Learn about IVAs

What are the alternatives to an IVA?

Writing off a large amount of your debt is an appealing idea, but there are also some disadvantages to proceeding with an IVA. Fortunately, IVAs are not the only solution to debt problems.

• Trust Deeds are very similar to IVAs in the way they work, but they are only available to residents of Scotland.
• Debt Management Plans are a great alternative for people with smaller amounts of debt who just need a bit of help organising their finances.
• Bankruptcy, which should really be the last resort, 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.

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