Debt Solutions Compared
Explore all UK debt solutions and find out how each compares to an IVA. Every situation is different - understanding your options is the first step.
Debt Management Plan (DMP)
An informal agreement to repay debts at a reduced rate. No legal protection but flexible.
Compare with IVABankruptcy
A formal insolvency process that writes off most debts but may require surrendering assets.
Compare with IVADebt Relief Order (DRO)
For people with low income, few assets, and debts under £30,000. Lasts 12 months.
Compare with IVADebt Consolidation
Combine multiple debts into one loan with a single monthly payment.
Compare with IVAFull & Final Settlement
Offer creditors a lump sum to settle debts for less than the full amount owed.
Compare with IVAAdministration Order
A court-based solution for debts under £5,000 with at least one CCJ against you.
Compare with IVA
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