the Department for Business, Energy and Industrial Strategy:
To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment he has made of the potential merits of increasing the Debt Relief Order limit to £50,000.
The Government has recently consulted on proposals to increase the eligibility criteria for Debt Relief Orders to help more people deal with their financial difficulties and to provide a fresh start. The consultation includes increasing the total amount of debt allowable in a Debt Relief Order. The consultation proposes an increase from the current debt limit of £20,000 to £30,000 but also seeks views on whether a different limit should be implemented. The consultation closed on 26 February 2021 and the Government is currently reviewing the responses.