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Debt solutions

A debt solution is a way to take control of debts. There are many different types. We can help you find the best solution for your situation.

Not all solutions will be right for you. Some may not be available in your country.

Debt advice will help you work out:

What you owe
What you can afford
Which solutions could help you, as well as:

How long they would take
What they would cost

In this section we talk about each of the debt solutions that we recommend as part of our service.

Administration order

A court managed payment plan. Sometimes debts are written off.

England, Wales, Northern Ireland

Arranging payment with creditors

Make an arrangement with your creditors to get payments up to date.

Throughout the UK

Bankruptcy

A legal process that writes off unsecured debts.

England, Wales, Northern Ireland

Debt arrangement scheme (DAS)

Covers debt payment programme (DPP). Pay back debts based on what you can afford.

Scotland only

Debt consolidation

Take out credit to reduce payment amounts or the number of people you owe.

Throughout the UK

Debt management plan (DMP)

An agreement to pay back money you owe based on what you can afford..

Throughout the UK

Debt relief order (DRO)

This is a way of cancelling (or 'writing off') your debts. This happens after 12 months..

England, Wales, Northern Ireland

Individual voluntary arrangement

An IVA is a formal agreement. You make an affordable monthly payment for five to six years or pay a lump sum.

England, Wales, Northern Ireland

Insolvency

Being insolvent means you cannot afford to pay your debts when they are due.

Throughout the UK

Minimal assets process (MAP)

MAP bankruptcy is for lower incomes and fewer assets.

Scotland only

Protected trust deed

This is a formal agreement. You make an affordable monthly payment for four years.

Scotland only

Releasing equity

Equity release takes money from your home to pay off debts.

Throughout the UK

Remortgaging to pay off debt

Replace your existing mortgage with a new one.

Throughout the UK

Selling assets to pay debts

An asset is anything you own of value.

Throughout the UK

Surrendering your property

You can sell your property if you cannot afford to make mortgage payments.

Throughout the UK

Settlement offers

Offer the people you owe a one-off payment to clear your debt.

Throughout the UK

Sequestration

This is a legal process that writes off your debts.

Scotland only

Temporary repayment plan

You make small monthly payments because you cannot afford more.

Throughout the UK

Unlock your options as a homeowner

Find out more about how to deal with mortgage arrears, fixed rate ending, how debt can affect your home - and more.

Read our guides

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