Debt Management consolidates debt into one low affordable payment.
A Debt Management Plan (DMP) allows you to deal with your unsecured debt by making repayments you can realistically afford once you have met your living expenses.
Write off the debt you can't afford with a ClearDebt IVA.
An Individual Voluntary Arrangement (IVA) is a formal agreement between you and your creditors whereby you repay what you can afford, usually over 60 months. After which, the outstanding debt is written off.
Bankruptcy is for individuals with debts that they cannot pay.
Bankruptcy has restrictions and is often the last resort. Bankruptcy is usually applied when no alternative debt solution can be offered to your creditors.
Debt Relief Orders are a way to deal with your debts if you have little or no assets and debts under £20,000.
A Debt Relief Order is a formal insolvency process which lasts for a period of 12 months, at the end of which the debt owed will be written off.
Find free and impartial debt advice
At Abacus we never charge for debt advice given but we do charge a fee for the services we provide.
The Money Advice Service is an impartial service set up by the Government. You can find free to consumer debt advice organisations by visiting the Money Advice Service.
Debt news & advice
More than three-quarters of UK adults haven't had a conversation with their family members regarding inheritance after they pass away, now research has shown.
Thousands of homeowners are incorrectly assuming that they're stuck in their current home insurance policies, a new study has shown.
The Millennial generation is suffering more from inflationary pressures than any other, analysis from the first of Fidelity International’s generational inflation series has shown.