Abacrombie Debt Management Comparison


What Debt Help Options are available to me?
They are various ways to tackle debt problems. Here is a comparison of Consolidation Loans, Debt Management, an Individual Voluntary Arrangement and Bankruptcy.
 
 
Questions
IVA
Bankruptcy
Debt Management
Refinancing
Does it legally protect me from all creditors' harassment and court action?
Is my property protected from creditors forcing a sale in order to introduce equity?
Will this agreement automatically stop all future interest and charges on my debts?
If a creditor doesn't agree to the scheme can they be compelled to do so anyway?
Will a proportion of my debt be written off?
Is it a private arrangement?
Does it run for a fixed period of time?
If there is a complaint is there a regulatory body that I can turn to?
Does the arrangement have to be administered by a qualified professional?
Will it affect my credit rating?
 
Do nothing at all
 
Doing nothing may be considered by some people to be the easy option, but it is in fact the worst choice of all.
 
Your debtors will not stop chasing you, they will continue to add interest, charges and Court fees to your account, and if you are a homeowner they may be able to convert their unsecured debts into debts which are secured on your home.
 
Debts will not go away on their own, they have to be dealt with. 
 



 


 


Debt and Bancruocy adviceBankruptcy – a complete guide to IVAs and business bankcrupcy

When you or your company are made bankrupt, your assets (possessions, home, income etc) can be used to pay your debts. You have to agree to certain restrictions and your financial affairs will be investigated. Find out how bankruptcy affects you and where to get advice on dealing with your debts.

see our Bankruptcy Advice Centre

bankruptcy advice

Debt Management

  1. Your options at a glance
  2. Debt Management Comparison
  3. Credit Scores and what you need to know