The three solutions Debt Management Debt Management is a potential financial solution that could allow you to reduce your current monthly payments to your unsecured creditors to a more affordable amount without having to borrow more money. IVA If you have 3 or more creditors and owe more than £15,000 in unsecured debt, it is likely that this solution could be the most suitable for your circumstances. In addition, you must be employed and have surplus income of £275 per month. An IVA is a legally binding agreement and normally runs up to 60 months. Trust Deed (Scotland) If you have 3 or more credit agreements and owe more than £10,000 in unsecured debt, it is likely that this solution could be the most suitable for your circumstances. In addition, you must have surplus income of £150 per month. A trust deed is a legally binding agreement and normally runs up to 36 months. Further Information The Insolvency Service's Guide: In Debt? Dealing with your Creditors www.insolvency.gov.uk www.direct.gov.uk/en/MoneyTaxandBenefits/ManagingDebt www.financial-ombudsman.org.uk