Debt Consolidation is a method used by many self employed people/sole traders to consolidate their debts into one lower affordable payment, therefore making your monthly outgoings more manageable. Debt Consolidation is normally successful if you have some sort of asset to put against the loan, such as your home or a business property, also referrred to as a secured loan. This enables the provider to have some sort of security over the debt being paid.
If you would like information on how you can deal with your personal or business debts, please contact us at Business Debt Advice where our team of friendly advisors will be more than happy to help.
IVAAn IVA is a legal agreement between you and your creditors where you pay back a portion of the debts that you owe. |
Debt ManagementA Debt Management Plan is an Informal Agreement between you and your creditors where you pay back your debts at an affordable monthly rate. |
Personal BankruptcyBankruptcy should only be considered as a last resort. Bankruptcy is a way of dealing with your debts if you are unable to pay them. |
Debt ConsolidationDebt Consolidation is a method used by many people to consolidate their debts into one lower affordable payment. |