PHOENIX
DEBT MANAGEMENT
To free yourself from debt, call
0871 245 8800
0871 245 8800
Whatever your debt problem, however much you owe, whatever your circumstances are, there is a viable solution that can either write-off all your debts, or save you £000's. Each solution is different, but each will take away all the stress you are suffering, and allow you to rebuild your personal finances and indeed be left with more disposable income each month.
If you are in debt, and struggling to make payments, there are basically 4 options available, and below you will find a quick snapshot illustrating the costs of each option. Simply click on each for further details. Call us on 0871 245 8800, and one of our experts will advise you whether a Debt Relief Order (DRO), Debt Management Plan (DMP), Individual Voluntary Arrangement (IVA), or Bankruptcy is the best option for you.
If you are in debt, and struggling to make payments, there are basically 4 options available, and below you will find a quick snapshot illustrating the costs of each option. Simply click on each for further details. Call us on 0871 245 8800, and one of our experts will advise you whether a Debt Relief Order (DRO), Debt Management Plan (DMP), Individual Voluntary Arrangement (IVA), or Bankruptcy is the best option for you.
Debt Relief Order
DRO's are the best option
for individuals with no assets
and little disposable income
DRO's are run and governed
by the Insolvency Service
For more information on the
cost of obtaining a DRO please
visit the Insolvency Service's
website
DRO's are the best option
for individuals with no assets
and little disposable income
DRO's are run and governed
by the Insolvency Service
For more information on the
cost of obtaining a DRO please
visit the Insolvency Service's
website
Debt Management Plan
The initial cost of a DMP is
the equivalent of 2 monthly
payments (circa £500)
Further fees are charged every
month, normally between
15 - 17½% of your monthly
payment. The total cost of a
DMP is normally circa
£5 - 7,000 plus the total
amount you owe and will pay
back to creditors
The initial cost of a DMP is
the equivalent of 2 monthly
payments (circa £500)
Further fees are charged every
month, normally between
15 - 17½% of your monthly
payment. The total cost of a
DMP is normally circa
£5 - 7,000 plus the total
amount you owe and will pay
back to creditors
IVA
The initial cost of an IVA
is called the Nominee's fee,
and is £1,250 + VAT
Further fees are charged every
month, normally between
15 - 17½% of your monthly
payment. The total cost of an
IVA is normally circa
£5,000 plus the agreed
amount you will be paying
back to creditors
The initial cost of an IVA
is called the Nominee's fee,
and is £1,250 + VAT
Further fees are charged every
month, normally between
15 - 17½% of your monthly
payment. The total cost of an
IVA is normally circa
£5,000 plus the agreed
amount you will be paying
back to creditors
Bankruptcy
Bankruptcy is the cheapest
option, and no monthly
payments are made
Because all debts are written-off
bankruptcy is £000's cheaper
than a DMP or an IVA
Our Bankruptcy
Application service
costs only £395
(plus court fee)
Bankruptcy is the cheapest
option, and no monthly
payments are made
Because all debts are written-off
bankruptcy is £000's cheaper
than a DMP or an IVA
Our Bankruptcy
Application service
costs only £395
(plus court fee)
*Bankruptcy fee of £395 excludes the court fee