Finances

Managing your finances can seem daunting, but there’s plenty of advice and guidance out there if you need it.

We can help you make informed decisions in regards to your personal finances – just read the information below to find out more.

What is debt?

Debt is money owed by one party to another. If you are in debt, there’s plenty you can do to pay your debt off.

Can I get a Debt Relief Order?

A Debt Relief Order, also known as a DRO, is a simpler, quicker and cheaper alternative to bankruptcy for people who do not own their own home and have very little disposable income.

How do I make a Debt Management Plan?

Debt Management Plans are agreements between you and your creditors that enable you to pay all of your debts.

What is an Administration Order?

An Administration Order is a way of managing your debt if you have a county court or High Court judgement against you and you can’t pay in full.

Can I get an Individual Voluntary Arrangement (IVA)?

An Individual Voluntary Arrangement is an agreement with your creditors to pay all or part of your debts to an insolvency practitioner who will divide the money between your creditors.

What is the FAIR project?

FAIR (Financial Advice, Information & Resilience) is a new project that aims to make financial information services more accessible for people over 50.

Who can I talk to in Torbay about my finances?

Find out more about the local organisations that can advise you and help you manage your money.