These are (1) debt consolidation, (2) debt management, (3) Individual Voluntary Arrangement (IVA), (4) bankruptcy and (5) Debt Relief Order (DRO) which is a special kind of bankruptcy for people with under £15000 of debt and assets of …

Source: Debt Management: The Objectives

Citizens Advice estimates that nearly a third of its debt clients could be eligible for a debt relief order – a new low-cost alternative to bankruptcy for people who owe less than £15000 and have assets worth less than £300 – when it …

Source: Citizens Advice sounds warning over spiralling household debt « In …

In 2007 Debt Relief Orders were introduced by parliament as a new form of bankruptcy to the UK. They were designed as simpler forms of bankruptcy for those with little or no assets.

Source: What is a Debt Relief Order? | Debt Advice Online