Other Debt Solutions
If an IVA or debt management isn’t what you are looking for or not suitable for your current situation there are other solutions available.
If you have little or no money/assets to pay off your debts bankruptcy is an option available to you. Any one who owes money can petition for bankruptcy. The cost is around £680 and you’ll need to pay this upfront before you submit your application. Installemts may be available in certain situations. Debtlifeline do not organise bankruptcy, please visit moneyhelper.org for advice if this is a good solution for you.
Debt Relief Order
If you can’t afford to pay back your debts you can apply for a debt relief order. It is a cheaper option than bankruptcy, but has very stringent criteria and only available to people in certain circumstances. DRO’s are organised by licensed intermediaries. Debt Lifeline do not organise DRO’s, please visit moneyhelper.org for advice if this is a good solution for you