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

Use our Debt Smart Calculator to help identify which debt advice organisation is suited to your type of debt and which advisor will guide you safely to the best solution and help you get it in place when the time is right for you. Try it now >>

Which debt solutions is best for you?

Comparison Table Of Debt Solutions

  Solutions Debts Written Off Legally Binding Interests & Charges Residential Status  
 
Average 58%*
Yes
Stopped
Tenant or Homeowner (Eng/Wales)
 
 
Not Normally
No
Many Freeze
Tenant or Homeowner
 
 
Consolidated
Yes
New Rates & Charges
Tenant or Homeowner
 
 
Bankruptcy is a severe last resort if you are in serious debt and no other debt solution can save you from going bankrupt. Bankruptcy may protect you from your creditors and allows you to start fresh, but you need to think carefully about all the implications involved.
 
 
*58% was the average debt write off with an IVA, April - June 2008, CCCS
 
     

 

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