Learn about Debt Management Plans

Are there any alternatives to a Debt Management Plan?

Depending on your financial situation there may be other debt management options available to you:

• IVAs are an alternative for people with larger amounts of debt who may be eligible to write off a portion of their debt.
• Trust Deeds are very similar to IVAs in the way they work, but they are only available to residents of Scotland.
• Bankruptcy - this should really be the last resort as it has the most significant impact on your future earnings and credit rating.
• A Debt Relief Order, which is similar to Bankruptcy, is designed for people with less than £15,000 of debt, very low monthly disposable income and few assets to sell.

Use our free debt solution tool to analyse your debts, income, place of residence, job status and disposable income. We'll work out which of our debt solutions might be best for you and help get you started on the road to financial stability.

Find out what you qualify for »