Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, whether he plans to increase the financial cap for eligibility for a Debt Relief Order; and whether he has made an assessment of the potential merits of increasing that financial cap 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.