Debt Management Plan

  • Monthly payment as small as £75 for all your debts
  • Credit file may be affected for up to 6 years
  • Cannot add secured or current household debt to plan (gas, water, etc)
  • Plan lasts until debts are paid in full
  • Not legally binding

Individual Voluntary Agreement (IVA)

  • Write off up to 80% of your debt
  • Stops any creditor collection activity
  • Consolidate all debts into 1 payment
  • Details will be recorded on the insolvency register
  • Homeowners may need to release equity from their homes
  • Failure to comply with the IVA terms may lead to bankruptcy
  • Credit file may be affected for the term of the plan

Other options

  • Administration Order
  • Protected Trust Deed
  • Debt Arrangement Scheme
  • Minimal Asset Process
  • Debt Relief Order
  • Sequestration


  • Debt free in 12 months
  • You may have to relinquish assets including car and home
  • Any excess income paid to your creditors
  • Fresh financial start
  • All bank accounts frozen
  • Can affect current and future employment
  • You may have difficulty obtaining credit in the future

Do you qualify for any of these Plans?