You may have noticed tempting offers when you search for debt. They provide seemingly impossible promises such as: “Write off unaffordable debt” or “Government lets you write off your debt.” There are also clone firms that imitate authentic and trustworthy charities and companies. Scammers set these up to trick you into giving personal information or financial details. Be extremely careful before clicking on some of these links.
These companies charge significant fees to act as an intermediary between yourself and insolvency practitioners. These tactics are used to prey on the most vulnerable and desperate within society. They will advise you to take the path that gives them the most profit, not what’s most beneficial for you. However, you can directly access Insolvency Practitioners for free through the government page.
There are four possible ways of getting rid of debt:
♦ Repay it: if you are struggling to make payments, notify your creditors. Most lenders are willing to accept a reduced payment plan
♦ Debt Relief Orders (DRO)
♦ Individual Voluntary Agreements (IVAs)
♦ Bankruptcy
The last three are contained within their sections and have their eligibility criteria. Choosing which one is most fitting for you can be an overwhelming experience.
How we can help
Leston’s can provide generic guidance on debt matters, for individual guidance however we would refer you to an approved independent financial advisor who would take the lead in guiding you through the various options. For assistance simply click on the “Create a case” link at the top of this page to initiate a case.
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