Insolvency Options Explained
Insolvency Advice
Understand your insolvency options.
If your debts are unmanageable, a formal insolvency solution may provide the fresh start you need. Our advisers will explain every option clearly so you can make an informed decision.
- IVA, DRO, and Bankruptcy all explained
- Qualified advisers, FCA regulated
- Legally binding protection options available
- Individual assessment before any recommendation
ClearPath Debt Solutions Ltd is authorised and regulated by the Financial Conduct Authority. Registered in England & Wales.
Get free advice
Takes less than 60 seconds
Debt solutions explained
Individual Voluntary Arrangement (IVA)
- Legally binding protection from creditors
- Fixed affordable monthly payment
- Remaining debt written off on completion
- No upfront fees
- Affects credit rating for 6 years
- Must pass income & expenditure assessment
- Insolvency registered on public record
- Homeowners may need to release equity
Debt Relief Order (DRO)
- Debts written off after 12 months
- Low cost (£90 fee)
- Protection from creditor action
- Suitable for low income and few assets
- Affects credit rating for 6 years
- Maximum £30,000 total debt
- Cannot own assets over £2,000
- Restrictions apply during DRO period
Bankruptcy
- Debts written off — usually within 12 months
- Immediate protection from creditors
- Fresh financial start
- No minimum debt level
- Affects credit rating for 6 years
- Assets may be sold to pay creditors
- Public record — Insolvency Register
- May affect employment or tenancy
How it works
Free Initial Call
Speak to a qualified adviser in confidence about your circumstances.
Debt Assessment
We review your income, outgoings, and debts in full.
Options Explained
All suitable solutions are explained clearly with no pressure.
Your Choice
You decide what’s right for you, with full support from our team.