Are you feeling buried under an avalanche of bills, unable to meet the monthly repayments on your personal loans, credit cards, store cards and everything else? If so, you may be in serious financial difficulty and should seek specialist advice on how to get out of debt, before things get any worse.
There are a number of different solutions available that could solve your problems, allowing you to repay your debts at a more affordable rate and get your life back on track again. If you are having difficulty sleeping at night, and you would like more information on how to get out of debt, then call the number at the top of this page or click on one of the links below.
What are the options?
Debt Management Plans (DMP) - All of your unsecured debts are gathered together, and consolidated into one affordable monthly payment, without having to take out another loan. We will negotiate reduced payments with your creditors and request that interest and charges are frozen. You simply make your monthly payment to us and we will deal with all other matters, with your creditors, including correspondence and phone calls. For more information, click on this debt management link.
Individual Voluntary Arrangement (IVA) - An IVA is a legal arrangement, supervised by a qualified Insolvency Practitioner (IP). It is similar to a DMP, in that all of your unsecured debts will be included in the arrangement. We will analyse your income and expenditure and calculate how much you can afford to pay into your IVA each month. The arrangement will be over a fixed period (usually five years) and once you have completed your IVA, any remaining debt will be written off. For more information, click on this IVA advice link.
Trust Deed - A Trust Deed is only available to residents of Scotland, like an IVA a Trust Deed is a legally binding agreement between you and your creditors. A Trust Deed can only be set up by a licensed Insolvency Practitioner (IP). In most cases your creditors will agree to freeze interest charges and to write off whatever unsecured debts you still owe at the end of the term. Once the Trust Deed is in place you will be legally protected against any action by your creditors and therefore avoid bankruptcy or further legal action as long as you maintain regular payments for a fixed period of time (usually three years). For more information, click on this trust deed link.
If you would like to know more about how to get out of debt, please call the number at the top of this page.
