Print This PageYou are eligible for an Administration Order if:
- You owe less than £5,000
- You have at least 2 creditors
- You have a County Court judgement
To obtain an Administration Order you need to fill out a N92 (You can obtain this from the Court).
The Court place the Administration Order over your debts. This means that any creditor (included in the order) cannot chase you for the amounts you owe.
Under the Order you pay an amount into Court each month and the Court pay this as an equal percentage (based on amount due) to creditors.
The Court deducts 10% from your payment as a handling charge.
You must inform the Court if your situation changes. If you don’t keep up with the payments the Order may be revoked.
This means your creditors become free to chase you directly for the amounts due.
If you can’t afford the payments set – advise the Court and they may reduce them for you.
Once your debt is paid off you can obtain a Certificate of Satisfaction from the Court. You can use this as proof that all debts have been paid. To obtain this, the Court will charge £10.
If you owe more than £5,000 a Debt Management Plan or an Individual Voluntary Arrangement may be a better Solution.
If you are unsure what option to read about or take please contact us to discuss your affairs confidentially and without obligation.
