What Are My Options To Get Out Of Debt?

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Question Hi, I owe £19,000 and there is no way I can pay this back. The debt is made up of a few credit cards, and a consolidation loan. I lost my job and cannot find suitable work in part due to my age. I am 65. I want to know what my options are? […]

Should I File For a Debt Relief Order Before I Leave The UK?

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Question Debts around 25k. Moving abroad for job paying less than UK job in August, already served notice in UK. Reason for this is various unstable mental health, want to be closer to my family. Lived in UK for last 8 years, British citizenship obtained. With my job abroad my earnings will just equal allowed […]

Today in UK Debt: 30/03/2022

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Victims of Buy Now Pay Later BNPL is not a new thing, you can read more about it here. However, according to Experian, one of the UK’s credit bureaus, it can be a problem for some, in how it affects their credit score. Experian explains it all here. More Debt News and Advice Rightsnet has […]

Is Bankruptcy The End Of The Credit Line?

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One of the first things someone thinks of when they are in major debt and need to get out of debt as they can no longer afford to repay those debts is Bankruptcy. However, there are other options as well, such as an IVA/Individual Voluntary Arrangement, or possible a DRO/Debt Relief Order. In fact, depending […]

I Think I Need To Go Bankrupt

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Question I believe I need to go bankrupt. I have done some research on your web site, and also on others. I owe £50,000 plus from a failed business, I have no real assets in my name, I live with my partner, and he is not on any of the loans, and I am not […]

I Need Advice On What To Do With My Credit Card Debt

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Question Jon, I owe a lot of money, over £15,000 and it is all on credit cards. I just kept taking card after card out and using them to their limit spending mostly online. I had deliveries almost everyday for a long time. My flat looks great, and I have more than I need, but […]

Should I Go Bankrupt or Do An IVA?

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We can throw a third option in this mix as well which is a Debt Relief Order or DRO. All three (3) are forms of insolvency, and as such involve third parties, such as the courts, or Insolvency Practitioners. When faced with insolvency, you may ask yourself which is the better option, Bankruptcy, an IVA, […]

Favouring a Creditor If You Are In Debt

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When someone is in debt, it is usually to more than one creditor. While it may not always be the case, usually when in debt it is to multiple creditors, and multiple accounts. Some of these accounts, like a bank overdraft, or a first credit card, seem to have some sentimental value to us. It […]

I Am Closing My Business And Have Debts And Am Unsure What To Do?

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Question I have an interesting debt problem, and I hope you can help. My business is closing down, the trade is just no longer there. I am in retail, just a small privately own shop. I owe about £20,000 in debts, and still owe on my rent for the shop, and also I am late […]

I Want To Go Bankrupt To Get a Fresh Start

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Question Jon, I will give you an overview of my situation, and then also let you know my plans. I would just like a second opinion. I met my ex-wife at uni and were married and now have 2 children. My debts are as follows: 1 Credit card with a balance of about £3,000 A […]