Financial ProblemsFinancial Problems Solutions
At Financial Problems.org.uk, we know everyone’s financial situation is different. So, we tailor our debt advice to suit you. Our dedicated team of specialist financial advisors are on hand to offer confidential debt help and assistance in determining the best debt solution to suit your circumstances.
If you are seeking help with financial problems you may want to consider the following procedures:-
Individual Voluntary Arrangements (IVA)
An IVA is a legally binding agreement that will consolidate your debts into one single monthly payment. To qualify you must usually owe greater than £15000 and have at least three different creditors. The IVA will generally last for around five years at the end of which all the remaining debt will by written off by your creditors, leaving you free of debt. Under the terms of the IVA up to two thirds of your debts may be written off. For many people with significant debt problems an Individual Voluntary Arrangement is the most attractive solution.
Debt Management Plans
A Debt Management Plan is an informal arrangement made between yourself and your creditors to reduce the amount of your debt repayments. Your debts are consolidated and repayments arranged at an affordable level. Debt Management Plans will help you to get your finances back under control without bankruptcy or resorting to taking out another loan.
Bankruptcy
Bankruptcy is a method of dealing with debts that you are unable to pay. Becoming bankrupt is a way of freeing yourself from serious debt problems while at the same time ensuring that your assets are shared out fairly between your creditors. Bankruptcy is available to anyone subject to some restrictions. The bankruptcy will last for one year at the end of which you are able to start afresh with most if not all of your debts cleared.
To find out more about the solutions to financial problems that are available to you simple complete the enquiry form below or call us direct on 0800 043 50 43.
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