debt solutions
Every MoneyBrink guide tagged "debt solutions".
Debt Management Plan (DMP)
A Debt Management Plan is an informal arrangement to repay unsecured debts at a monthly rate you can afford. Learn how DMPs work, who they suit and what to consider.
7 min readRead FormalIndividual Voluntary Arrangement (IVA)
An IVA is a legally binding agreement to repay a portion of your debts over a fixed period. Understand how IVAs work, eligibility, costs and consequences.
9 min readRead FormalBankruptcy
Bankruptcy is a legal process that writes off most debts when you cannot repay them. Understand how bankruptcy works in the UK, the consequences and alternatives.
8 min readRead FormalDebt Relief Order (DRO)
A Debt Relief Order is a formal solution for people with low income, low debt and few assets. Learn how DROs work, eligibility criteria and what happens to your debts.
7 min readRead FormalAdministration Order
An Administration Order is a court-based arrangement for people with multiple debts and a county court judgment. Learn how it works, eligibility and alternatives.
6 min readRead Legal ProtectionBreathing Space (Debt Respite Scheme)
Breathing Space is a government scheme giving you legal protection from creditor action for up to 60 days while you get debt advice. Learn how it works and who qualifies.
5 min readRead InformalDebt Consolidation
Debt consolidation combines multiple debts into a single loan or payment. Understand the pros and cons, when it makes sense and when to avoid it.
6 min readRead FormalIVA Pros and Cons: Is an IVA Right for You?
The honest advantages and disadvantages of an IVA in the UK, including debt write-off, fees, credit impact and what happens if you miss payments.
9 min readRead FormalIVA vs DMP vs DRO vs Bankruptcy Compared
A side-by-side comparison of the main UK debt solutions: IVA, debt management plan, Debt Relief Order and bankruptcy, with costs, length and consequences.
10 min readRead Debt AdviceCan Debts Be Written Off in the UK?
When can debt be written off in the UK? The main routes, including formal solutions, creditor write-offs, unenforceable debts and what it costs you.
9 min readRead Debt AdviceDebt Help in Scotland and Northern Ireland
How debt solutions and advice differ in Scotland and Northern Ireland, including trust deeds, the Debt Arrangement Scheme, DROs and where to get free help.
9 min readRead