Debt Solutions with X-debt

X-debt deal primarily in IVA's and you can see if an IVA is suitable here with our debt calculator.

However, there are a number of debt solutions that may be suitable to your circumstances and we will always signpost you to the solution that best suits your needs.

It is important that, whichever debt solution you choose, you should always feel comfortable with the decision you make and never feel pressured or coerced in to agreeing to an arrangement.

At X-debt we will discuss your situation in a calm and friendly manner to best understand your needs and circumstances.

So what options are there to help alleviate debt worries?

Which Debt Solution?

Firstly, you can try our debt calculator which, although only basic, can give an initial indication of which debt solution maybe the most appropriate. Please give it a go, there is no obligation to continue.

Individual Voluntary Arrangement (IVA)

An individual with unsecured debts in excess of £12,000 and a disposable monthly income in excess of £200 is often suited to an IVA.

An IVA is generally for individuals who owe in excess of £12,000 of unsecured debt and earn a salary and / or have surplus monthly household income to make contributions towards your IVA. However, depending on your individual circumstances, in some cases an IVA may be recommended with unsecured debt levels as low as £7,000. Please find more details on IVAs and how they work on our Indivdual Voluntary Arrangement page.

Debt Management

A Debt Management Plan or DMP is an informal agreement made by your debt management company with your creditors to repay unsecured debts. The company can arrange for you to make a single monthly repayment which will be distributed to your creditors under the terms of the agreement with them. You can find more information about debt management on our debt management page.

Debt Relief Orders

A debt relief order (DRO) is an order granted by the Insolvency Service in cases where you can’t afford to pay off debts. A Debt Relief Order usually lasts about 1 year and during this time your creditors cannot take action against you to get their money back. Please read more on our DRO page.


Bankruptcy should generally be a last resort in cases of serious debt, and can be instigated by any creditor owed more than £750, or you can petition for your own bankruptcy. Except for certain exemptions, bankruptcy involves your assets, including your home being sold and the proceeds used to cover all or part of your debt. The aim of bankruptcy is to completely wind up your financial affairs in order to realise the value in your assets, pay off as much of your debt as possible, and essentially ‘start again’. Read more on our Bankruptcy page.

Consolidation Loans

One route out of debt involves releasing equity in the home or consolidating all debts in to one loan to reduce the monthly burden.

Refinancing refers to consolidating debts by taking out a larger loan (usually over a longer repayment term and at a lower interest rate) to pay off smaller unsecured debts, such as credit cards, HP, loans etc. Usually, a secured loan or remortgage is recommended where debt is relatively small and you have sufficient equity in your home. This equity can then be used to pay off all or part of your debt. If you remortgage and this leads to a lower monthly payment, you may also find the remaining debt is easier to budget for. Always seek independent financial advice before taking extra credit to service existing debt, particularly when securing against your home. Also remember that, although monthly payments may be cheaper and therefore more affordable, the loan can be over a longer period so cost more in the long run. An IVA may be the best choice in these cases so please feel free to discuss your situation with us.


A CVA is similar to an IVA but for business debts and is a legally binding with your company's creditors. It allows a company to reduce monthly commitments and improve cash flow so long as there is a clear defined goal and amended business plan which is viable. Please read more on our CVA page.

Please contact us for free debt advice or try our IVA calculator to see which debt solution may be most appropriate

Please Get in Touch to discuss your debt problems in the strictest confidence.

0800 043 2424

0161 787 3400

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