Alternatives to Debt Management

The Debt Helpline can advise you on a number of Debt Management alternatives. To speak to our specialist debt management team, contact Debt Helpline free on 0800 0481 778.

Debt Management Alternatives from Debt Helpline

If you are struggling with debts but feel as though a debt management plan is not right for you there are alternatives to debt management for you to consider. The Debt Helpline can advise you on a number of alternative solutions, including:

• IVA - Best suited to those with debts over £12,000. An IVA is a legally binding contract which typically allows you to make payments for a period of 60 months, after which you will become debt free.
• Secured Loan - A secured loan could consolidate your unsecured debt into one smaller payment. But this type of loan will be secured on your house, so you should always ensure that you can afford your loan payment.
• Trust Deed - The Scottish alternative to an IVA. Unaffordable debt is still written off and you pay back a monthly payment over an average of 36 months.
• Remortgage - You could potential remortgage your home to pay off your unsecured debt. But, like a secured loan, it is important that you know you can afford your new payment.

The above are all potential alternatives to debt management, but it is always advisable to talk with someone first so you are fully aware of all your options. Contact Debt Helpline today on 0800 0481 778.