I have a serious debt problem, over £15,000, and I don't know what to do. The following table gives a comparison of the solutions available to you ...
Question
IVA
Debt Management
Debt Consolidation
Bankruptcy
Will my debts be cleared within an agreed period?
Yes
No
Will interest be frozen?
Will charges be frozen?
Will part of my debt be written off?
Am I protected from my unsecured creditors?
Will I be able to avoid selling my home?
Are all my creditors legally bound to write off the debt I cannot afford to repay?
Are the creditors that don't want to help me forced to write off debt?
Will I be seen as doing the right thing by my creditors?
Will my creditors stop chasing me for payment?
Do I retain control of the situation?
Is it a confidential procedure?
Will I avoid the stigma of bankruptcy?
Is the service provider a specialist in consumer debt, professionally qualified and licensed?
Total unsecured credit £0 - £3k £3k - £12k £12k - £17k £17k - £25k £25k - £50k £50k and above Are you a home owner? yes no When should we call you call me now 8am - 9am 9am - 12pm 12pm - 4pm 4pm - 6pm 6pm - 9pm
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