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Debt Free Wannabe

London
Posted
75 days ago

Description

Are you finding it difficult to meet your Debt monthly repayments, if you owe £4,000+ you could be eligible to lower your monthly payments and write off a percentage of your Debt.

More information on possible solution's below.

IVA.
This is a legally binding agreement between you and your creditors to lower monthly payments and write off a high percentage of your Debt. The average write off is 45% but in some cases can be upto 85%. You will need to have at least £6,000 worth of Debt for it to be looked into.

The life of a IVA is 5 years, and can be upto 6 years if you are a homeowner and have equity in your property. You could be asked to remortgage within this period, but with the way the market is at the moment it is very unlikely any lenders will accept any applications. when you get accepted for the IVA, creditors are not legally allowed to call or send letters to you and can not take any further action.

An IVA can only be set up by a Qualified Insolvency Practitioner but we can take you through the the free set up process, our IVA Knowledge is second to none and we do successfully get clients who have failed with other companies & eventually get them accepted with one our large panel of Insolvency Practitioner's.

Types of Debts Accepted
Unsecured Bank Loans.
Credit cards
Payday lenders.
Catalogues and store cards.
Utility arrears.
Overpayment of benefits.
Council tax arrears
Rent arrears.
HMRC Tax Debt.
County court judgements.


Not accepted.
Mortgages.
Secured loans.
Magistrates court penalty fines.
CSA arrears.


DMP

This is an informal Agreement between you are your creditors to lower monthly payments & freeze interest And charges on non priority Debts such as unsecured bank loans, credit cards, payday lenders, catalogues and store cards, utility arrears. To start a Dmp you need to have a minimum of £3,000 and more than 1 creditor. DMP has a very high acceptance rating and very flexible and through a third party takes away the stress of dealing with creditors letters & calls.

We can help you set this up today for free.

Trust Deed

This is for residents of Scotland only, this is a legally binding agreement between you and your creditors to lower monthly payments and write off a high percentage of your Debts. Your assets and property will be passed to a trustee who will manage your financial affairs with the aim of paying your creditor's as much as possible of the Debts that are owed. If your Trust Deed becomes protected your creditors can't take further action against you or make you Bankrupt. To set up a trust Deed you need to have at least £5,000 worth of Debt and make regular lower payments over 4-5 years, but we can help you through this process for free

Bankruptcy.

This is the last resort if the other options fail, the life of Bankruptcy is normally 1 year and then you are discharged. If you have a high income and assets an official reciever will come out to visit you and go through all of this with you, you could be asked to make payments over 3 years and your assets sold to pay towards the Debts.you have to take into account that bankruptcy can be on your credit file for upto 15 years so you could struggle to get credit again.

Normally you need at least £20,000 for bankruptcy anything less an option could be a Debt Relief Order for more information please apply

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