Administration Order
For a number of small debts, to a total maximum
amount of £5,000, a personal application to the
court for an Administration Order is one route.
It entails the payment to the court a single,
regular affordable amount which the court distributes
to the creditors for you.
Plus points:
- Whilst the order is in force
- Creditors must not put pressure on you
- Creditors are obliged to accept the payments
made via the court office.
- If you pay your instalments regularly, the
court may agree to write off any remaining debts
after three years, giving you a fresh start.
To qualify for an Administration Order, you must:
- Have at least 2 debts
- One of the debts must be a county / high court
judgement
- Your total debts must not be more than £5000.
Minus points:
- A small charge is made for this service.
Taking professional advice is generally the best
route to resolving debt problems. For us to asses
which type of debt solution is most likely to
help you out, click
here..
|
|
|
|
|
 |
 |
| Our debt expert, Wally Stone has over 20 years experience
in dealing with personal debt. |
| County
Court Judgments |
If you fail to pay a creditor and
don’t reply to their reminders there are several
things that they can do.
If it is a secured debt for example, a hire purchase
agreement they can repossess the goods without going
to court if you have paid less than one third of the
total sum. You will still have to pay the majority of
the balance.[More..] |
| Bailiff
harassment |
Harassment of people in debt by creditors
or their agents is a criminal offence under the Administration
of Justice Act 1970.
It is often difficult to know what to do when you feel
a creditor is not dealing with your account fairly. In
order for you to identify what activities by your creditors
may involve harassment and what can be done about the
problem, this article outlines: [More..]
|
| Credit
Cards |
| For a great many of us the money runs
out before the month does and then the temptation to use
our credit cards to pay the bills kicks in. This is the
beginning of the debt spiral and just what the credit
card companies are counting on:. [More..]
|
|
|
|
| |
| |
|
According to a recent statement from the Citizens Advice
Bureau, it could take 77 years on average for people asking
for help with debt to get back into the black.
Britain's personal debt is increasing by £1 million
every four minutes. |
|
|
|
|
