As you can see we have a variety of debt solutions to help you get out of debt. Which debt solution may prove eventually to be right for you will depend on a lot of factors which will vary with individual needs and circumstances. To help summarise some of the options and simplify their relevance to you, look at the following table, but remember our job is to help advise you on debt solutions and help clear your debts, so if you have any queries or would like some debt counselling, please contact us free of charge on 0800 970 4882 or complete our online enquiry form to the right on this page.
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Debt Consolidation |
Re-mortgage |
Equity Release |
Debt Management Plans |
IVA’s |
Bankruptcy |
Does not affect your credit status (assuming it is not already impaired) |
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Protects your assets |
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But if you make no monthly repayments over time the equity in your home could be consumed |
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Ongoing Interest frozen |
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poss |
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Stops existing creditors chasing you. |
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Debts written off without paying all of them |
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Not based on income |
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Arrangement runs only for a fixed period of time |
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Avoids the stigma of bankruptcy |
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Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.
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