Some of the Options available to you
There are several different options available to you when dealing with your debts. Before deciding what option to take, it is important that you fully research the different options available. We can offer advice on what the best option for you is.
Complete the enquiry form, an advisor will call you back and will give you help and advice, their main aim is to find the best solutions for your own personal debt problems.
- Informal repayment plan
An agreed debt repayment deal between you and your creditor. An Informal Repayment Plan can be arranged by yourself or by a Debt Management Company. - Independent voluntary agreement
An IVA is a negotiated deal with your creditors that allows you to repay your debt in an agreed number of monthly installments over a fixed period of time. - Debt management
Debt management involves actively taking control of your finances and working out the best solution to your debt problem. Work out how much much you need to live on, how much income you have, how much you owe then search for the best option for you. - Debt Consolidation
An alternative way to pay off existing debts is to take out a debt consolidation loan, paying off all your existing debts and repaying one loan. However, it is important to think carefully before taking out this type of loan. - Bankruptcy
A final resort for most people, Bankruptcy allows unpayable debts to be written off but with many drawbacks. A formal insolvency procedure available to individuals, sole traders and partnership members. - If you live in Scotland
Scottish Law allows Scottish residents to take out a Protected Trust Deed, which is a 3 year arrangement between you and your creditors.
