Debt Relief 2026: Get the Help You Need

Debt relief is a term for various solutions that help you manage, reduce, or write off unaffordable debt. It includes options like IVAs, Debt Management Plans, Debt Relief Orders, and other formal and informal debt solutions. The right option depends on your circumstances, income, and the amount you owe.

While there is no single government scheme to automatically write off debt, there are government regulated debt solutions like IVAs and Debt Relief Orders (DROs) that can write off remaining debt after completion. These are formal insolvency solutions regulated by the Insolvency Service and must be set up through licensed professionals.

The amount of debt relief depends on your chosen solution. With an IVA, you typically repay what you can afford over 60 months, with remaining debt written off (often 60-80%). A Debt Relief Order can write off up to £30,000 if you meet strict criteria. Debt Management Plans do not write off debt but make payments affordable.

To qualify for debt relief, you typically need 2 or more debts, owe at least £2,500 total, and can afford at least £100 per month. Different solutions have different eligibility criteria. An IVA requires proving you cannot pay debts in full, while a DRO requires very low income and assets. Check if you qualify with our free 2 minute checker.

Yes, most debt relief options will affect your credit score for 6 years. However, if you are already struggling with debt, missed payments, and defaults, your credit is likely already affected. Debt relief gives you a clear path to becoming debt free and rebuilding your credit properly after completion.

No, debt relief and debt consolidation are different. Debt consolidation means taking one loan to pay off multiple debts, so you still owe the full amount. Debt relief solutions like IVAs can write off a portion of your debt, meaning you pay back less than you owe. Debt relief is for people who cannot afford their debts in full.

The duration depends on the solution. An IVA lasts 60 months (5 years). A Debt Management Plan lasts until debts are paid in full, which could be several years. A Debt Relief Order lasts 12 months, after which qualifying debts are written off. Choose the solution that fits your circumstances and timeline.

Yes, free debt advice is available from regulated advisors. We provide free, confidential debt relief advice with no obligation. Charities like StepChange and Citizens Advice also offer free help. Always check that any debt advisor is FCA regulated or authorized to give debt advice before proceeding.

The best debt solution depends on your individual circumstances. If you owe £6,000+ and can afford £100+ monthly, an IVA may be best as it writes off remaining debt after 60 months. For lower income and debts under £30,000, a DRO could be ideal. Debt Management Plans suit those who want flexibility and can repay debts in full over time. Our free eligibility check will recommend the best option for you.

If you have no spare money after essential living costs, a Debt Relief Order (DRO) may be suitable. DROs are designed for people with less than £75 monthly spare income and debts under £30,000. The DRO freezes your debts for 12 months, and if your situation has not improved, the debts are written off completely. You can also seek help from debt charities who may provide emergency support.

When debt is written off through a formal debt relief solution like an IVA or DRO, you are no longer legally required to pay the remaining balance. The debt is marked as satisfied or partially satisfied on your credit file. You will receive a completion certificate confirming your debts are cleared. The debt solution stays on your credit file for 6 years from the start date, after which it is removed and you can rebuild your credit.