Dealing with your debts - compare solutions

We know that when it comes to debt problems, everyone's situation is different. That's why we offer a comprehensive range of debt solutions - so you could find a way to manage your unsecured debt that's right for you.

Our expert debt advisors are on hand to give you the advice you need, so you can find the most suitable way of dealing with your unsecured debts, at a pace that fits in with your budget.

Call us today on 0800 195 2911 for an expert opinion, or fill in your details in the form above to get a basic idea of what solution could be best for you - in just a few seconds.

    Debt management

    lower your monthly payments to a level that fits your budget
    • If your lenders agree, repay your debts with a regular payment per month, designed to fit around all your outgoings
    • We'll deal with your lenders so you don't have to
    • Get back in control of your unsecured debts without the need of a loan
    • Only suitable if you can afford to pay back all your debts in a reasonable time
    • Lenders are not legally bound to agree to debt management and may still contact you
    • Can affect your credit rating in the medium to long term.
    • There may be other options that are more suitable
    • Can cost more overall due to interest, as you'll be in debt for longer.

    Debt consolidation

    simplify your finances
    • Lower your monthly payments
    • Consolidate multiple debts into one
    • You could reduce the interest to pay on your debt
    • Not suitable if you have serious debt problems
    • If your credit rating is poor, you could pay more interest
    • You may have to pay a fee for the loan
    • Can be more expensive in the long term
    • Can take you longer to repay your debts in full
    • Your home couldbe at risk if you use it as security against your loan


    Repay your unsecured debt in 5 years
    • If your lenders agree, have single monthly payments that leave enough room for all your secured debts and essential living costs
    • An alternative to going bankrupt
    • Repay your unsecured debts in five years (in most cases)
    • It does not cover secured debts so you will have to keep on paying them
    • Your credit rating will be affected for six years
    • Your name will be entered on to the Insolvency Register
    • If you're a homeowner, you may have to release some equity
    • If your IVA fails then it could lead to bankruptcy


    a low-cost alternative to bankruptcy for people with minimal assets
    • Have your monthly unsecured repayments frozen for 12 months
    • Stop your unsecured lenders from taking legal action
    • Write off any included unsecured debts after a year
    • Your credit rating will be affected for six years
    • Your details will be recorded on the public Insolvency Register
    • You will have to pay a 90 fee


    a way out of debt for people who simply can't afford to repay what they owe
    • A date when you'll know you'll be free of your debts - usually after 12 months
    • Protection from your unsecured lenders
    • A chance to make a new start with your finances once your bankruptcy has finished
    • Your home (if you own one) and valuable assets may be sold to repay your debts
    • Your name will be published and appear on the Individual Insolvency Register
    • There are court fees of over 705 to pay
    • Your credit rating will be seriously affected in the medium-to long-term
    • Prevented from holding certian jobs

    Scottish solutions

    If you live in Scotland and you're struggling with your unsecured debts there are a number of debt solutions that are exclusively available to Scottish residents - depending on what situation you're in.

    Trust Deed

    debt help for Scottish borrowers with unmanageable unsecured debts of at least 5,000 or 10,000 if they are joint debts
    • Have one monthly payment calculated to match your circumstances
    • An alternative to sequestration/bankruptcy
    • Pay off your unsecured debts in four years
    • Your credit rating will be affected for six years
    • Homeowners may be required to release some equity
    • If a Trust Deed fails it can lead to bankruptcy.


    smaller payments for Scottish residents struggling with their debts
    • Lower monthly payments that you have enough disposable income to pay
    • Protection from your unsecured lenders
    • Interest and charges on your unsecured debts frozen
    • Your credit rating will be affected for six years
    • You'll be in debt for longer
    • Lenders do not have to agree to it, though in some circumstances, the DAS Administrator can tell them to accept.


    The Low Income, Low Assets route into bankruptcy
    • Enter bankruptcy without your lenders taking action first
    • Protection from your unsecured lenders
    • Write off your debts on successful completion (usually after a year)
    • Not available if you own property or land, or have assets worth more than 10,000 in total (or 1,000 each)
    • Your credit rating will be affected for six years
    • Details will be entered on a public register

    Get the debt help you need - whatever your situation

    Taking action with your debts sooner rather than later could stop your problems getting any worse - and get you on the road to managing your debt.

    We understand that debt problems come in all different shapes and sizes, and the sooner you get some debt advice, the sooner you can get your finances back under control.

    Get expert

    debt advice

    on 0800 195 2911
    Apply for a free call-back

    Debt solutions subject to conditions and acceptance. Credit rating may be affected in the medium to long term. Fees payable if continuing services provided. Repaying debt over longer may increase the total amount to be repaid.

