The advantages and disadvantages of Bankruptcy a summary

September 29, 2007

A person petitions for Bankruptcy when they cannot afford to pay their debts and need to start afresh. Bankruptcy is a formal solution that you can solicit yourself at the court. It’s rare that a creditor will petition the court to make you bankrupt as it costs them money but it can happen. Typically bankruptcy […]

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Final Settlement IVA, Solve your debt problem with a single lump sum payment

September 27, 2007

The majority of IVAs, are monthly repayment IVAs, which, as described in the IVA facts article, involve the debt being paid over a five year period. An alternative, where the debt is settled once and for all by the payment of a lump sum is called a final settlement or lump sum IVA. This is […]

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IVA Facts, the truth about the disadvantages and advantages of an IVA

September 22, 2007

An Individual Voluntary Arrangement or IVA is a legally binding agreement between you and your creditors. You agree to make monthly payments towards repaying your debt over a period of five years. If there is debt remaining then it is written off. (However, please be aware if you choose the IVA route that there are […]

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Debt Management Plan a summary of the advantages and disadvantages

September 19, 2007

A Debt Management Plan (DMP) is an informal solution to your debt problem that allows you to repay your creditors at a reduced monthly rate that you can afford. It’s not a great solution as paying the debt can take years longer and your creditors can alter the agreement you make with them at any […]

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Advantages and Disadvantages of Debt Consolidation a summary

September 18, 2007

[ad name=”Google Adsense-main”] Debt Consolidation is a solution for someone who has plenty of disposable income. Many people with credit and store card debt pay exorbitant interest rates, in some cases as high as 25%. It doesn’t take a genius to understand that if you were to pay a lower interest rate for such loans […]

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Escaping your debts via emigration. The skip solution to a debt problem.

September 14, 2007

I call this debt solution the “skip solution” as “skip” is the term used by debt companies to classify people who have literally skipped the country without paying off their debts.

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What debt solution is suitable for me? Financial checks and questions to ask.

September 12, 2007

Having completed your statement of affairs you can now try and get a general idea of the best debt solution for your situation. It’s important to take your time to get all the facts about the debt solutions available. Don’t hurriedly decide on a specific debt solution such as an IVA without learning the alternative […]

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How to document your debt situation, your statement of affairs

September 8, 2007

[ad name=”Google Adsense-main”] In order to tackle your debt problem, you need to organize and gather information on your personal financial situation into a document called a “statement of affairs”. This article explains how to construct your Statement of Affairs (SOA) and offers pointers on some of the downloadable tools and examples that you can […]

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Five Debt Destroying Actions to Take Prior to Choosing your Debt Solution Part II

September 5, 2007

This is the second part of two posts on the actions you need to take prior to choosing your debt solution. The first part is here

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Solving your debt crisis, Five Debt Destroying Actions to Take Prior to Choosing your Debt Solution

September 5, 2007

So you have finally admitted to your debt problem and have informed yourself of the potential solutions available. After receiving professional debt advice, you are now determined to proceed with a debt solution to destroy your debt problem once and for all. Is there anything else left to do?

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