The personal services offered at Alexander Lawson Jacobs cover many elements of personal finance and we will endeavour to explain all the options that might be available to you once we have a true picture of your problem.
If you owe people money (your ‘creditors’) you can make arrangements to pay your debts. Your options depend on the amount of money and assets you have.
You can pay your debts in instalments by setting up:
a Debt Management Plan which is an agreement with your creditors managed by a financial company
an Administration Order when you’ve had a county court judgment (CCJ) or a High Court judgment (HCJ) against you for debts under £5,000
an Individual Voluntary Arrangement which is managed by an insolvency practitioner
You can apply for a Debt Relief Order or Bankruptcy Order if you can’t pay your debts because you don’t have enough money or assets you can sell.
In Scotland you can arrange a Debt Payment Programme from the Debt Arrangement Scheme.
You may also have the option of reaching an informal agreement with your creditors.
Get in touch to find out more.