What Is The Difference Between Bankruptcy And A Debt Relief Order?

What is the difference between bankruptcy and a debt relief order?

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Min Austria
Assistant at Ascent Law LLC

The main difference between a bankruptcy and a debt relief order is that, a bankruptcy lasts for six years, whereas a Debt Relief Order lasts for three years.

With a Debt Relief Order, creditors can't contact you or use the courts to recover any money they're owed by you. But they can still take action against your partner if they want to chase someone else for the money.

With bankruptcy, your assets – such as property, savings and investments – are protected from your creditors. Your income is also safe from garnishee orders, which means that an employer cannot take any money from your pay packet to repay a debt.

If you have any questions or need a Bankruptcy Lawyer, please call this law firm for a free consultation.

Ascent Law LLC

8833 S Redwood Road Suite C

West Jordan UT 84088

(801) 676-5506

Utah Lawyer for Divorce Business Bankruptcy Probate Estates
Ascent Law helps you in divorce, bankruptcy, probate, business or criminal cases in Utah, call 801-676-5506 for a free consultation today. We want to help you.
https://www.ascentlawfirm.com/

Location: Pleasant Grove, UT, USA

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