Compare Debt Solutions
We are aware that choosing the right debt solution can be a daunting task. We have put together a chart below which outlines some of the differences between the various debt solutions available to you.
Each solution whether it be an IVA, debt management, consolidation loan or bankruptcy all depend on your individual circumstances and may not apply to your situation.
|Protection from all unsecured creditors||yes||no||no||yes|
|Long term, likely to save money||yes||no||no||yes|
|Avoids selling house to release equity||yes||yes||yes||no|
|Unsecured creditors legally obliged to write off the debt.||yes||no||no||yes|
|Creditors stop chasing for payment||yes||no||no||yes|
|Creditors who don’t want to help legally obliged to do so.||yes||no||yes||yes|
|Arrangement runs for a fixed period.||yes||yes||no||yes|
|Avoids the stigma of bankruptcy.||yes||yes||yes||no|
|Stops affairs being made public in my local newspaper.||yes||yes||yes||no|
|Stops interest building up.||yes||no||no||yes|
If you are unsure about the comparison chart above please don’t hesitate to contact us or by telephoning 0800 0122 111.