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Information for Individuals

Here at Carter Halliwell, we understand how stressful unmanageable debt can be. 

That’s why when you consult with us, we take into account your personal financial situation to find a solution that best suits your individual circumstances. Our advice is always clear, unbiased and focuses on helping you get back in control your finances - we want you to choose the debt solution that will work best for you. 

How we can help

Individual Voluntary Arrangement (IVA)

An IVA is a legally binding agreement between you and your creditors. When setting up an IVA, a single affordable monthly repayment amount will be decided upon based on your income and expenditure; you’ll pay this each month for the length of your IVA and your creditors will be unable to take any further action against you.  

At the end of your IVA, any remaining debt that you haven’t repaid will be written off. 


Bankruptcy is a form of insolvency that writes off the entirety of a person’s debts with a one-time government fee of £680. Bankruptcy is usually a last resort as you’ll likely lose control of any assets you may have such as a house or car and your credit score will be affected. Once your bankruptcy is agreed, creditors will be unable to contact you and your debts will be written off after 12 months.

If you have debts of over £5,000 that you are unable to pay, your creditors can issue a petition to apply for your bankruptcy on your behalf.

Bankruptcy Annulment

Carter Halliwell can help you to apply to cancel (‘annul’) your bankruptcy at any time if you have either paid your debts in full or you have entered into an IVA. You will still need to attend your interview with the official receiver if you have been asked to. 

If successful, the annulment will remove the bankruptcy order from your records as if it had never been made. 

Debt Relief Order (DRO)

A DRO is a legally binding debt solution that will clear your debts if you meet certain criteria. In order to be eligible for a DRO you must have a relatively low level of debt, minimal assets and little to no disposable income each month. Once your DRO is agreed, creditors will be unable to chase you for payment without the court’s permission. 

12 months after setting up your DRO you will be ‘discharged’ from your DRO restrictions and your debt will be cleared. 

Administration Order

An administration order is a legally binding debt solution that could be suitable for you if you have a small amount of debt owed to 2 or more creditors and at least one county court judgement (CCJ) or high court judgement (HCJ) that you’re unable to repay. Once the order is made, the creditors listed in the order shouldn’t contact you about your debt. 

You’ll make one affordable payment to the local court each month, which the court will then divide between your creditors. The court will decide on the repayment amount, how long the arrangement will last and if any of your debt will be written off.

Debt Management Plan (DMP)

A DMP is an informal agreement between you and your creditors to repay your unsecured debts. 

A DMP will reduce your monthly payments to an affordable amount, allowing you to pay back your debts in full over time. Your financial situation will be assessed to establish what your single monthly payment will be.

You will continue to make monthly payments until your debts are paid in full. 

Get in Touch

It’s never too late to find out what solutions are available for you but sometimes taking advice early on can mean that there are more options to choose from. Please get in touch today either by phone or using the link below. 

Call us on: 01942 929376

Address: Westwood Park, Wigan, WN3 4HE

Our Recent Partnership With Freeze Debt

We’ve recently teamed up with Freeze Debt, the one stop debt solution app for individuals with unmanageable debt.


The app allows users to find out what debt solutions they’re eligible for at a time and pace at suits them, through the convenience of a mobile application. The live-chat function means that users can communicate with an expert debt advisor throughout their application, to get answers to any questions they may have.


Carter Halliwell is happy to act as Freeze’s in-house insolvency practitioner, to help make the client journey as smooth as possible.