Clear Debt

As more and more people are finding their finances increasingly difficult to manage, clearing debt is a top priority. If you have financial problems and you need to urgently clear debt, read on to discover some of the measures you can take.

Clear Debt - Check for Unenforceability

One of the first steps on the road to being clear of debt is one that many people miss. This is to check whether or not the debt you have is unfair and therefore unenforceable. Of the millions of credit agreements that are signed in the UK each year, it is estimated that many could be unenforceable and therefore, the debt could be cleared. Under the terms of the Consumer Credit Act, credit agreements have to meet a series of criteria, otherwise you may be able to tear up the contract. To find out if your debts could be unenforceable, call our team today on: 0800 038 2233.

Clear Debt – Budget

One of the most effective ways to clear debt is to look at your income and all of your outgoings and budget accordingly. This should ensure that as well as being able to clear existing debt, you don’t run up any further debt.

Clear Debt - Restructuring

Many people can clear debt with effective debt restructuring, this can include remortgaging, which can free up some of the value in your home which you can then use to clear debts.

Clear Debt – Consolidation

Consolidation loans combine all loans into one single payment can help to clear debt and make payments more manageable.

Clear Debt - IVAs

An increasingly popular way to clear debt, IVAs involve reaching an agreement with your creditors which will see you pay a percentage of the amount owed over a set period of time, after which the debt is fully repaid. IVAs are usually undertaken by a specialist debt clearing company.