We supply a range of services to individuals to consolidate personal debts and businesses having financial problems and clear debt. Our award winning debt advice team are experts in identifying and resolving issues involving all debt related issues. If you have been refused loans to clear debt there are many alternatives.
We have over 100 staff in our UK based offices making us one of the largest dedicated teams in the UK dealing with debt issues. We have dedicated sector specialists covering bankruptcy, IVA, debt management plans, company insolvency and more.
For further details of our services or to discuss your needs, please call 0800 074 6918. The service is free and without obligation.
We have helped individuals and business with debt problems for over 15 years. We understand how easy it can be to take on too much easy credit, and how hard it can be to cope with the consequences of debt. Our excellent understanding of bankruptcy and the IVA procedure and our reputation within the UK credit indsutry means our no-fuss, confidential service will be highly effective for you and give you real long-term relief from debt.
The earlier you start to tackle the problem, the easier it will be. If your financial situation is in danger of becoming serious, do something about it now. The worst thing you can do if you're having money problems is to just ignore the situation. It's often the case that people assume they'll be able to pay off their debt in the future when they start earning more money. Interest charges and late payment fees could mean that you're faced with a debt that's a lot more than you expected - sometimes double the amount you originally owed.
If you are worried that you may be getting into debt then E-insolvency will be able to give you free advice. Call our FREE personal debt helpline for further help on 0800 074 6918. One call to E-insolvency will start to clear your personal debt problems.
Thousand of individuals and businesses are seeking to declare themselves bankrupt in a bid to write off their debt every day. The good news is that there are alternatives such as:
An IVA is a formal alternative for individuals wishing to avoid bankruptcy.
The IVA was established by the Insolvency Act 1986 and constitutes a formal repayment proposal presented to a debtor's creditors via an Insolvency Practitioner. Usually (but not necessarily) the IVA compromises only the claims of unsecured creditors, leaving the rights of secured creditors largely unchanged. An IVA is ideal if you have been refused loans to clear debt.
An IVA is a contractual arrangement with creditors and can be as flexible as an individual's own circumstances; they can therefore be based on capital, income, third party payments or a combination of these. An IVA is ideal alternative to bankruptcy to clear debt.
Creditors take a decision at a creditors' meeting called to consider the IVA proposal. The return to creditors is often higher than they would receive in bankruptcy. A vote is taken - by value. More than 75% in value of those creditors who vote at the meeting by person or by proxy must agree in order for the arrangement to be approved. If any of those voting are 'associates' (usually business associates, friends and family) then a second count is taken and 50% of non-associated creditors must approve it.
Trust Deeds for debt management help in Scotland over £8,000
The Protected Trust Deed (PTD) is a formal arrangement that is used in Scotland where a consumer debtor grants a ‘deed’ in favour of the trustee which transfers their assets to the trustee for the benefit of creditors.
Provided certain conditions are met, the Trust Deed may be registered as “protected”, thereby preventing creditors from petitioning for the debtor’s sequestration.
The main advantage of entering into a trust deed are that it takes the pressure off as all correspondence and the Trustee will handle all of the communications from a persons creditors.
Bankruptcy for debt management help over £750
Bankruptcy is an option that often has to be considered when an individual cannot pay their debts as they fall due. A first time bankrupt with debts will generally receive their discharge one year after the date of the bankruptcy order. If you have been refused loans to clear debt then bankruptcy may be the only option.
Although bankruptcy has a bad stigma and is publicly advertised, it should always be considered when dealing with individual insolvency cases.
Please note that if your are ever faced with the prospect of bankruptcy you should look at alternatives as soon as possible such as the Individual Voluntary Arrangement procedure (IVA).
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FOR ADVICE ON ANY OF THE ABOVE TOPICS PLEASE CALL 0800 074 6918