debt management news

One hundred companies claiming to offer debt management services or personal injury compensation services have been closed down since April 2007, according to statistics from the Ministry of Justice.

Bankruptcy is a financial resolution that may be considered by someone who can no longer afford to pay their debts. It is usually considered the 'last option' for people who have accrued a large amount of debt and cannot afford the repayments.

Once you have been declared bankrupt, your remaining debts are written off, however you should consider this option very carefully, weighing up the pro's and con's of other debt solutions that may be available to you.

A period of bankruptcy usually lasts for one year, although in some cases this is reduced.

A County Court Judgement (CCJ) is a judgement issued by the court when you have failed to meet the payments as part of a credit agreement such as a personal loan, utility bill or credit card.

A court can order a CCJ if it believes that you owe money to a creditor, with the order detailing what you should pay based on what you can afford. The amount agreed in the CCJ may be lower than the original debt.

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We know debt can be an overpowering factor, especially in today's financial climate and that everyone needs a tailored approach to managing their debt. Whatever the change in circumstances may be, we help you become informed of the best course of action to get your debt under control.

Loans are one of the more common forms of credit available and are a popular means of paying for many high-value goods, such as a new car or home improvements.

For many people, loans are a useful form of credit which can enable them to purchase high-value products or make improvements which can improve the value of their property.

For other people, loans can be a means of consolidating multiple debts into one, simple monthly payment, making it easier to plan your finances and keep control of your debt situation.

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