Comparison of debt solutions

It can sometimes be confusing when presented with a number of different debt solutions to decide which one is the best option for you. We've created the table below to help you compare debt solutions, from IVAs and Debt Management Plans to debt consolidation loans and bankruptcy. The following comparison table should help you make your decision.

Question	IVA	Debt Consolidation	Debt Management	Bankruptcy	Debt Relief Order
Will my debts be wiped clear within an agreed period?	yes	no	no	yes	yes
Will interest be frozen?	yes	no	sometimes	yes	yes
Will charges stop?	yes	no	sometimes	yes	yes
Will my monthly repayments be reduced?	yes	maybe	yes	yes	yes
Will I be protected from unsecured creditors?	yes	no	no	yes	yes
Can I keep my house?	yes*	yes*	yes*	no	n/a
Are all creditors legally bound to write off debt I can't afford?	yes	no	no	yes	yes
Will creditor action stop?	yes	no	sometimes	yes	yes
Will my credit-rating be damaged?	yes	maybe	probably	yes	yes
Is it a confidential procedure?	yes	yes	yes	no	yes
Will I avoid the stigma of bankruptcy?	yes	yes	yes	no	yes
Is the procedure dealt with by a professionally qualified and licensed specialist in personal debt?	yes	no	sometimes	yes	sometimes

*as long as you maintain your mortgage payments

To find out in more detail which of these options suits your current financial situation complete our short online contact form now.

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