Has anyone had a debt relief order?

I'm thinking of taking out a Debt Relief Order. Can anyone tell me what the pros and cons or them are?

• Answer:

  Hi there.. there are several pros of debt relief orders.. One is that it prevents the creditors from harassing you every now and then. And another good thing is that there are not monthly repayments. However, some of the cons are quite disappointing. One of which is bad credit. It will ruin your reputation in major credit corporations and it is very unsuitable for home owners. So think again. If you want to live a debt free life, why not try debt consolidation so that you can pay off your debts. There are companies that let you apply for a loan to pay for your debts so you would not have to deal with a debt relief order.