Break your Debt Slavery Today!
It is hard to say who was the first one to introduce credit, but lending was commonly used even in the 6th century B.C. At first, those debtors who were unable to pay money back were sent to debt slavery. Fortunately, King Solomon changed their fates and debtors were allowed to pay back credits only with their property, not freedom.
However, the law only sounds good at the first sight, as people became slaves of their own debts. Of course, it is better than being a slave of the creditor. Still, does working at two jobs just to pay back your past sins look like the life each of us dreams about? It is very hard to look at photos and recall happy days without any credit obligations, when you could afford to buy a new guitar or spend your vacation exploring the coast of Portugal. But now most of us spend their lives on paying back the debts and trembling from any thought of losing their work places. Timetable resembles a scenario of a horror movie: work-home-work, with you smiling only two days a year – at Birthday and Christmas parties. Other days are full of calculating your income and allowed expenses.
Luckily, as in any situation, there is an exit. You could easily escape from “Debt Predator Paws” with the help of heroes called debt management experts; they are supposed to provide professional pieces of advice and find the best solution for every case using all available tools: Debt Management Program, Individual Voluntary Agreement, bankruptcy and other.
A Debt Management Program (DMP) involves credit counseling services with the aim to develop an individual debt management plan, suitable for your financial situation. However, debt management plans are not legally binding. Still, if you are sure that you can pay your debts in 5 year time – the program is the easiest and fastest way to get some help with your debts.
An Individual Voluntary Agreement (IVA) is a formal agreement between a debtor and a creditor (the person you owe money to) to reduce your monthly payments to an affordable amount of disposable income; it is usually set up by an Insolvency Practitioner. Moreover, debt interests are frozen for several years (normally 5) and the creditor is not allowed to demand additional payments. According to UK National Statistics, IVA program is currently helping more than 34000 people, and since 2006 about 6000 people have successfully completed the program.
A bankruptcy is another formal way of dealing with debts you cannot pay. The program is good for providing opportunity to relieve all credits and start you life from the blank page. As statistics shows, in 2009 the program was used by 67465 people.
There are even more debt management opportunities, for instance, debt consolidation loans – reconstruction of your debt into an affordable amount you are willing to pay; or Scottish Trust Deeds – a formal proposal to creditors to write down your debts. The most suitable program for your individual case could be found by debt management experts. Consequently, only one visit or call to a debt advisor can make your life much easier. And remember, life is given only once, so take the first step to get back to a normal life without fear, stress, and panic.
Break your debt slavery today!