Options For Dealing With Debt
Initially, attempts will be made to maximise clients' income through claiming any unclaimed benefits, tax credits etc. and steps taken to negotiate with priority creditors. For clients with multiple debt problems there are a number of options available for dealing with their difficulties. Which option is most appropriate will depend on the circumstances of the client.
- Voluntary Repayment Programme
- Bankruptcy
- Trust Deeds
- Debt Arrangement Scheme
- Moratorium / Token Payments
The above is not an exhaustive list of options. It is often also possible to dispute debts and challenge the recoverability of debts.