Administration – What is a composition order?

A composition order is a condition which c an be applied to an Administration Order.

The court usually awards composition orders to individuals who are only able to make small monthly payments and, as a result, would be paying of the debt for a very long time.

Under these circumstances, a composition order states that the individual pays back a percentage of their debt over a specified number of years. (The time span for a composition order is usually three years.)

The percentage of your debt you have to pay back depends on a number of factors, such as the amount you owe and what your monthly payments are.

More information

• Administration – What is administration?
• Administration – The administration process
• Administration – What is a composition order?
• Administration – What is an administrative receiver?
• Administration – Voluntary and involuntary administration
• Administration – The advantages of administration
• Administration – The disadvantages of administration
• Administration – I can’t afford to make my administration payments
• Administration – The alternatives to administration
• Administration – Insolvency and administration

Downloads

• Administration Fact Sheet (Insolvency Helpline)