Why choose Debts Solutions?

Responsibilities and unending demands cause an individual to go into debts that sometimes can’t manage. Get frustrated, imbalance, etc…… Struggling with finances leads an individual to debt solutions. Penny solver is ready to bring you out of difficulties by guiding you to connect with the right solution providers that will protect and give you the worth of each penny.
Making the arrangement of organizing the many outstanding creditors who often demand different amounts of money which are spread throughout the month can be stressful and time consuming.
If you have by any means fallen into debts and you have tried all you could to pull out of these unending debts, and it seems nothing is working out, you are on the right page. We at penny solvers provide different options and give a well tailored guide that will ease your burden and finally get you relieved from debts. Our debt relief solutions are; debt management, individual voluntary agreement (IVA), debt relief order, trust deeds…

Frequently Asked Question


What debt solution will be best for me?
It all depends on your income and affordability; it also depends on your location and assets. Not all solutions will involve your assets. You can get more details by surveying and looking into our pages on this website.

Why should I choose debt solutions as the only way to relief me from my debts?
The real challenge is not in finding a program but in choosing which one is the best solution for your particular financial situation. When you choose debts solution, this might likely be the benefits:
Your debt repayment can be simplified by combining it into a single payment scheme. You can restructure your payment plan into a longer period; you can also aim for a lower interest rate.

How much income do I have to earn to choose from this debts solution?
It all depends on the type of solutions you are opting for, check our website for more details

Are there any legal actions involved?
In debt management plan, legal actions can be taken.

DEBT SOLUTIONS

Debt Management Plan

A Debt Management Plan is an adaptable  obligation arrangement which may be appropriate on the off chance that you are attempting to deal with your obligations (above £1,000) and month to month reimbursements. Read More

Bankruptcy

A Bankruptcy should just be looked for if all else fails. On the off chance that you do petition for chapter 11 you won't have the capacity to get the credit effortlessly later on and you may battle to get a home loan in united kingdom. Read More

IVA

An IVA is reasonable for you on the off chance that you have obligations of roughly £10,000 or all the more inferable from at least two loan bosses and can stand to pay in any event £100 every month into the course of action. Read More

Trust Deeds

They are again a formal understanding amongst you and your loan bosses to reimburse the obligation owed to them. The typical term for a Trust Deed is four years (4 years), after this period any outstanding obligation is composed off. Read More

Debt Relief Order

A Debt Relief Order is a milder type of insolvency. It is a legislature sponsored plot which is given by the Insolvency Service and can be a powerful method for clearing your obligations on the off chance that you are as of now out of work or have a low salary. Read More

Debt Management PlansIndividual Voluntary AgreementTrust DeedDebit Relief OrderBankruptcy
It take many more yearsIt takes 60-72 monthsOnly for those in ScotlandOnly for those in England, Wales and Northern IrelandIt takes 1 year
Creditors can still take legal actionLegal actions are not takenLegal protection from creditor action

 

Creditor calls/correspondence stopped once the order is accepted

 

Legal protection from creditor action
Home is less protectedHomes are protectedAssets can be sold offHomes are protectedAssets can be sold off
Interest and charges are not guaranteed to be frozenInterest are frozenInterests are not frozenAdditional charges and interest will be frozen on creditor acceptance of a DRO

 

Interests are not frozen
DMP will not write-off any unaffordable debtUnaffordable Debts written-offDebts are not written offMajority of any outstanding balances can be written off completelyDebts are written off after being declared bankruptcy

 

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