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Cutting Our Losses Report

http://bit.ly/1DdxqM7 A new report by Citizens Advice has revealed that creditors are causing ‘additional financial distress’ by continuing to collect debts despite the individual having a Debt Relief Order (DRO). Bureaux helped with 127,000 issues around DROs in 2014 and the research finds that 85% report clients being chased for payments despite the debts being listed in the DRO. Gillian Guy, chief executive of Citizens Advice, said: ‘A Debt Relief Order is a last resort for people in serious money worries.  It offers people a chance to get back on their feet and move towards a financially secure future.  Poor practices from creditors have meant that not everyone is feeling the full benefits of this debt remedy.’