Entering into a Debt Management Plan (DMP) will give you an opportunity to repay your debts at a rate you can afford.
A debt relief order (DRO) is a debt solution for those who have very little when it comes to assets. This is in instances where for example, people don't own their homes.
This could be a suitable debt solution if you have access to a lump sum of money, but it isn’t enough to repay all your unsecured debts in full. There are various options to repay the rest, depending on your financial circumstances.
An Administration Order is a formal, legally binding agreement made between you and your creditors that is approved by the court.
A self-employed IVA (Individual Voluntary Arrangement) is a legally binding agreement between you and your creditors. It helps you avoid bankruptcy.
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