You could write off up to 85% of your unaffordable debt
Catalogue Debts Written Off,Catalogue Debt,What is Catalogue Debt?

Day: 16 September 2021

Personal Loan Debt

Why is Unsecured Debt Bad?

Unsecured debt, like a personal loan, is a very straightforward way to borrow money. You received an amount of money from the lender and you agree to pay that money back in instalments along with any interest.

Hire Purchase

What Happens if I Don’t Pay Hire Purchase?

Hire Purchase is most commonly used to buy cars; however, some businesses will use it to purchase expensive equipment. As long as you consistently make your repayments, once your payment term has ended, you will own the item outright.

Secured Loan Debt

Is Secured or Unsecured Better?

Finance agreements and debts generally fall under two categories: secured or unsecured. Secured debt means that you have offered an asset as collateral, should you fail to pay the debt.

IVA Trust Deed

How Does a Trust Deed Work?

A Trust Deed is a legally binding agreement between you and your creditors to pay back a portion of the money you owe over a set period of time (usually 4 years). At the end of the agreement, if you have followed the conditions of the arrangement, any remaining debt will be written off.

Minimal Asset Process

What is MAP Insolvency?

Minimal Asset Process is a type of bankruptcy only available in Scotland. It is designed to give those with debts they can’t repay within a reasonable amount of time a fresh start.

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