Business debts can easily become out of hand when cash flow is tight. PJG Recovery are experts in dealing with business debts and can help resolve matters to get you back on track. Debt can cause stress and panic. At PJG Recovery we are here to help you understand your options to help get out of debt and put you and your family to financial freedom.
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Our licensed insolvency practitioners have extensive experience in providing advice and financial solutions for both businesses and individuals. We are proud to confirm that our personal insolvency team is recognised by creditors as being one of the strongest providers operating in the UK, and our regional corporate specialists enjoy an excellent success rate for delivering returns to financial stakeholders.
There are many reasons that people can get into personal debt. In today's climate these reasons may not be any fault of your own however it can seem a struggle to get yourself out of debt. At PJG Recovery our team of professional insolvency advisors are compassionate about your situation and are here to offer you sound advice on which way to plan to get out of debt.
Do you have unsecured debts with a number of creditors you are unable to pay? If so, then there is an alternative to Bankruptcy, which allows you to renegotiate the terms of your repayments to creditors into an affordable and manageable sum.
An IVA (Individual Voluntary Arrangement) can be used to help manage the debt, and lower your repayments to creditors, meaning you are able to pay off your debts while having enough money to live off each month.The IVA Proposal sets out the amount to be repaid and the duration of the arrangement which is usually 60 months, but can be much shorter if the offer is based on a full and final settlement.
An IVA (Individual Voluntary Arrangement) can be used to help manage the debt, and lower your repayments to creditors, meaning you are able to pay off your debts while having enough money to live off each month.The IVA Proposal sets out the amount to be repaid and the duration of the arrangement which is usually 60 months, but can be much shorter if the offer is based on a full and final settlement.
A debt management plan (DMP) represents a viable alternative to an Individual Voluntary Arrangement for those people struggling to cope with rising levels of debt. A DMP allows individuals to restructure debt repayments into a informal payment plan. Before a DMP can begin, a detailed monthly budget is created.
If you live in Scotland and are struggling to repay your debts you may want to consider entering into a Trust Deed with your creditors. A Trust Deed is an alternative to bankruptcy and is a formal agreement between you and your creditors, where you agree to pay an affordable payment each month for a fixed period - usually 4 years - in exchange for your creditors agreeing to write off the balance outstanding at the end of the 4 years.
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