Debt Free Solutions

If you are looking for a solution to become debt free, you might find the choices available are a little overwhelming. The Debt Free Test can help you to see what debt solutions are suitable for you.

The quickest way to see what debt solution is right for you is to speak with one of our professional debt free advisors. They will take details about your financial situation so that they can ethically recommend a debt solution which is right for your debt free future. Call today on 0808 131 0039.

Your Debt Free Solutions

Debt Free can offer you free debt advice on a range of debt solutions, including:

• Debt Management:
  A debt management plan is most suitable for those who have debts under £15,000 and are struggling with large monthly repayments to their creditors.
  You can consolidate your existing unsecured debt into one manageable monthly payment and creditors are sometimes willing to freeze additional interest and charges on your debt.
• IVA:
  An IVA (Individual Voluntary Arrangement) is a legally binding contract between the debtor and their creditors. It is usually only suitable for those who have debts over £15,000 and can afford a minimum monthly payment of at least £200.
  Once your IVA proposal has been agreed, you make one monthly payment which will be evenly distributed. After the IVA term is complete any remaining debt will be written off as part of the agreement. If you are a Scottish resident then a Trust Deed is your IVA alternative, and offers similar debt free benefits.
• Bankruptcy:
  Bankruptcy is probably the most extreme way of dealing with your unsecured debt. Debt Free believe that is should only ever be considered as an option when you have exhausted all other debt solutions. A Bankruptcy Order means that you lose all control over your finances and any assets can be sold to your creditors.

Debt Free can offer you a choice of the leading debt solutions, the right one for you is dependant on your personal circumstances. For free advice about what solution is right for you and your debts, please call Debt Free today on freephone 0808 131 0039.

Entering into an IVA may adversely affect your credit rating for up to six years from the date of approval.

Your property will be protected within an IVA but you may be required to release all or part of any equity during the period of the arrangement.

Failure to complete the term of an IVA can result in bankruptcy.

(In Scotland, a PTD is the equivalent to an IVA.)