Debt Correct

Protected Trust Deeds

Government Legislation is in place to help people who are finding it difficult to meet repayments each month. Priority must be given to paying general living expenses; once these are paid any excess funds should be used to make debt repayments. An administration order may be a solution for you and can include existing county court judgements. A number of options are available to arrange reduced monthly payments depending on personal circumstances. These vary from reducing monthly payments, and freezing interest to reducing debt balances by up to 75% for large debts.

What to consider 

• No more borrowing during the IVA period
• Credit rating is poor for a further year after the IVA
• Requires the majority of your creditors to agree
• Five year period for IVA
• The equity in your home may be required to be released by the creditors to pay to your outstanding debts

 

If you would like to discuss this option with a trained advisor, then phone 0800 157 7314 for a confidential discussion.

Contact us for more information