How to Avoid Bankruptcy

Bankruptcy does not have to be your only option out of mounting debt and there are other alternatives.

Our advisors are on hand to offer you a number of ways to avoid bankruptcy, please call us today on 0800 048 1768.

Bankruptcy alternatives include:

• Debt Management Plan
• Debt Consolidation
• Individual Voluntary Arrangement (IVA)
• Trust Deeds (Scotland only)

Avoiding Bankruptcy with an IVA

IVAs were introduced by the Government as a viable alternative to bankruptcy. This legislation means that a proportion of your debt is written off as part of the agreement but you won't have to sell any of your major assets (although you might be asked to release some equity in your home).

An IVA is a legally binding agreement between your creditors and yourself. You will become debt free within 60 months, and at the end of your IVA any unpaid debt is written off.

The number of people choosing to file for bankruptcy is increasing every year but the Government initiated IVA is another way out of debt. We can offer you help on your options, so please call our free on 0800 048 1768 or fill in our online form today.