Debt Management Plan


A Debt Management Plan aims to agree lower payments to your creditors. Your total debt payments are reduced to an amount you can afford. Debt management plans are also called a DMP.


If your debt payments are too costly, a DMP could help you. Debt management can be useful if your finances have become chaotic.


This option puts your unsecured debts in one place. You make a single payment each month. Debt experts deal with your creditors for you. Read more...


IVA (Individual Voluntary Arrangement)


An IVA is an Individual Voluntary Arrangement. It's a formal insolvency process and an alternative to bankruptcy.


They are available in England, Wales, and Northern Ireland. They are not available if you live in Scotland.


You repay what you can afford for an agreed period of time. This period of time may be 5 years but can be longer. In return, your creditors’ write-off the debt that remains unpaid. Write-off occurs if you complete the IVA. Read more...




Bankruptcy is a formal insolvency process.


Many view bankruptcy as a last resort. It is a serious route to take. However, bankruptcy may be your fastest and cheapest route out of debt.


The bankruptcy process differs in parts of the UK. If you live in Scotland, please read the relevant page in our Scottish debt solutions section. Read more...


Debt Relief Order (DRO)


Debt Relief Orders are a formal insolvency process. They help people with serious debt problems to move forwards. They're referred to as a DRO.


With a Debt Relief Order in place, creditors cannot act to recover debt. Discharge from the DRO process (and from your debts) takes place after a year.


The application fee for a DRO is £90. The bankruptcy fee in England and Wales is £680. It is a low-cost debt solution. Read more...


Debt Solutions in Scotland


Scotland has a different set of debt solutions to the rest of the UK.


These include trust deeds and the debt arrangement scheme (DAS). Scotland has its' own form of bankruptcy.


We describe each of these Scottish debt solution options in detail. Read more...


Debt Consolidation


Debt consolidation brings a number of debts into a single new loan.


It may reduce the full amount that you have to pay. This may be a good option if you have a debt problem, but it can be risky. Read more...


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