An informal arrangement is a negotiation between your creditors (the people you owe money to) in an attempt to put you in a better financial position.

A debt consolidation loan is when you replace a number of unsecured loans and debts with one single personal loan.

If you currently own a home and you are in debt there are ways to structure your finances to repay your debt and keep your home.

A debt agreement is an affordable, legally binding arrangement with your unsecured creditors (the people you owe money to).

Similar to a debt agreement, a Part X personal insolvency agreement is a way of organising an affordable, legally binding agreement with your creditors (people you owe money to) through a formal proposal.

Bankruptcy is considered by many as a “last resort”.