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.

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.

You may also have the option of reaching an informal agreement with your creditors.

Where you can get help

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

If you can’t pay off your debts, you can be made bankrupt.