Check your debt options and get practical help
Understand your position, compare the next steps and use practical tools without a credit check.
✓ No impact on credit score ✓ Takes 2 minutes ✓ Completely confidential
Independent Information
We're not FCA authorised. We provide general guidance and may refer you to FCA-authorised partner firms for regulated advice.
No Credit Impact
Free eligibility check won't affect your credit score
Licensed Insolvency Practitioners
We connect you with Licensed Insolvency Practitioners regulated by the IPA, ICAEW, and ACCA
UK Debt Solutions Explained
These are different types of debt solution with different legal effects, eligibility rules and risks. Start with the plain-English explanation, then read the full guide before deciding what may fit your circumstances.
Individual Voluntary Arrangement (IVA)
An Individual Voluntary Arrangement (IVA) is a formal agreement with your creditors to repay an affordable amount over an agreed period. If approved and completed, qualifying unsecured debt included in the IVA can be written off. Learn how an IVA works, including eligibility, fees and the effect on your credit file.
Key Benefits:
- Write off unaffordable debt
- Interest and charges are generally frozen if approved
- Can provide protection from included creditors
- One affordable payment
Debt Management Plan (DMP)
A Debt Management Plan (DMP) is an informal repayment arrangement where you make reduced monthly payments towards unsecured debts based on what you can afford. Learn how a DMP works, including what creditors may still do.
Key Benefits:
- Reduce monthly payments
- May reduce collection contact
- Flexible terms
- No legal commitment
Debt Relief Order (DRO)
A Debt Relief Order (DRO) is a formal insolvency solution for eligible people with qualifying debts, low spare income and limited assets. It can freeze action on included debts during the DRO period and may write those debts off at the end if the conditions are met. Eligibility rules differ by jurisdiction.
Key Benefits:
- Write off qualifying debts
- 12-month process
- Free to apply
- Included debts are generally discharged at the end if conditions are met
Bankruptcy
A formal insolvency process that may discharge many debts, but can affect assets, credit and some occupations. Rules and terminology differ across the UK.
Key Benefits:
- Write off most debts
- 12-month process
- Many qualifying debts may be discharged
- Formal restrictions apply during the process
How It Works
Our simple 5-step process gets you from debt stress to financial freedom
Use the Free IVA Eligibility Checker
Complete our 3-minute eligibility check. No impact on your credit score, completely confidential.
Complete the Free Debt Assessment
Get a personalised AI-powered debt assessment recommending the most suitable debt solution for your situation, along with access to helpful budgeting tools.
Connect with a Licensed Insolvency Practitioner
We match you with a Licensed Insolvency Practitioner who contacts you free of charge and with no obligation.
Review Your Options
Your Licensed Insolvency Practitioner reviews your situation and explains all available options in detail.
Start Your Journey to Financial Freedom
If a formal solution is right for you, your Licensed Insolvency Practitioner prepares and submits the proposal on your behalf.
Why Choose YourFinances.co.uk?
Professional debt solutions with proven results and expert guidance
Write Off Unaffordable Debt
An Individual Voluntary Arrangement (IVA) can write off 70-80% of unsecured debt, giving you a realistic path to debt freedom.
Stop Interest & Charges
Freeze interest and charges immediately, preventing your debt from growing further.
Protect Your Assets
Keep your home, car, and essential belongings while getting debt relief.
Expert Support
Qualified debt advisors and free debt advice services guide you through every step of your debt solution.
Free AI Legal Document Generator
Generate professional, FCA-compliant legal documents for your debt management needs with cutting-edge AI technology
Vulnerability Protection Letters
Formally notify creditors of vulnerable circumstances and request forbearance under FCA regulations.
Creditor Negotiation Letters
Propose manageable repayment plans to creditors based on your financial situation.
Credit Report Dispute Letters
Dispute inaccurate information on your credit file with credit reference agencies.
Debt Validation Requests
Require creditors to prove you legally owe the debt they are collecting.
Generate professional documents in minutes • Secure & confidential • UK-specific templates
Success Stories
Read more success stories from real people who found financial freedom through our debt solutions
Join Our Thriving Community
Connect with thousands of people who are successfully rebuilding their credit, as shared in our success stories, and achieving financial freedom
Share Your Journey
Connect with others facing similar challenges and celebrate victories together
Expert Guidance
Access exclusive tips and strategies from debt specialists and financial coaches
Track Progress
Monitor your credit rebuilding journey with tools and celebrate milestones
Stay Motivated
Get inspired by real success stories from people who've transformed their finances
100% free • No credit card required • Start connecting today
Frequently Asked Questions
Everything you need to know about YourFinances.co.uk and our debt solutions
What is YourFinances.co.uk?
