trapped.co.uk - the debt management calculator
Would a debt plan suit you? Find out in minutes now »
A debt management plan is an informal arrangement that will allow you to pay off your debts with one monthly payment. The money will be split between the people you owe.
In most cases, it means you can freeze your interest charges and extend your repayment terms.
What are the alternatives to debt management? |
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IVA
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Clear up to 60-70% of your debt and you could be debt free in 5 years |
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Debt Consolidation Loan
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Use the equity in your home to reduce your monthly repayments |
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Trust Deed
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A formal debt repayment plan for Scottish residents |
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Bankruptcy
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Your assets are seized - most people want to avoid this |
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15.1% APR Typical variable
WARNING: THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. ALL LOANS SUBJECT TO STATUS. BY TAKING OUT A CONSOLIDATED LOAN, THE REPAYMENT PERIOD IS USUALLY EXTENDED TO REDUCE THE MONTHLY REPAYMENTS AND THAT CAN INCREASE THE TOTAL COST OF THE LOAN.