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First Class. I was in was in a mess with my debts, but the way they sorted out all my problems and made life less stressful was great. The service and speed in which they sorted my IVA was superb.
. . .Andrewvia TrustPilot
What is an Administration Order?
A County Court Administration Order or CCAO is a formal debt solution available if you have been issued with a Court Judgement that you are unable to pay in full. An Administration Order is suitable for debts under £5,000 to 2 or more creditors. In an Administration Order, you pay an affordable weekly, monthly or quarterly payment to your local court, who distribute the payment to your creditors in proportion to the amount they are owed.
You fill in an application for an Administration Order and return it to your local court. The court will decide how much debt you have to repay and what your monthly repayments will be. There is a court fee deducted from each payment, which cannot be more than 10% of the debt owed.
If you do not keep up payments , the court may make an attachment of earnings order. This is sent to your employer asking them to deduct amounts from your wages to pay the court, who will distribute to your creditors.
If you would like to find out more, fill in the form and one of our advisors will call you for a chat or scroll down the page for more information.
What are the benefits of an Administration Order?
You will be protected from your creditors. They will not be able to take any further action against you.
The court deal with everything on your behalf... i.e. paying the creditors, allocating the correct amounts etc...
All interest and charges are frozen / stopped.
There are no upfront fees for a DRO. The court usually takes 10p from every £1 you pay.
You can apply to make payments for a limited time if you can't pay all of your debts. This is known as a 'Composition Order'.
If your financial circumstances get worse, you can apply to the court for making reduced payments.
You should be able to continue running a business under an Administration Order.
What are the disadvantages of an Administration Order?
Your Creditors can put objections to the court, asking to be left out of the Adminsitration Order, but the court doesn't have to agree to this.
If you do not keep up payments on your Administration Order, it can be revoked/ stopped, leaving your creditors open to pursue you again.
If your court decides to make an attachement of earnsings order against you, then your employer will be made aware of your debt situation.
First Class. I was in was in a mess with my debts, but the way they sorted out all my problems and made life less stressful was great. The service and speed in which they sorted my IVA was superb.