Discover the right debt solution for you

We understand how challenging debt can be, but there is a way forward. Whether you're struggling with payments or overwhelmed by interest, the right solution can make all the difference. Take a look at the solutions below, or let us guide you through the best choice for your situation. Our friendly team is here to offer free, confidential advice with no pressure.

IVA
Individual Voluntary Arrangement
A formal agreement to repay part of your unsecured debt through one affordable monthly payment, usually over five years. Interest and charges are frozen, and any remaining included debt is written off at the end.
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DMP
Debt Management Plan
An informal agreement to repay your unsecured debts in full through one affordable monthly payment. Many creditors agree to freeze or reduce interest, though there's no fixed end date.
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Bankruptcy
Formal insolvency solution
A formal insolvency process that writes off most unsecured debt, usually within around 12 months. Your assets and income are assessed, which may affect what you keep and your credit rating.
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DRO
Debt Relief Order
A formal insolvency solution for people with debts of £50,000 or less, minimal assets and low disposable income. Repayments are paused for 12 months and written off if your situation doesn't improve.
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Breathing Space
Temporary legal protection
Up to 60 days of legal protection from creditor contact and enforcement while you get debt advice. It's a temporary pause rather than a solution, giving you time to decide on next steps.
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MoneyHelper is an impartial service set up by the Government. They provide free debt counselling, debt adjustment and credit information services.