Our Debt Solutions
Debt solutions can help you to better manage and control your debts. At National Debts Line UK, we can help you find a debt solution that’s right for you, with the advice and support you need from our team.
Debt Management Plan (DMP)
A debt management plan (DMP) is a debt solution which can help you to pay back what you owe, at a more affordable rate. It can help you to reduce your debt payments into one affordable amount.
Administration Order
Administration orders are a debt solution which involves an agreement being made between you and your creditors about paying back what is owed over a specified period of time. An administration order is a legal debt solution that creditors and courts are required to adhere to.
Debt Relief Order
A debt relief order (DRO) is a debt solution which may enable you to get most of them written off. It is a debt solution for those who owe less than £30,000 (£20,000 or less in Northern Ireland), but is one which needs to be approved.
Bankruptcy
If you can’t pay your debts and the amount you owe is more than the value of your belongings, you may be able to declare bankruptcy – but it’s important to make sure it’s the right debt solution path for you.
Trust Deed (Scotland only)
A trust deed is a voluntary debt solution agreement between you and your creditors, where you agree to pay a regular amount towards your debts. Any debts remaining at the end of the specified period of time may then be written off.
Debt Arrangement Scheme (Scotland Only)
The debt arrangement scheme is a debt solution which allows you to apply for a debt payment programme, enabling you to repay any debts by making affordable monthly payments.
IVA
Individual voluntary agreements (IVA) are a debt solution which enables you to lower debt repayments for unsecured debts, fitting them in around any other financial commitments you may have.
Breathing Space
The Breathing Space scheme helps people under financial pressure by giving them extra time to manage their debts without creditor action. While not a debt solution, it provides temporary relief to explore repayment options.