Bankruptcy alternatives - Alternative solutions
If you are looking for alternative solutions to personal Bankruptcy in the UK (or Sequestration in Scotland), then you may wish to consider one of the following options.
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Debt Management Plan Pay off debts without a loan, informal arrangement
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IVA or Individual Voluntary Arrangement Clear debts in 60 months or 5 years, an IVA is legally binding
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Debt Relief Order For people with debts under £15000
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Administration Order Structured repayment plan operated by the local county courts
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Protected Trust Deed An alternative to the English IVA, for Scottish residents only
For information on any alternative bankruptcy solutions to clear debts please contact our debt helpline in confidence using 0800 018 6868