Debt counselling

Available across the UK.

A StepChange DMP helps you repay debts by making one affordable payment each month.

A DMP is flexible, so the amount you pay can change depending on your circumstances.

Key DMP facts:

• Our DMPs are completely free. Every penny goes towards your debts
• In most cases, the people you owe stop interest and charges
• Our clients have repaid millions of pounds with DMPs since 1993

Find out more about DMPs.

Available in England, Wales and Northern Ireland.

An IVA is a legally-binding agreement that helps you pay back a reduced amount to settle your debts.

It usually runs over five or six years. The rest of the debt is written off at the end.

Key IVA facts:

• You make one affordable monthly payment
• We send the money to the people you owe
• Our IVA fees are included in your monthly payment
• The people you owe can no longer contact you

Find out more about our IVAs.

Available in England, Wales and Northern Ireland.

A DRO might be right for you if you owe less than £50,000, have a low income and very few assets.

Key DRO facts:

• You do not pay anything towards your debts for 12 months, after which your debts will be written off
• You pay a one-off fee to the Insolvency Service
• We can help and support you through the application process

Find out more about a DRO and the risks you must take into account.

Available in England, Wales and Northern Ireland.

Bankruptcy is a way of managing large debt if you cannot pay it back in a good amount of time.

Find out about bankruptcy in Scotland.

Key bankruptcy facts:

• Bankruptcy gives you a fresh start
• All of your unsecured debts are written off
• You pay a one-off bankruptcy fee to the county court
• Bankruptcy normally lasts for 12 months
• It appears on your credit file for 6 years

Find out more about bankruptcy.

Available across the UK.

Equity release helps homeowners aged 55 or over unlock money from their homes.

You could get a tax-free cash lump sum to use for:

• Debt consolidation
• Home improvements
• Supplementing your income

Find out more about equity release.

This solution is available across the UK.

Changing your mortgage may open up ways to manage your money better. When you complete a debt advice session with us, we may recommend equity release or remortgaging as a way to deal with your debts. We would then let you know so you can find out more about how this works.

Find out more about mortgage advice.

Under the DAS you can set up a debt payment programme (DPP).

This helps you repay debts over a realistic amount of time.

Key DPP facts:

• Your interest and charges are frozen
• The people you owe cannot take any further action during your DPP
• You make one affordable payment each week or month
• We set up and manage your DPP completely free of charge

Find out more about a DPP under the Debt Arrangement Scheme (DAS).

MAP bankruptcy writes off debts you cannot afford to pay.

Key MAP facts:

• You must owe between £1,500 and £17,000 to qualify
• You pay a £50 fee to apply
• MAP is logged on your credit file for 6 years

Find out more about minimal assets process (MAP) bankruptcy.

Sequestration writes off debt that would take many years to clear.

Key sequestration facts:

• You must owe more than £1,500 to qualify
• You must live in Scotland or have lived in Scotland within the past year
• There is a £200 fee

Find out more about sequestration.

A protected trust deed is a legally binding arrangement.

You make reduced monthly payments for 4 years.

Key trust deed facts:

• A trust deed stops court action if diligence has not started yet
• You may have to sell assets (apart from one car worth less than £3,000)
• A trust deed goes on your credit file for six years

Find out more about trust deeds.