Options for dealing with debt
This section explains what you can do if you cannot afford your debts. It gives an overview of the options that you may have, but is not a suitable alternative to speaking to a specialist debt adviser.
- If you have debt problems you should speak to a debt adviser. This could be a national or local service.
- Draw up a budget sheet showing your income and essential outgoings. This will show you how much you have got left over to pay your debts. It will also help you understand what options are available for dealing with your debt.
- Separate your priority and non-priority debts. Priority debts are more important and you should deal with these first.
- Consider all of the options you have for dealing with your debt. A debt adviser will be able to explain how all the options will affect you.
This section covers:
- Getting help from a specialist debt adviser
- Priority and non-priority debts
- Free Debt Management Plan
- Administration Order
- Debt Relief Order (DRO)
- Individual Voluntary Arrangement (IVA)
- Requesting a write off
These pages are created by Rethink Mental Illness' Advice and Information Service. Last reviewed in July 2016. Next reviewed February 2018.