Debt Solutions

Well Done!

Although it may not feel like it, just by being here, you have already taken your first step to clearing your debt problems. Here is some information about some of the debt solutions our advisers might suggest for you.

What’s Next?

Simply complete the contact form and allow one of our trained advisers to give you a call and talk to you in further detail explaining all of the options available for your particular circumstances. We understand that you’re possibly a little nervous at the thought of talking to someone, and whilst we can’t provide you with specific advice without talking with you, we will do our best to highlight the various solutions and their pros and cons. When you’re ready, we’re here for you.

Loading

Popular Debt Solutions

Debt Management Plan (DMP)

Usually suitable for people with unsecured debts totalling under £15,000, a debt management plan (DMP) is an informal way to repay your creditors by making a single, affordable payment every month. As DMPs are flexible, the amount you pay can change depending on your financial circumstances.

Individual Voluntary Arrangement (IVA)

An individual voluntary arrangement (IVA) is a legal procedure for people in financial difficulties with unsecured debts. It is a legal agreement between you and your creditors to only pay what you can actually afford to pay off your debts.

Bankruptcy

If your debt has reached an unmanageable level, bankruptcy is one way of managing it, especially if you are in no position to pay off your debts in a reasonable time frame.

Other Debt Solutions

No matter what your debt trouble, there is a solution for you!

Debt Relief Order

A debt relief order (DRO) is a formal debt relief option to help repay your debts if you have few assets and a low debt level.

Debt Arrangement Scheme

An debt solution for the residents of Scotland, a debt arrangement scheme (DAS), lets you repay your creditors with just one monthly, affordable payment.

Sequestration

Sequestration is the Scottish equivalent of bankruptcy, and is to be used when you can no longer meet the agreed repayment on your debts.

Protected Trust Deed (PTD)

Only for resident of Scotland, a protected trust deed (PTD) is similar to an IVA in that it is a legally-binding agreement between you and your creditors, whereby you make one, affordable monthly payment.

Money Advice Service

Free Debt HelpAlthough there is no cost in talking to Debt Assist UK and there is absolutely no obligation to use our services if you do so, we would like to take this opportunity to point you in the direction of the Money Advice service for free debt help and advice. You should also read the government’s guide to paying off your debts here.