    Initial advice will be provided by Gregory Pennington Limited who are authorised and regulated by the Financial Conduct Authority. In respect of consumer - credit related activities. Company reg no: 2855061.
    Initial calls and assessment will be handled on our behalf by Gregory Pennington Limited, part of Think Money Group.

    Looking for debt advice?

    Speak to an expert advisor free on 0800 195 2911 or fill in the form and we'll call you back at a time that suits you.

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    Debt help from our experts

    "If you're in debt, don't face it alone. The right help can make all the difference."
    Melanie Taylor - Debt expert

    I can no longer afford my agreed payments

    A debt management plan could be the ideal way of reducing your unsecured debt payments to a level you can afford - with expert help and advice along the way.

    We will:

    • Negotiate with your unsecured lenders for lower monthly payments. These will mean it will take longer to repay your debts, and may cost you more in interest.
    • Deal with any phone calls and letters from your lenders - although they may still contact you directly.
    • Give you any expert advice you need while your plan is in place

    If you're in this situation and you live in Scotland, the Debt Arrangement Scheme (DAS) could also help you reduce your payments to a level you can afford.

    More on debt management plans »

    I want to make my finances simpler

    A debt consolidation loan combines multiple debts into one - giving you one affordable payment to keep on top of per month.

    Consolidating your debts means:

    • You'll have just one payment to budget for every month
    • You'll deal with just one lender - there may be a fee for arranging your loan
    • You'll be able to arrange payments you can afford, but if you use your home as security for the loan it may be at risk if your fall behind with repayments.

    More on debt consolidation »

    I can't afford to repay what I owe in a realistic amount of time

    An IVA (Individual Voluntary Arrangement) could be a way to repay what you can afford towards your unsecured debts - and write-off whatever you can't on successful completion.

    If you enter an IVA, you will:

    • Commit to make a reduced payment per month, calculated to leave enough room for your essentials
    • If you're a homeowner, your house will be protected - though you may need to release some equity during the final year
    • Have a date you'll be free of your debts - usually after 5 years. However, if your IVA fails then you may face bankruptcy

    If you're a Scottish resident, a Trust Deed could help you in much the same way - though in most cases, a Trust Deed only lasts for four years but can be extended if you are unable to release equity in your home.

    More on IVAs »

    I have a low income and few assets - and can't afford to pay my debts

    A DRO (Debt Relief Order) could provide the best way of getting back on top of your debt problems if you can't afford to repay what you owe - and you also have a limited income and few valuable assets.

    If you enter a DRO, you will:

    • Have your monthly unsecured debt payments frozen for a year
    • Be protected from any further action from your unsecured lenders
    • Have the portion of the debt you can't afford written off after 12 months

    More on DRO »

    I simply can't afford to repay what I owe

    If you find that you simply can't afford to repay your debts in any kind of timeframe, bankruptcy could be the answer.

    Going bankrupt is a serious step to make and means:

    • You'll have a date you'll be free of your debts - typically after a year - but you will probably have to use many of your assets, including your home, to repay your lenders
    • You'll be protected from your lenders, but your name will appear on the Individual Insolvency Register
    • You'll have a 'light at the end of the tunnel' for your debt problems, though your credit rating will be seriously affected for six years

    If you live in Scotland, and you need to go bankrupt but your lenders have yet to take action, the LILA (Low Income, Low Assets) route into bankruptcy could be your best approach.

    More on bankruptcy »

    I don't know how to deal with my debts

    Losing control of your finances can be difficult to face - but easily done. If you're struggling to cope with your debts but you aren't sure how to tackle them, getting some advice could really help you.

    We provide expert advice without any obligation - so you can be confident you're getting the help you need from a company you can really trust.

    Speak to one of our experts on 0800 195 2911 or leave your details with us and we'll get back to you.

    More on debt advice »

    Get expert, no-obligation debt adviceIf you would like more information, talk to our team today.

    Speak to an expert debt advisor on:0800 195 2911

    Apply for help online
    • Get advice you can trust on repaying unsecured debts
    • More affordable monthly payments, though it may
      take longer to repay your debts
    • Regain control of your finances, but your credit
      rating may be affected

    Get debt help today: 0800 195 2911

    Try our debt solution finder

    Answer a few simple questions and find out which debt solutions could help you, based on your circumstances.

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    Please remember, this is just an information tool. We would always recommend you speak to a debt advisor for the most appropriate way to resolve your debt problems.
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