| Younger people turning to Debt Relief Orders (DROs) |
|
New figures from the Insolvency Service show more people aged between 25 and 34 are turning to Debt Relief Orders (DROs) to deal with their debt problems more so than any other age group. From a preliminary analysis of 44,000 DROs in England and Wales over the first two years since their introduction (April 2009), show that one in four people with DROs fall into this age group. DRO figures over the last two years show that one in three people under 25 who were given a DRO owed less than £5,000, whereas all other age groups typically owed more, with some 40 percent of over 25s owing between £10,000 and the maximum allowable debt under a DRO of £15,000. |
