Debt Default Release Order

There is a great post at Money Beagle about debt relief orders and the type of person that would benefit from using such a service. Debt relief orders are alternatives to bankruptcy that do not cause quite the destruction to your credit that an outright bankruptcy would. Also, debt relief orders are most useful when you have an overwhelming, yet not grotesquely large, amount of debt to pay off. These products are designed for people who are in such awful financial shape that no realistic plan could ever enable them to pay off their debt fully--let's say you have $100,000 in credit card debt and you are middle-aged and earning $35,000 per year. Hopefully, you'll never find yourself in the type of situation where you have to seriously consider a debt relief order. But, as we all well know, life happens, and sometimes we have to make decisions where we have to choose the lesser of two evils. My area of expertise is definitely not debt relief orders, so if you want to read a more authoritarian source on the subject, be sure to check out this guest post at Money Beagle: http://www.moneybeagle.com/2011/06/what-exactly-is-debt-relief-order.html