Types of Debt

There are all types of Debt , Wiki summs it up by saying that :

Debt is that which is owed Wikipedia definition of debt

Debt can range from personal debt through to business debt.

Common Forms of Debt

Individual Debt normally amounts from the likes of credit card bills, Council Tax and Utilities, Bank Loans.

There is a number of different solutions to debt problems; some solutions are better suited at dealing with certain situations, where as some debt solutions might be more better and moreappropriate for others. 

Debt Solutions – Exploring The Options Open

For some people, just one solution may be sufficient, but others may need to explore more than one avenue to deal with their debt problems.

What ever you decide – it is important to know your options and fully understand what you are signing up to.

Debt Help – What Help Is Out There to Help People In Debt

There numerous typs of Debt Help out there… but all of them have their pros and Cons.

 

 

What Type of Debt solutions are available to me and does it fix my needs

 Question

Debt Management

Debt Consolidation

IVA

Bankruptcy

Which debt solution can save me from re-mortgaging or selling my house?

Yes

No

No

No

Is this debt solution a confidential solution

Yes

Yes

Yes

No

Will this debt solution avoid the stigma of bankruptcy?

Yes

Yes

Yes

No

Will creditors accept less than I owe?

Yes

No

Yes

yes

Is this debt solution most likely to reduce my monthly payments?

Yes

no

no

yes

Will creditors stop adding interest to my debts?

Yes

Effectively, interest is transferred to your new secured loan or re-mortgage

If you are a home owner, effectively interest will be transferred to the re-mortgage that your creditors may demand.

yes

Is the debt solution a flexible plan that can be easily altered if my circumstances change?

Yes

No

No

No

Which debt solution enables me to change the monthly amount that I am paying?

Yes

No

No

No

Which debt solution does not have expensive fees?

Yes

No

No

Yes

Will it adversely affect my credit rating?

Will not make it any worse than it already is.

No

Yes

Yes

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~ by debthelpsolutions on September 17, 2008.

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