Debt Solutions we can advise you on: IVAs, DMPs, Bankruptcy, and more Below you’ll find all of the debt solutions services we offer, and you can find out how each one works. Not every plan will work (or be suitable) for your circumstances; the right debt solution for you will depend on what you want from your plan as well as factors such as your income and debt level. Don’t forget that we give free, award-winning debt solutions advice too, so if there’s anything you’re unsure of then feel free to get in touch.
An Individual Voluntary Arrangements (IVA) is a legally binding arrangement between you and your creditors – you pay what you can afford each month for a set period of time (normally 5 years) and providing you keep to the agreement your creditors will write off the rest of your debts.
Learn about an IVA
A DMP is an arrangement between you and your creditors which we manage for you. We will liaise with your creditors and arrange a payment plan that you can afford.
Learn about a DMP
Bankruptcy is a type of insolvency that involves applying to the court in order to clear your debts.
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A self-employed IVA is a debt solution that allows you to keep your business operating while repaying your debts usually over 5 years (subject to creditor approval)
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This is a partial offer to repay to your debts. It's made under the condition that your creditors agree to write-off the remainder.
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A Trust Deed allows you to make reduced payments towards your debt –usually over 4-5 years, based on what you can afford (subject to creditor approval).
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An alternative debt solution in Scotland is the Debt Arrangement Scheme (DAS). This is a government-run debt...
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Sequestration is a debt solution available to Scottish residents only. If you have a minimum debt level of £3,000 and are struggling to make your creditor payments it could be an option for you.
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An administration order is where the courts place an order to cover all of your outstanding debt. You will make a monthly payment to the court and the court will issue those payments on a pro-rata basis to each of your creditors.
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Debt Relief Orders were introduced to England, Wales and Northern Ireland in 2009 to provide a quicker and simpler alternative to bankruptcy for people who have limited means;
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Want to discuss debt solutions further? Use our online debt tool to find out your options
