Once you have made a full and complete list of all your creditors, there are a number of ways to help you clear your debts. You can negotiate suitable repayments with your creditors, using your financial statement and an informal agreement, and we show you how to work out the pro-rata calculation you'll need to be able to do this.
You may decide that you don't want to deal with your creditors yourself, and would rather let a debt management company arrange suitable payments, or you might consider taking out a consolidation loan to pay off all your debts at once.
If you owe a considerable amount of money, an IVA (Individual Voluntary Arrangement) might be the way to go: this agreement allows you to repay your creditors over a number of years, but allows you to write off any debt remaining at the end of that period.
Finally, if all else fails, we take a look at bankruptcy, and whether or not it might be the right solution for you.
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