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Debt Solutions

Welcome to Dissolve Debt! We offer a wide range of products and services to assist you with your financial needs. If you are unsure which option is best for you, please feel free to use our friendly Debt Solution Finder or give us a call on 0161 926 7670 to speak with one of our knowledgeable advisors. We understand that everyone’s situation is different, which is why we recommend contacting us to discuss your options. We are always here to help!

Our services and solutions

A Debt Management Plan is a highly beneficial and effective solution to managing your debts.

This informal arrangement allows you to pay back your debts based on a rate that is tailored to you and your financial circumstances.

A Debt Management Plan is determined by taking into account all of your income and outgoings. Debt management is particularly useful for non-priority debts, such as credit cards, loans, store cards, overdrafts and more. However, it’s important to note that priority bills such as current council tax, court fines and mortgage arrears are not eligible for this service.

If you’re currently struggling with debt over £6000 and wondering what your options are, an Individual Voluntary Arrangement (IVA) may be worth exploring.

Essentially, an IVA is a legally binding payment plan designed to provide relief to those struggling to keep up with debt repayments.

With the guidance of a qualified Insolvency Practitioner, you’ll work out an affordable payment plan that will allow you to make a single monthly payment to cover multiple debts. This payment plan typically lasts for around five years (60 months), although homeowners may be able to extend it for up to 12 additional months. Keep in mind, however, that an IVA will need to be approved by at least 75% of your creditors in order to move forward.

While Dissolve Debt isn’t directly involved in administering IVA’s, we can connect you with one of our trusted partners who will work with you every step of the way. As a provider of FCA regulated debt advice, we’re committed to helping you find the right solution for your unique financial situation.

A debt relief order can cancel all your debts if your finances don’t improve in a year. You won’t have to pay back what you owe and interest and fees will stop. Just pay a one-time application fee and an approved organisation will guide you through the process. Unfortunately, if you live in Scotland, you can’t apply for a debt relief order, but a similar option is available called the Minimal Assets Process (MAP) bankruptcy.

How it works

You should first seek debt advice, and if a DRO is considered suitable, you will be referred to an approved intermediary*. They will check that your situation fulfils the criteria and will help you complete the online form, and submit it for you to a government official called the official receiver. The official receiver then makes the order, if appropriate.

*An approved intermediary is someone who has been approved by a competent authority chosen by the government.

To get a DRO:

  • you owe £30,000 or less;
  • you have less than £75 to spend each month, after paying tax, national insurance and normal household expenses;
  • you’ve lived or worked in England or Wales in the last 3 years;
  • your assets aren’t worth more than £2,000 in total; and
  • you’ve not had a DRO in the last 6 years

A DRO will last for 1 year, and once your DRO has ended you are released from your debts (with certain exceptions).


  • Your debts will be written off at the end of the DRO. There are a few exceptions, as explained opposite.
  • None of the creditors listed in the DRO application can take further action against you without the court’s permission.
  • It allows you to make a fresh start after 1 year.
  • The fee (£90) is affordable and can be paid in instalments, but the fee must be paid before the application can be made.
  • You will keep your assets and a vehicle as detailed above.
  • The approved intermediary ensures that you are given appropriate advice and that you fit the criteria for a DRO.


    • Your DRO is entered on a public register.
    • You can’t have a DRO if you have an existing bankruptcy order, an IVA, are subject to bankruptcy restrictions, or you have had a DRO in the last 6 years.
    • You won’t be able to have a DRO if you own a house, even if it has no equity (value).
    • You will remain liable to pay certain debts – in particular student loans, fines and some debts arising from family proceedings.
    • Your employment may be affected.
    • Your DRO could be revoked (withdrawn) if you don’t co-operate with the official receiver during the year your DRO is in force.
    • You can’t act as a director of a company or be involved in its management unless the court agrees.
    • You will be committing an offence if you get credit of £500 or more without disclosing that you are subject to a DRO.
    • You may have a debt relief restrictions order* made against you for 2 to 15 years if you acted irresponsibly, recklessly or dishonestly.

* An order that will place restrictions similar to those in force while subject to a DRO, which the official receiver may apply for.

Source: In Debt? Dealing with your creditors – The Insolvency Service

Bankruptcy is a legal procedure in which the inability of a client to pay her/his debts is acknowledged and the majority of unsecured creditors can no longer pursue the money owed, which is eventually written off.

Debt solutions in Scotland

Under the Debt Arrangement Scheme (DAS) you can set up a debt payment programme (DPP) which helps you to repay your debts at a rate that’s affordable to you. We can help get a DPP up and running for you completely free of charge. DAS and DPP are only available in Scotland.

A Trust Deed is a formal, legally binding arrangement between an individual and their Creditors which lasts for a period of 4 years. It is a legal agreement which can only be carried out through a licensed Insolvency Practitioner. A Trust Deed is entered into when the value of debt is significant and the individual is finding it increasingly difficult to pay their Creditors. Any debts remaining at the end of the normal three-year Trust Deed period, subject to exception, are effectively written off by Creditors.

The minimal asset process (MAP) is a way of applying for bankruptcy which is aimed at people on a low income with very few or no assets. It’s a means of writing off debt that you’d struggle to repay within a reasonable time.

Bankruptcy, sometimes called ‘sequestration’, is a form of insolvency allowing you to write off debt that would otherwise take many years to clear. It may be recommended for you if you’re unable to repay your debts in a reasonable time.

The rules for bankruptcy in Scotland are different from other UK countries. Bankruptcy in England, Wales or Northern Ireland has different benefits, risks and fees associated with it.

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