Debt Solutions | IVAs | Debt Management Plans | Bankruptcy Advice
IVA (Individual Voluntary Arrangements | Debt Management Plans | Trust Deeds (Scotland only) | Bankruptcy
The Debt Solutions we offer
At Debt Shield, we can offer a range of Debt Solutions to suit you. All of our information and advice on such solutions is free and in confidence. You are not obliged to enter into a solution, simply by discussing it. It is only natural that you want to know as much information as possible before deciding to enter into anything. It is not a subject to be taken lightly.
Also, you can be assured that you will only be advised on what solution is best for your needs. There is no point in putting you into a certain solution, only for it to fail on you. It has to suit you in the long term.
The debt solutions we can offer advice on are:
General Debt Advice
We are able to give you general debt advice on an array of issues which may affect you. If we cannot provide the solution ourselves we will put you in contact with the best people who can help you in your particular circumstances.
For general Debt Advice call me on 0800 1699 514 or contact me now.
IVAs (Individual Voluntary Arrangements)
An IVA is a formal and legally binding agreement between you and your creditors whereby you offer an agreed monthly payment for a fixed period (normally 60 months) after which time any outstanding balance is written off. This may be arranged according to your individual circumstances and your creditors agreement.
Read more about IVAs...
Debt Management Plans
Unlike an IVA a Debt Management Plan is an informal arrangement between you and your creditors. It involves making offers of payment to your creditors based on what you can afford to pay back. The payment is made on the basis of equitable distribution according to the amount owed to each creditor.
i.e. If you owe one creditor 40% of the total debt then they will receive 40% of the agreed repayment in your debt management plan.
Because a Debt Management Plan is informal it is not a legally binding agreement. You or your creditors can opt out of the agreement at any time.
Read more about Debt Management...
Trust Deeds (Scotland Only)
A Trust Deed is a legally binding agreement drawn up between you and your creditors in which you agree to pay your creditors a percentage of your total debts, based on how much you can afford each month.
read more about Trust Deeds...
Bankruptcy
Bankruptcy is a formal insolvency process and we consider it to be a last resort. You can either declare yourself bankrupt or it is possible that one or more creditors may bankrupt you. For more detailed information please see the Insolvency website http://www.insolvency.gov.uk.
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