1. Overview

If you owe people money (your ‘creditors’) you can make arrangements to pay your debts. Your options depend on the amount of money and assets you have, and whether you’ve gone bankrupt.

What to do if you’re not bankrupt

You can pay your debts in instalments by setting up:

You can apply for a Debt Relief Order or Bankruptcy Order if you can’t pay your debts because you don’t have enough money or assets you can sell.

In Scotland you can arrange a Debt Payment Programme from the Debt Arrangement Scheme.

What to do if you’ve gone bankrupt

You can apply for a Fast-track Voluntary Arrangement if you’ve been made bankrupt. Your assets are sold to pay your debts and the bankruptcy is cancelled.

Where you can get help

The Money Advice Service has information about debt management and offers free debt advice.