Debt Options

This part of the debt advice process involves advising the client about their available options, following exploration of their situation and liability for debts. The adviser should advise them about all the options available to them so they can make an informed decision about what to do next.

The advice should include:

  • enforcement action available to the client’s creditors
  • advantages and disadvantages of all options available to the client
  • any eligibility criteria for a particular option (for example, for a debt relief order or administration order)
  • debts covered by the option
  • any costs involved
  • the likelihood of acceptance for a debt option
  • any risks involved (for example, the risk of costs if the client wants to challenge a court claim).

The following good practice tools/resources are available to assist with this part of the debt advice process:

Bankruptcy Prompt List

Admin Order Prompt List

DRO Prompt List