Debt Relief Order (DRO), A DRO is a formal insolvency solution for people on very low incomes with little or no assets., Debt Management Plan (DMP), A DMP is an informal agreement with creditors to pay back debts at an affordable rate., Individual Voluntary Arrangement (IVA), An IVA is a formal agreement to repay part of your debts over time, usually 5–6 years., Bankruptcy, Bankruptcy is a legal process for people who cannot realistically repay their debts.

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