There are a number of potential debt solutions available these days, and each of them can represent a chance to restart your life. It should be borne in mind, however, that there are risks involved. Here at Bluesky Finance, we can show you the benefits of each possibility, but we will always tell you about the risks as well.
One of the more impressive solutions is a Debt Relief Order (DRO). It’s not ideal for everyone – it’s not available in Scotland, for example – but for those who meet the criteria it can be something of a godsend. As always, it makes sense to speak to an experienced specialist before signing on any dotted line.
In recent years it has been all too easy for people to acquire credit, and for that credit to eventually lead to serious problems with debt. Far too many people have found themselves caught up in a spiral of debt that takes over their lives, but if you seek help from those in the know there will be opportunities to find a way out.
To qualify for a DRO, your debts mustn’t exceed £20,000 and you can’t be a home-owner. Your name will appear on the Insolvency register and in most cases it will affect your credit rating for a few years afterwards. These and other issues may mean that a DRO isn’t suitable to your particular situation.