How to Become Debt Free

If you are looking to become debt free, you may feel daunted about how to go about finding a debt solution. If your debt has grown to a level where it is unmanageable and you feel as though it is a struggle to even meet the minimum monthly payments it is essential that you seek debt advice.

Becoming debt free is rarely simple – and it is much harder to dig yourself out of debt than fall into the cycle of mouting debt. But seeking professional debt advice is the perfect way to start the journey of becoming debt free and repaying your debt. One Advice are a financial solutions company who can help you deal with your debt in the best way possible. Our debt solutions include:

Debt Management Plan

  • Informal arrangement between you and your unsecured creditors.
  • Repay your debts at a level you can afford.
  • One smaller monthly payment to make.
  • Interest rates and charges could be frozen.
  • Suitable for those with unsecured debt levels under £12,000.

IVA (Individual Voluntary Arrangement)

  • Legally-binding agreement betwe.en you and your unsecured creditors.
  • Make lower monthly repayments
  • Debt free in as little as 60 months.
  • Avoid bankruptcy and keep your home.
  • Suitable for those with unsecured debt levels over £12,000.