Bankruptcy Alternatives
Debts Management believe that bankruptcy should always be your last option to free yourself from debt. There are other debt solutions on the market, and we advice that you explore these options before you declare yourself bankrupt.
Bankruptcy alternatives include:
For free advice and information about bankruptcy alternatives, please call the Debts Management team on 0808 131 9112.
Entering into an IVA may adversely affect your
credit rating for up to six years from the date of approval.
Your property will be protected within an
IVA but you may be required to release all or part of any equity during the
period of the arrangement.
Failure to complete the term of an IVA can
result in bankruptcy.
(In Scotland, a PTD is the equivalent to an IVA.)