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Bankruptcy
If you have debt problems, you may be thinking about the possibility of bankruptcy. It's important to understand what bankruptcy is and what alternatives exist. Bankruptcy isn't permanent so you may choose it as a way of clearing your debts and making a fresh start.
Insolvency Practitioner Directory
Use this service to find the contact details of insolvency practitioners (debt specialists) who have agreed to include their details on the directory. You can also find the contact details of their authorising body.
Recover debts owed to you
If a person or company owes you money and won't pay, there are ways of recovering the debt. The action you take will depend on the size of the debt and your ability to prove that you are owed the money.
Search the Insolvency Directory
Use this service to find contact details of insolvency practitioners (debt specialists) who have agreed to include their details on the directory. You can also find contact details of their authorising body.
Small claims process
The small claims process allows certain types of claims to be decided informally by the County Court, usually without the need of a solicitor or barrister.
Being in debt
If you're struggling to make ends meet and you're spending more money than you earn, you need to do something about it. Getting into debt could affect you for years to come.
Credit cards and debt
If you're over 18 and using a credit card, it's important not to run up large debts. The charges on amounts overdue are high and can quickly spiral out of control. If you're having problems meeting your credit card bills, there are steps you can take.
Repaying your debts
Once you've recognised that you're in debt, you can begin to plan how you'll repay it. The easiest way is to organise your debts and then prioritise which are the most important.
Consolidating debts
Consolidating debt is when you take out a single, new loan to pay off several existing debts. This can be a good way of taking control of your finances but you need to be careful. A consolidation loan may not always be your best option.
Debt management plans
If you’re struggling to meet repayments on money you owe, you could consider setting up a debt management plan. Check if it’s the right option for you and do some research to find the best provider to set up and run your plan.
Debt repayment options
If you're struggling with debts, they may seem impossible to manage. However, there are ways to get out of debt, no matter how bad the situation seems. There’s also plenty of free and independent advice available to help you manage your debt problem.
Individual Voluntary Arrangements (IVAs) – ways out of debt
Individual voluntary arrangements (IVAs) are a way of dealing with your debts. Find out how IVAs work, how they affect your credit rating and where to get help and advice.
Informal arrangements - ways out of debt
An informal arrangement (IA) is a way of dealing with your debts. You agree to make regular payments over a period of time to your creditors (people you owe money to). Find out how an IA works, how it affects you and where to get help setting one up.
