Debt Restructuring

by : Chris Pracy

Debt you’re unable to manage can lead to worry andstress. It can become unmanageable when you don’t have enough money to pay yourmonthly bills, so you borrow more money to pay these monthly bills. This isknown as ‘Robbing Peter to pay Paul’, and is a downward spiral that quicklyleads to serious debt problems.

Recognising you have a growing, or looming, debtproblem early is the key to taking control of your debts and making themmanageable again; however unmanageable they may seem. Not only does this removemuch of the worry and stress linked to money problems, but the earlier you takeaction, the more options you may have to restructure your debts.

Accuma: thedebt restructuring experts

If you’re looking to restructure your debts, look fora debt advice company that offers a full range of debt solutions, because notall do. Full-service debt advice companies can offer more options, depending onthe amount your owe and your personal circumstances, including loanconsolidation/remortgaging, Debt Management Plans, Individual VoluntaryArrangement (IVA) and bankruptcy advice. Accuma has access to this full rangeof solutions, which can be tailored to meet your individual needs.

We can offer long term debt solutions that can involvewriting some of the debt off or short/medium term solutions, that can provide enoughbreathing space for your circumstances to change e.g. a new (possibly higherpaid) job, renewed availability of finance options. However, each debtrestructuring solution needs careful consideration, and you should seek expertadvice to talk you through the advantages and disadvantages of each option.

Debt restructuring is a real solution if you have debtproblems and it’s worth finding out more. At Accuma, our debt advice is free,confidential and without obligation. Our counsellors will discuss yoursituation with you and recommend the best option for your individualcircumstances.

Whilst we makeevery effort to ensure this article is as up to date as possible, Accuma cannotbe held responsible for changes in legislation or developments in case lawsince this article was produced and published. Article produced on 24th June2008.