The following information is general and educational only. Clear Path Consultants does not recommend or advise on debt solutions. Eligibility and suitability can only be assessed by an FCA-authorised adviser.
An IVA is a legally binding agreement with your creditors that allows you to repay what you can realistically afford. After completing the agreement, any remaining eligible debt may be written off.
A Debt Management Plan is an informal arrangement where reduced monthly payments are made based on your affordability. It helps regain control without entering a formal insolvency solution.
A Trust Deed is the Scottish equivalent of an IVA. It allows eligible individuals to repay manageable monthly payments with remaining debt written off after completion.
A DRO is designed for people with low income, minimal assets, and relatively small debts. If approved, qualifying debts may be written off after 12 months.
Bankruptcy can provide a fresh financial start for those who have no realistic way of repaying their debts. We always explore alternative solutions first.
Debt consolidation combines multiple debts into a single monthly payment, making repayments easier to manage depending on eligibility.
Debt solutions are subject to eligibility and individual circumstances. Fees may apply. Your credit rating may be affected. We work with FCA-authorised partners.