The Consumer Credit Counselling Service (CCCS) is the biggest debt advice charity in the UK. It is fundamentally an advisory service for individuals or families who have got into financial difficulties, although it also offers professional debt management services when…
Voluntary bankruptcy basically means that you want to declare yourself bankrupt, where you petition your own bankruptcy. The other type of bankruptcy is where one of your creditors has started to take action against you many times against your wishes.…
First of all you’ll have to complete a Bankruptcy Petition form (6.27). This form will be your official request to the court that you are planning on declaring yourself bankrupt. A Statement of Affairs (6.28) is also completed this is…
Just like births, deaths and marriages bankruptcy is a matter of public record. Bankruptcy is recorded on what is called an Insolvency register which is sometimes referred to as the Bankruptcy register. IVAs and Debt Relief Orders are also included…
Many IVA advisors would tell you that you must have unsecured debts of 15,000 or more, should have three or more creditors and that you should be able to afford to pay £200 each month towards your unsecured debts. Well…
What with the global financial crisis and the resulting credit crunch more and more people are finding themselves in financial difficulty. This website is here to help inform you of ways that you can manage your debts by coming to…
Bankruptcy is the last resort when you cannot afford to pay back your debts, and is considered a way of making a new start when all other possibilities have been exhausted. You can voluntarily declare yourself bankrupt, or can be…
An Individual Voluntary Arrangement (IVA) is a formal agreement between you and your creditors in which you arrange to pay back a certain percentage of the money that you owe over a set period of time and at a lower…
A Debt Management Plan (DMP) is an arrangement that enables people who are in debt to a number of different creditors to make one monthly payment each month through a debt agency or charity, who will in turn pay back…
A consolidation loan is when lots of separate loans are combined into one single loan with one repayment schedule. People who have a lot of different loans from a number of creditors will often decide to take out a consolidation…