Consider Every Debt Management Solution

When you're looking for a debt management solution you want to be sure that your debt advisor has understood your situation and has considered every debt management solution before making their recommendation.

If you've got unsecured debts like credit card debt and loan debt and are struggling with the repayments, you will want to be considering one of a number of debt solutions available like free debt management plans, IVA's and loan consolidation. Assuming it's not too late, bankruptcy would only be considered as a last resort.

What's The 'Right' Debt Management Solution?

When we talk about finding the right debt management solution by ‘right’ we mean the solution that:

  • Is going to pay your debts off the fastest with the least money
  • Protects assets like your home
  • Minimise damage to your credit rating
  • Return you finances back to health in a known period of time

Get An Expert Opinion On The Best Debt Solution For You

Talk About Debt has been set-up to help find you solve debt problems the right way. We have partnered with debt charities and market leading debt help organisations to ensure you get the very best advice and the solution that is right for you. Speak to one of our recommended debt advice charities to find a suitable solution for your situation. >>

Which debt solutions is best for you?

Comparison Table Of Debt Solutions

Solutions
Debts Written Off
Legally Binding
Interests & Charges
Residential Status
Fees
Notes
IVA
Yes - Average 58%
Yes
Stopped
Tenant or Homeowner (Eng/Wales)
Yes on average around 20% of the payments you make to creditors
Typically you must have debts over £15,000 and be able to offer yourcreditors about 20% of the value of the debt back over 5 years.
Debt Management
No
No
Many Freeze
Tenant or Homeowner
Yes
In a Debt Management Plan, you will be required to repay all of your debt in full.
Consolidation
No
Yes
New Rates & Charges
Tenant or Homeowner
Yes
Consolidating your debts generally means you'll pay more back over a longer period of time.
Bankruptcy
Yes
Yes
Stopped
Tenant or Homeowner (Eng/Wales)
Yes - up to £700 depending on your circumstances. You may also be subject to a 3 year Income Payments
You need to think carefully about all the affect bankruptcy will have on your home and your employment.
Debt Relief Order
Yes
Yes
Stopped
Tenant
Yes - £90
You must have debts under £15,000 and have little in the way of assets