This is an interesting area for me, as I’ve been doing some looking into the various charities that help people with their debts. There are some very big and obvious ones, such as Citizens Advice Bureau and Consumer Credit Councelling Service who offer services on a national level, either through local branches or via a centralised [...]
Otherwise known as an IVA, an individual voluntary arrangement is a formal agreement between you and your creditors whereby you agree to repay what you can afford over a period of five years.
An IVA must be setup through an insolvency practitioner, and so it will cost you money to setup.
All of your creditors get a [...]
This article is meant as an aide to yesterday’s article, how to setup a debt management plan, and is a thorough guide on how to prepare a budget for your creditors which can be used to convince them that you really can’t afford your debts any longer.
When preparing a budget, it is absolutely essential that [...]
When I first came to realisation that I wouldn’t be able to pay my debts, I sought advice from the Consumer Credit Counselling Service. Their advice, whilst being quite helpful to a degree, can only really be taken with a pinch of salt.
Why? Because, as I understand it, they are a charity which receives a [...]
This is my first entry in what will become a free resource for people looking to eliminate debts.
My story is that I am in the process of writing off my debts as we speak. So far I have agree full and final settlements with two of my eight creditors.
The total amount of debt for these [...]
