Breathing space is a government scheme which is designed to give you time to receive debt advice and find a solution to sort out your debt problems.
Read MoreAn agreed arrangement (formal or informal) to repay your debts over time based on an amount you can afford.
Read MoreA legal process which writes off your unsecured debts.
Read MoreAn accessible legal process to write off debts of up to £30,000 for those on low incomes who have no assets.
Read MoreA formal agreement for those with surplus income and/or assets, to repay debts over a 5-6 year period. Some residual debts may be written-off at the end of the scheme.
Read MoreA payment plan for debts under £5,000, managed for you by the Court. Some debts may be written off. Must have a CCJ to qualify.
Read MoreNegotiating with creditors to cancel debts you owe, based on exceptional personal circumstances.
Read MoreSome creditors may be willing to accept an offer lower than the amount you owe to repay your debts.
Read MoreAn asset is anything you won that has monetary value. You may be able to release money from your assets to clear some/all of your debts.
Read MoreIn certain limited circumstances, you may be able to release money tied up in your home to repay your debts.
Read MoreConsolidating debt usually means taking out a new, more favourable loan, to reduce the number or cost of your debts.
Read MoreTaking money from your pension pot to repay debts. Only suitable in very specific circumstances.
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