Debt Solutions

However large your debt problem seems, solutions are available for you. Niche Mortgage Solutions can advise you on whether an IVA is the best way forward, or whether you should consider a Debt Management Scheme, Remortgage, Consolidation Loan or even Bankruptcy. The best solution for you depends on your debt level and your personal situation.

Debt Management Plan:

A Debt Management Plan can give you more affordable monthly repayments. Instead of paying what your creditors demand each month, you offer them what you can actually afford. None of your debts are written off so you will repay your debts in full but if you want an informal solution with payments that you can manage then this may be a good solution for you.

IVA (Individual Voluntary Arrangement):

The best solution for debts over £15,000, in most cases, is an IVA. If you are eligible for an IVA, you could see a large percentage, up to 70%, of your debts legally written off. You are fully legally protected by this solution and your creditors must deal with us directly at all times.

Bankruptcy:

There is still a perceived stigma of bankruptcy but it can be a good option if you have no assets and no means of repaying your debts in the foreseeable future. Some people cannot go bankrupt because it may affect the career or promotional prospects but it should be considered.

Consolidation Loan

We do not usually recommend borrowing your way out of a debt problem, but in some cases a consolidation loan can be a good option. A consolidation loan could make all your current credit agreements much more affordable by converting all your current loans into just one new loan with a lower interest rate and therefore lower payments.

A Word of Warning

There are companies out there who charge for debt advice. Avoid them!
You shouldn't have to pay for Debt Advice since money is a problem for you.
You should only pay if you are entering a solution and the money should be going towards your creditors too.

Clearing your debts

Our aim is to help you to clear your debts in the quickest way possible. We will educate you on how to clear your debts and how to avoid running up further debts in the future.

DEBT CAN BE STRESSFUL. WITH THE RIGHT HELP AND SOLUTION IT NEEDN’T BE

If you apply to Niche Mortgage Solutions directly by telephone or e-mail and we arrange a mortgage or insurance contract for you we will send you £25 worth of Marks and Spencers vouchers. The vouchers are subject to a mortgage, life insurance, critical illness, income protection, private medical insurance or buildings and contents contract completing through Niche Mortgage Solutions. Niche Mortgage Solutions will send the vouchers by hand or by post within 10 working days from the completion of your mortgage or insurance. No cash equivalent can be paid. Only one claim per customer can be made.