Published in Debt Advice Features on Friday, November 19 2004 0 Comments

It’s easy to let your debt problem cause you emotional and physical stress, but if you follow our short guide to keeping your debt problem in perspective, this needn’t be the case.

Published in Debt Advice Features on Friday, November 19 2004 0 Comments

A quick summary of the available debt options.  More in-depth information is available within our ‘Debt Solutions Guide’ section on all the individual options.

Published in Debt Solutions Guide on Friday, November 19 2004 0 Comments

The Protected Trust Deed is offered only in Scotland as is similar to the IVA (Individual Voluntary Arrangement). It is a legally governed procedure by which you can repay your debt over a specified period of time, usually 3 years. Monthly payments are based on what you can realistically afford and after the period of your Protected Trust Deed, any remaining debt is written off.

Published in Debt Solutions Guide on Friday, November 19 2004 0 Comments

The Trust Deed is offered only in Scotland as is similar to the IVA (Individual Voluntary Arrangement). It is a legally governed procedure by which you can repay your debt over a specified period of time.

Published in Debt Solutions Guide on Friday, November 19 2004 0 Comments

Debt management is an informal process of negotiating with your creditors for the freezing or reduction of interest, or the writing off of part of your debt. A debt management company can provide debt management services, or debt management can be self managed.

Published in Debt Solutions Guide on Friday, November 19 2004 0 Comments

A remortgage involves taking out a new mortgage and repaying your existing one in order to realise equity and sometimes to reduce monthly debt repayments.

Published in Debt Solutions Guide on Friday, November 19 2004 0 Comments

Generally, a consolidation loan is usually recommended in cases of moderate debt problem where there is equity in your home, or where you can afford to make equal or higher monthly debt payments than you are currently making and your aim is to pay your debt off quicker.

Published in Debt Solutions Guide on Friday, November 19 2004 0 Comments

Bankruptcy is a ‘last resort’ solution in cases of a very serious debt problem, and can be brought on by a creditor or can be entered into by making a bankruptcy order yourself. If you enter into bankruptcy your assets will be sold and the proceeds used to cover your debt.

Published in Debt Solutions Guide, IVA Focus Features on Friday, November 19 2004 0 Comments

An Individual Voluntary Arrangement (or IVA) is an official debt repayment plan that in most cases includes the freezing of interest, reduction in the total amount of debt owing, and legal protection from lenders as long as the terms of the IVA are adhered to.