An administration order is a court order designed to help when you are struggling with unsecured debt. With an admin order your debts are consolidated into a single monthly payment. This reduced payment is made to the court who then divide it between your creditors on a pro rata basis.
To qualify for an admin order you must -
Having an admin order will stop your creditors from taking legal action against you without first getting the courts permission. With the court dealing with your debts on your behalf calls from creditors and debt collectors should stop. Any interest or charges that was being added to your debts should also be stopped.
The administration order will remain in place until all of your debts are paid off in full. At any point if your circumstances change you can apply to alter the terms of the order. However your creditors are also able to ask for the payment amount to be reviewed if they think it is too low. Details of the admin order will be recorded on your credit file for six years.
If you are struggling with unsecured debt and would like to find out out more about adminstration orders please complete our enquiry form or call our freephone helpline 0800 043 50 43. Our experienced advisors are on hand to help people throughout the UK to solve their debt problems.
Answer a few simple questions and we'll help you find your solution.
Total unsecured debt : £4000