Who are the CCCS?

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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…

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What does voluntary bankruptcy mean?

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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.…

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What is the bankruptcy register?

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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…

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Who can enter into an IVA?

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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…

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What is bankruptcy?

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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…

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What is a Debt Management Plan?

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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…

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What is a Consolidation Loan?

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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…

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