If you’re finding it difficult to take back control of your finances, it's important to take advice as soon as possible. There are many steps that you can take to help you manage your debts.
These include informal solutions like budgeting and setting up payments directly with creditors as well as formal insolvency procedures like bankruptcy, Individual Voluntary Arrangements and Debt Relief Orders.
A Debt Relief Order is a formal insolvency procedure and a way of dealing with unmanageable debt. If you have less than £30,000 of debt, relatively few assets and a lower income, you may be able to apply for a Debt Relief Order. Speak to our Money Advice and Guidance team to discuss your situation and see if this is an option for you.