Compare debt solutions

It can sometimes be confusing when presented with a number of different debt solutions to decide which one is the best option for you. We've created the table below to help you compare debt solutions, from IVAs and Debt Management Plans to debt consolidation loans and bankruptcy. The following comparison table should help you make your decision.

Question IVA Debt Consolidation Debt Management Bankruptcy Debt Relief Order
Will my debts be wiped clear within an agreed period? yes no no yes yes
Will interest be frozen? yes no sometimes yes yes
Will charges stop? yes no sometimes yes yes
Will my monthly repayments be reduced? yes maybe yes yes yes
Will I be protected from unsecured creditors? yes no no yes yes
Can I keep my house? yes* yes* yes* no n/a
Are all creditors legally bound to write off debt I can't afford? yes no no yes yes
Will creditor action stop? yes no sometimes yes yes
Will my credit-rating be damaged? yes maybe probably yes yes
Is it a confidential procedure? yes yes yes no yes
Will I avoid the stigma of bankruptcy? yes yes yes no yes
Is the procedure dealt with by a professionally qualified and licensed specialist in personal debt? yes no sometimes yes sometimes

*as long as you maintain your mortgage payments

To find out in more detail which of these options suits your current financial situation complete our short online contact form now.

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