YourFinances.co.uk is a free information and referral platform providing guidance on Individual Voluntary Arrangements (IVAs), Debt Management Plans (DMPs), Debt Relief Orders (DROs), and bankruptcy. We offer free AI-powered tools and connect consumers with Licensed Insolvency Practitioners who are authorised to provide regulated debt advice. We do not provide regulated financial advice ourselves.
Is YourFinances.co.uk FCA regulated?
YourFinances.co.uk works exclusively with FCA-regulated debt advisors and Insolvency Practitioners. While we are not directly authorised by the Financial Conduct Authority, all debt solutions we recommend are provided through our network of fully FCA-regulated partner firms. This ensures all advice meets strict FCA guidelines and consumer protection standards. You can verify our partners' regulatory status on the FCA Register.
What debt solutions do you offer?
We provide expert guidance on all major UK debt solutions: Individual Voluntary Arrangements (IVAs) - which can write off up to 80% of unsecured debt; Debt Management Plans (DMPs) - flexible informal arrangements to reduce monthly payments; Debt Relief Orders (DROs) - free option for those with under £50,000 debt and minimal assets; and Bankruptcy - a complete fresh start for severe financial difficulties. Our free assessment helps determine which solution is most suitable for your specific circumstances, income, and debt level. You can compare debt solutions on our platform to find what's right for you.
Is the service free?
Yes, our initial debt assessment and eligibility checking services are completely free with no obligation. There is no cost to speak with our advisors or receive personalised debt advice. If you proceed with a debt solution such as an IVA, any fees are built into your monthly payments and never charged upfront. For DMPs through partner charities, there are often no fees at all. We believe everyone deserves access to expert debt advice regardless of their financial situation, which is why we offer free assessments and consultations.
How do I get started?
Getting started is simple and takes just 3 minutes. First, complete our free IVA eligibility checker or comprehensive debt assessment online — this won't affect your credit score. Next, one of our qualified debt advisors will review your situation and contact you within 24 hours to discuss your options. They'll explain which debt solutions you qualify for and help you choose the best path forward. Finally, if you decide to proceed, we'll guide you through every step of the process with ongoing support until you're debt-free.
Will using the debt assessment affect my credit score?
No. Our free debt assessment, IVA eligibility checker, and all 16 AI-powered tools can be used without any impact on your credit score. These tools only require information you provide directly — we do not perform credit checks or access your credit file. If you later choose to proceed with a formal debt solution through one of our regulated partner firms, they will explain any credit implications before you agree to anything.
What AI tools are available on YourFinances.co.uk?
We offer 16 free AI-powered tools designed to help you manage and recover from debt. These include the IVA Eligibility Checker, AI Debt Coach for real-time guidance, Budget Balancer for income and expense management, DMP Calculator to estimate monthly payments, Credit Score Simulator to see how actions affect your rating, a Legal Document Generator for creditor letters, and credit rebuilding resources like our Credit Rebuilding Planner. All tools are available 24/7 at no cost, with no account required for most features.
How is YourFinances.co.uk different from other debt advice websites?
YourFinances.co.uk combines AI-powered tools with access to qualified professionals. Unlike lead generation sites that simply sell your details, we provide genuine educational content, free interactive tools, and connect you directly with Licensed Insolvency Practitioners regulated by the IPA, ICAEW, and ACCA. We cover over 250 regional pages across the UK, publish scenario-specific guides for real debt situations, and our AI Debt Coach provides immediate, personalised guidance 24 hours a day.
Important Information
YourFinances.co.uk is a free information and referral service. We connect you with Licensed Insolvency Practitioners who are authorised to provide regulated debt advice. We do not provide regulated financial advice ourselves. Read our full legal disclaimer.
Debt solutions may affect your credit rating and ability to obtain credit in the future. Consider seeking independent financial advice before proceeding with any debt solution. IVA approval rates vary. An IVA may not be suitable for everyone and alternative solutions may be more appropriate. Your monthly payment amount will depend on your individual financial circumstances.
This content has been prepared in accordance with FCA guidelines and reviewed against guidance published by The Insolvency Service and MoneyHelper, as described in our editorial policy. YourFinances.co.uk connects consumers exclusively with Licensed Insolvency Practitioners regulated by the IPA, ICAEW, and ACCA. Last reviewed Week commencing February 2026.
Last Updated: February 2026