Debt Management is not suitable for everyone. But no matter what your financial circumstances, there are debt management alternatives which can help you.
Always seek expert professional advice, we can offer further information about Debt Management Plans as well as advising you on alternatives such as individual voluntary arrangements. Contact our team today on 0800 048 1766.
Individual Voluntary Arrangement - If you qualify for an IVA, it is invariably the best solution for you, as it is the only solution that can write off debt without declaring bankruptcy. You pay one affordable monthly payment for an average period of 60 months. After which all unsecured debt that you haven’t repaid is written off.
Protected Trust Deed - A Protected Trust Deed is the IVA equivalent for Scottish residents. It works in a similar way to an Individual Voluntary Arrangement but allows you to be debt free in a typical period of 36 months.
Bankruptcy - Bankruptcy should only ever be considered when all other debt solutions have been fully exhausted. Only take professional advice from a Licensed Insolvency Practitioner and ensure that you are aware of the long terms implications of bankruptcy.