Compare debt solutions
All options side by side. Descriptions are honest guidance; adviser-partner matching goes live once connected.
| Option | Known for | |
|---|---|---|
| Debt Consolidation Loans | Combine multiple debts into one fixed monthly payment | View |
| Individual Voluntary Arrangement (IVA) | Fixed payments for 5 years, remaining debt written off | View |
| Debt Management Plan | Informal repayment plan — pays debts in full, over more time | View |
| Debt Relief Order (DRO) | For qualifying debts of £50,000 or less | View |
| Balance Transfer Credit Cards | Move existing card debt to a 0% introductory rate | View |
| Bankruptcy | A formal, last-resort route to write off unaffordable debt | View |
International markets
Australia →
Australia’s equivalent to a UK IVA is a Part IX Debt Agreement, overseen by the Australian Financial Security Authority (AFSA)*.
| Option | Known for |
|---|---|
| Part IX Debt Agreement* | Formal agreement to pay an affordable amount, overseen by AFSA |
| Bankruptcy | Typically discharged after 3 years in Australia |
| Personal Insolvency Agreement (Part X)* | More flexible formal alternative, usually for larger or more complex debts |
| Free financial counselling | National Debt Helpline offers free, independent counselling for eligible Australians |
US →
The US debt-relief system centres on four main routes: Debt Management Plans, Debt Consolidation, Debt Settlement, and Chapter 7/13 bankruptcy.
| Option | Known for |
|---|---|
| Debt Management Plan (DMP) | Repay debts in full over a longer period, via a credit counselling agency |
| Debt settlement | Negotiating a lump-sum reduced payoff, usually damages credit further short-term |
| Chapter 7 bankruptcy | Liquidation — stays on credit report ~10 years, typical costs $1,500-5,000 |
| Chapter 13 bankruptcy | Court-supervised repayment plan, usually 3-5 years |
Canada →
Canada’s equivalent to a UK IVA is a Consumer Proposal, arranged through a Licensed Insolvency Trustee.
| Option | Known for |
|---|---|
| Consumer Proposal | Can reduce debt by 50-80%, arranged via a Licensed Insolvency Trustee |
| Bankruptcy | Overseen by the Office of the Superintendent of Bankruptcy |
| Credit counselling (non-profit) | Free or low-cost budgeting and debt-management advice |
| Debt consolidation loan | Combines multiple debts into a single, often lower-interest, repayment |
Real UK debt advice & solution providers
Free debt advice charities
StepChange Debt Charity
Free
The UK’s largest debt charity — free debt advice and fee-free debt management plans, by phone or online.
National Debtline
Free
Run by the Money Advice Trust — free, confidential debt advice by phone, webchat, and its My Money Steps tool.
Citizens Advice
Free
Free, independent advice on debt solutions, budgeting and dealing with creditors, online and in person UK-wide.
MoneyHelper
Free
Government-backed guidance from the Money and Pensions Service, with a free debt adviser locator covering the whole UK.
Christians Against Poverty (CAP)
Free
UK charity offering free, in-person debt help and budgeting support through local church partnerships since 1996.
Regulated fee-charging & commercial providers
These firms are authorised and regulated by the FCA to give debt advice and arrange formal solutions like IVAs and DMPs. Fees and funding models vary by provider — always check the total cost before signing anything.
PayPlan
FCA regulated
One of the UK’s largest providers of fee-free debt management plans, funded by contributions from creditors rather than client fees.
Harrington Brooks
FCA regulated
FCA-authorised provider (FRN 660923) of debt management plans and IVA support, operating since 1998.
SmartCredit
Partner offer
US credit monitoring and reporting service that tracks your credit score over time as you work to reduce debt, per its own site.