Debt Solution

Many people in debt feel that there is no way out.

There are debt solutions though, from an IVA to bankruptcy to a personally devised debt management plan, we can offer the suitable debt solution for you.

An Individual Voluntary Arrangement (IVA) is available to those who have combined unsecured debts normally around £13,000 or more, owed to two different creditors or more.

Bankruptcy is a legal process which becomes an option when your debts are greater than your assets, and involves writing off all of your debts so you can no longer be chased for them. An Official Receiver will be put in charge of your estate and may sell your assets for the benefit of your creditors. The official receiver will also decide whether or not you can afford to make payments to your creditors for up to three years. Declaring yourself bankrupt can write off all debts, usually in 12 months, but you may struggle to get credit in the future.

A Debt Management Plan allows you to make a single, affordable, monthly payment to help you regain control of your finances. We deal with your creditors on your behalf, often freezing or reducing interest and charges and negotiating a simple and predictable monthly payment.

Debt Release Direct will handle the letters and phone calls, arranging an affordable and timely payment plan for your unsecured debts which will save you time and pressure.

For more advice on debt solutions contact Debt Release Direct on 0800 019 7465.