There are many ways to get out of debt, and each has its own rules, guidelines, eligibility requirements, and also timelines.

Some ways to pay off your debt can take years, some can take much less.

Before we go over the quickest ways out of debt, let’s look at some of the other options to become debt free.

Options to Become Debt Free

Many will say some of these options to becoming debt free or get out of debt are common sense, and they are, other options require the intervention of third parties, or help from those you owe.

So what is the quickest way to be debt free!!!!

Bankruptcy or a Debt Relief Order

There are many options to get out of debt, but the quickest does involves the courts, and depending on the level of your debt, Bankruptcy or a DRO/Debt Relief Order is the quickest.

Barring hitting the Lottery and having the winnings to pay off your accounts, a DRO or Bankruptcy will have you debt free and a fresh start in 12 months…just 1 year.

Debt Relief Orders are for debts of £20,000 or less, and Bankruptcy here in the UK for debts exceeding £20,000.

Yes, there are conditions and much needs to considered prior to making such a decision.



It is a lot to take in and consider when looking at options to get out of debt.

As always, get professional advice, and know where you stand.

However, in looking at getting out of debt, besides hitting the lottery, a huge inheritance, or some other windfall, Bankruptcy and Debt Relief Orders are one of the quickest ways to be debt free.

Keep in mind the restrictions of both, and also the impact on your credit score. But again, as I always say, if you are struggling with debts, your credit should be the last thing you worry about.

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