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Credit card debt is a type of unsecured debt. Unsecured debts can be solved using readily available debt solutions like debt management and IVA's.
What you need to do is find out which solution is best for you and then find an organisation that can start talking to your creditors for you to solve your debt problem before it becomes more serious.
When we talk about finding the right debt solution to credit card debt, by ‘right’ we mean the solution that:
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. To find out who we think you should talk to based on your type of debt try the debt smart calculator. Try it now >>
| Solutions | Debts Written Off | Legally Binding | Interests & Charges | Residential Status | ||
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Average 58%*
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Yes
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Stopped
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Tenant or Homeowner (Eng/Wales)
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Not Normally
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No
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Many Freeze
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Tenant or Homeowner
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Consolidated
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Yes
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New Rates & Charges
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Tenant or Homeowner
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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.
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*58% was the average debt write off with an IVA, April - June 2008, CCCS
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