If you have no real way of paying off your debts and few assets, then bankruptcy could be a suitable option.
A debt management plan (DMP) is a flexible agreement to pay off your debts at a rate you can afford.
A debt relief order (DRO) is a way to deal with your debts if you owe £30,000 or less, you’re not a homeowner, you don’t own other things of value and you have very little spare money at the end of the month.
An Individual Voluntary Arrangement (IVA) is a legal agreement that enables individuals to make affordable monthly payments to their creditors over a fixed period.
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