| Debt Management Plan | Debt Arrangement Scheme (DAS) | Trust Deed | Bankruptcy | |
| Cost | Usually no cost | Usually no cost, all debts must be included. | Fees apply, sometimes paid up-front. | £200 application fee or £90 for Minimal Asset Process, other fees may apply. |
| What happens to the interest on my debts? | Usually still accrues | Frozen as long as you complete your DAS Payment Programme | Interest still accrues is included as a debt in the trust deed. | Interest still accrues but is included as a debt in the bankruptcy. |
| What happens to my home if I own it? | Nothing, as long as you keep up your payments. However, creditors may still place an inhibition on your property, meaning you cannot sell or re-mortgage without their consent. | Nothing as long as you keep up your mortgage payments. | Your trustee may sell it. However, a formal agreement to exclude your property from the trust deed may be arranged. | Your trustee may sell it or request you or an interested person buy out the trustees interest in any equity. |
| What is the effect on my debts? | Your debts are not written off, they are usually paid in full. | Your debts are not written off, they are usually paid in full. | Most debts will be written off at the end of the trust deed. | Most debts will be written off at the end of the bankruptcy. |
| Can my creditor take action? | Yes. Debt Management Plans are not formal arrangements. Therefore, creditors do not have to agree to them. | Not if you complete your programme. However, if your programme is revoked (you have not stuck to the conditions of the programme) - all interest, fees, charges will be added back on. | Not if your trust deed is protected as long as you stick to the terms of your trust deed. | No. |
| Will my employment be affected? | No. | No. | Certain professions may be affected, a trustee will be able to advise if your job could be affected. |
Certain professions may be affected, for example, Solicitors, Accountants, and Government Officials. This is not a full list. |
