Debt Management Plans

Debt Management consolidates debt into one low affordable payment.

A Debt Management Plan is an informal agreement made with your creditors to pay a monthly amount which you can afford. Normally, you will repay what you can in monthly instalments until your debts have been paid in full.

IVA Debt Solutions

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 is the status given to a person who are unable to pay their debts, or are insolvent. In order for you to become bankrupt a court must make a Bankruptcy Order against you following the presentation of a Bankruptcy Petition.

Debt Relief Order

If you have access to a lump-sum, a full and final settlement may be the best course of action.

A DRO is a formal arrangement which last for a minimum of 12 months, at the end of the DRO the debt owed will be settled. Normally, if you successful complete your DRO you will pay back less than was originally borrowed.

Debt news & advice


Find the right solution for you

There is a positive way forward, whatever your circumstances. Abacus can help you get back in control of your finances.

Call us FREE on 0800 043 2444* for confidential advice

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