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Contact us for free advice, no matter what your financial circumstances are.

Only organisations who are licensed by the government can give advice on your debts - speak to one of our impartial experts.

As licensed insolvency practitioners, it would be inappropriate to identify a final solution based upon the quick calculator. However the information below highlights some of the pros and cons of a range of solutions. For further help and advice please complete the application form above. We offer free, non-judgemental advice whatever your situation.
Your details: You currently have £ of unsecured debt. Your monthly repayments are £, however you can only afford to pay £. You are not a home owner. From this we can make the following initial assessments...

IVA

An IVA is not suitable for someone with unsecured debts totalling less than £6,000.
Note: Perhaps you need some assistance to identify all your creditors. - We take time and care to give the best chance of a successful outcome for all who contact us.

Your monthly payments could fall in line with what you are able to afford.
Interest payments are frozen.
Terms are fixed, so the creditors cannot make any further demands or charges. No more pressure calls or debt-collection threats.
As long as you abide by the arrangement, your home and assets are protected.
At the end of the term you will have nothing more to pay to the creditors.
An IVA does have an adverse effect on your credit score. However, this will not be permanent but you would not be able to make any further borrowing whilst in an IVA.

Debt Management

You seem to be able to afford your agreed expected monthly repayments to your creditors.

Your monthly payments could fall in line with what you are able to afford.
It is not always possible to have interest payments frozen.
The creditors are not bound by the arrangement and could act and apply pressure to recover funds at any time.

Secured Loan

In your case, you seem not to have any equity to make this an option for you.

If you would like any assistance determining your equity eligibility, contact us for free and helpful advice.

Bankruptcy

We would only recommend bankruptcy as a last resort.

We would urge you to contact us so we can fully assess your situation.

It is considered the fastest way to make a fresh start.
All your unsecured debts are written off and you will receive no further communication from your creditors.
You will no longer be in control of all your assets (including your home). Anything of substantial value will be used to pay for court fees and repayments to creditors.
Bankruptcy has a significant effect on your credit file lasting 6 years.
The bankruptcy could affect any employment or potential business. It is often a criterion for exclusion from some professions or offices.
The process could be quite stressful. It is possible that family members or an employer may be examined in court if they believe it aids an investigation.