Compare UK debt solutions, two at a time
The choice is rarely between all four at once. It is usually between two — and the difference between them comes down to a handful of things: how long, how much it costs, what happens to your home, and whether anything is written off.
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IVA vs DMP
The real difference is legal force.
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IVA vs DRO
If you are eligible for a Debt Relief Order, it is almost always the better deal: twelve months instead of five years, no payments at all, no fees, and the qualifying debt written off at the end.
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IVA vs Bankruptcy
Bankruptcy is faster and usually cheaper.
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DMP vs DRO
A Debt Management Plan means paying your debts off over time.
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DMP vs Bankruptcy
A DMP asks how long repayment would take.
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DRO vs Bankruptcy
They achieve much the same result: qualifying debts written off after twelve months.
Full comparison →
If the real question behind your comparison is which of these writes debt off, start there — half the confusion in this market is solutions that reorganise debt being sold as solutions that erase it.
How to compare debt solutions honestly
Every comparison on this site runs on the same five questions: how long does it last, what does it cost, what does it do to your credit file, what happens to your home, and what legal protection do you get while it runs. Those five separate the solutions far more cleanly than any headline write-off percentage — and which routes genuinely write debt off is worth settling before you compare anything.
The comparison people get wrong
The most common error is comparing a Debt Management Plan against an IVA on monthly payment alone. A DMP repays in full with discretionary interest freezes; an IVA runs a fixed term with a statutory write-off at the end. Similar payments, completely different destinations — the comparison tool and My Debt Map both exist to keep those differences visible while you think.
Or see all four together
| IVA | DMP | DRO | Bankruptcy | |
|---|---|---|---|---|
| Formal insolvency | Yes | No | Yes | Yes |
| Where it applies | England, Wales and Northern Ireland | The whole of the UK | England and Wales (Northern Ireland has its own version with different thresholds) | England, Wales and Northern Ireland (Scotland calls it sequestration) |
| Typical duration | 60 months, or 72 with home equity | Until the debt is repaid — no fixed end | 12 months | Discharged in 12 months; payments up to 3 years |
| Monthly payments | Monthly, affordability-based | Monthly, flexible, changeable | No payments at all | Only if you have surplus income |
| Your home | Excluded; equity sets the term | Not affected | Not available to homeowners | May be sold |
| Credit file impact | 6 years from the start date | Defaults recorded, 6 years each | 6 years from the order date | 6 years from the order |
| Public register | Listed on the public Individual Insolvency Register, which anyone can search. Your address can be withheld only on evidenced safety grounds. | Nothing public. A DMP is a private arrangement. | Listed on the public Individual Insolvency Register. | Listed on the public Individual Insolvency Register, and in some cases advertised more widely. |
| Fees | Paid from your monthly payments | Free providers available | Free — no application fee | £680 application fee |
| Creditor protection | Legally binding on included creditors | None — entirely voluntary | Full protection, then write-off | Full protection, then discharge |
Which two should you be comparing?
Eight questions about your circumstances, and we will narrow it down.