Debt Solutions
We know debt can be an overpowering factor, especially in today's financial climate and that everyone needs a tailored approach to managing their debt. Whatever the change in circumstances may be, we help you become informed of the best course of action to get your debt under control.
Get someone to advise you…
Need help right now? Don't get bogged down in your search for the right debt solution - get free debt advice and expert help:
IVA
If you find yourself struggling to repay debts that you simply cannot afford, then an Individual Voluntary Agreement (IVA) may offer a solution.
An IVA uses government legislation to come up with a repayment plan that you can afford and in some cases, can write of much of your debt.
Read on to find out more about IVAs:
- Benefits of an IVA
- Disadvantages of an IVA
- Is an IVA right for me?
Loans
A loan could be a viable option when looking to control your debts, allowing you to use the cash from a loan to pay-off various unsecured debts that you may currently have consolidate them into one monthly payment on terms that they are comfortable with.
It is worth noting though that loans are still another form of debt and, like taking on any other form of debt, it is important to assess your circumstances beforehand.
- Why are loans useful?
- There seems to be a number of loans available, what is the difference between them?
- Why can loans become a debt solution?
Debt Consolidation
Trying to pay back various loans, credit cards, store cards and other debts can become a stressful and confusing process.
With different companies demanding various amounts at different times of the month. With debt consolidation, you can combine these debts into one, single monthly repayment - one that is often lower than the combined total that you may currently be paying.
Read on to find out more about debt consolidation:
- Advantages of debt consolidation
- Is debt consolidation right for you?
Debt Management
If you find yourself regularly going overdrawn or incurring bank charges for late payments or unauthorised overdrafts, then debt management could help.
Debt management is a plan that ensures that your essential monthly commitments such as rent / mortgage payments and utility bills are budgeted for, allowing you to keep track of your regular outgoings.
Read more about debt management:
- How does debt management work?
- What are the advantages of debt management?
- Is debt management right for me?
Trust Deeds
If you are a Scottish resident and struggling to cope with your current debts, then legislation in Scotland could help.
A trust deed is an agreement between you and your creditors which determines how much of your debts you can afford to repay and ends any further threats or demands from your creditors.
Read on to find out more about Scottish trust deeds:
- How does a Trust Deed work?
- What are the advantages of a Trust Deed?
- Will I have to give up some of the equity in my home?
- How do I know if a Trust Deed is right for me?
Managed Bank Accounts
A managed bank account is form of banking that is designed to make managing your finances simpler.
Managed bank accounts allow a personal account manager to oversee your account and your monthly spending to ensure that you are able to meet all of your essential financial commitments.
- How does a managed bank account work?
- What are the benefits of a managed bank account?
- Who can get a managed bank account?