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Debt Repayment Contract

Debt Repayment ContractDebt Repayment Contract

One solution to debt is a debt repayment contract. A debt repayment contract can help you to avoid court action from your creditors. By sitting down and arranging a debt repayment contract you could save money on your debts. Pay back a realistic and affordable amount each month and you could never receive another warning again. There are different types of debt repayment contracts, including:  

  • A Debt Management Plan – An option for those who owe more than £5,000 in unsecured debt and can spare at least £100 a month. Offers an affordable debt repayment contract between you and your creditors

  • Individual Voluntary Arrngement (IVA) – An option for those who owe more than £15,000 and can spare at least £200 per month to pay back creditors. Avoids the stigma of bankruptcy and could write off as much as 65 per cent of your debt if you comply with the plan for five years

If you think a debt repayment contract will be right for you, fill in the form below and one of our debt specialists will be in touch with all the debt advice you need.