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Consolidate all your outstanding debt payments
into one affordable monthly payment.
Find out if Debt Management is the best option for you
We will select the best advisors to help you save money every month See how much you can save - Try our FREE 60 second debt calculator
What is a Debt Management Plan?
IVA - Individual Voluntary Arrangement
An IVA ( Individual Voluntary Arrangement is a formal route to repay your debt using one monthly affordable payment. Once the IVA has been accepted, the creditors will agree to:
Write off up to 75% of the debt
Freeze interest and stop charges
Stop letters and phone calls
Finish the plan in 60 months
Consolidation Loans
Consolidation Loans normally come in the form of Equity Release,
which means if you do not have enough equity or you are not a home owner then a consolidation loan it not an option.
It is possible to have an unsecured consolidation loan but you credit history must
be perfect,so no missed or late payments.
One monthly payment
Improve credit rating
Normally better interest rate
Easy to managePTD – Protected Trust Deeds
A Trust Deed
(Protected Trust Deed)
and the Scottish equivalent of an IVA but there are a few subtle differences:
Write off up to 90% of the debt
Freeze interest and stop charges
Stop letters and phone calls
Finish the plan in 36 months
Bankruptcy
Bankruptcy is and always will be the last resort to solve a debt situation
and you must be fully informed before deciding on this option. Bankruptcy
can last anywhere between 12 to 120 months, but all your debt is written off and the stress of the debts will vanish.
Removes the stress caused by debt
Normall lasts for 12 months
Can lower your monthly payment
When finished you will be debt free
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