Administration Order

What is an Administration Order?

An Administration Order is a type of insolvency – similar to Bankruptcy, Individual Voluntary Arrangements and Debt Relief Orders. If you have one, it will remain on your credit report for six years so unlike bankruptcy, you can’t get out of it within 12 months.

Administration Orders are available to those who have a judgment recorded against them, where their debts total no more than £5,000 and where you owe at least two companies. To apply, you must fill in form N92, which is available to download and print from gov.uk. The form requires you to outline your income and how much you can afford to pay, and the court will then decide whether to grant you an Administration Order.

Like other forms of insolvency, the main purpose is to draw a line under your current financial predicament and to protect you from your creditors pressing you for repayment. Once granted, creditors are not allowed to pursue you for debt.

One advantage of an Administration Order is that unlike bankruptcy, there is no up-front fee to pay, but the Courts take 10% of your total debts as a fee, so it’s not entirely free.

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