Debt Solutions
Our easy to glance table shows a summary of 3 of the debt solutions options. This table is aimed at those with serious debt problems, hence debt consolidation is not really an option and not shown.
| SOLUTION | |||
|---|---|---|---|
| Question | |||
| How long before I am debt free? | As soon as possible * |
Not more than 12 months |
36-60 months** |
| How much are the fees for professional help? | Depends directly on the amount owed. | Our fee is £249. There may also be court fees to pay. | Usually between £3000 & £5000 |
| Are the fees payable up front? | No | Yes | Yes |
| Are any court fees payable? | No |
Depends on your circumstances |
Depends on your circumstances |
| Are my details published anywhere? | No | Yes, the Insolvency service web site. | Yes, the Insolvency service web site. |
| Is the Court involved? | No | Yes | Yes (usually) |
| What if I can’t make a payment? | Try and catch up | N/A | Arrangement may fail and you could be made bankrupt |
| Can I keep my house? | Yes | Yes | Maybe |
| Can I keep my car? | Yes | Probably | Possibly |
| Can my creditors refuse to accept my decision. | No | No | Yes |
*The length of time depends on the amount of your debt and how much you can afford to pay.
** The amount you pay monthly will be calculated to produce a repayment timetable.
Help with Debt Management
We act on your behalf, negotiate with your creditors and come up with a plan that will see you guaranteed debt free on a fixed date.
• You don't lose your house
• You can keep your car
• Your financial details are not publically published
Help with Bankruptcy
All your debts are cleared in one go. No-one can chase you for payment and you can come out of bankruptcy in as little as 25 weeks.
What is an IVA?
An Individual Voluntary Arrangement. In the vast majority of cases an IVA is NOT the route to go and can end up costing you more.
You might even:
• go bankrupt anyway
• lose your home
• pay back more than you owed in the first place
There rare occassions that an IVA is the best choice
save to del.icio.us
