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A recent blog entry on DROs highlighted some qualities of the new procedure, due to come into force on the 6th April 2008. The Law Society has now also issued guidance for solicitors on the new procedure. They DRO is summarised as:
"Debt Relief Orders are an alternative to bankruptcy for clients who have:
Creditors who are included in the DRO will be prevented from taking any action to recover their debts from the client. Generally the debts of the client will be discharged at the end of one year."
"BPIR is an excellent series, of interest to both corporate and personal insolvency lawyers,...