Debt advisors or debt solutions consultants offer a variety of services to individuals and companies who are facing debt management problems. Therefore, we can say that this are one of the most daring experts as they handle a lot of money messes on a daily basis and everyone expects to get a solution from them. However, these experts seem to be having solutions to almost all debt problems. If you are stranded in any debt, check the following services you can get from debt solutions consultants.
Services to get from a debt solutions expert
Individual Voluntary Arrangements
If you are still in the category of people wondering What Is An IVA, then you are about to get all answers you seek. Under the program, the debtor and the creditor agree on a mutual basis on the amount of money the debtor should be at the end of every month. This is facilitated by your debt consultant who will help you come up with a proposal and push it to go through. The success of this plan protects the debtor from paying the accrued interests and legal charges.
Debt management plan
Most people are not able to repay their debts because they are overwhelmed by them. The income is low, yet the debts repayment plans are high. Therefore, there can be informal arrangements with friends you owe or even institutions to adjust the monthly payments to a lower figure for a longer period. With this service, you as the debtor will be assisted to reorganize your finances into a better plan that may include slashing your monthly budget and fair distribution of debt repayments.
Debt relief order
This option has conditions as it is a legal process for people who have minimal assets and the income is insufficient to sustain the debts repayments through monthly loan repayments installments. Therefore the advisor must assess your situation to ensure you are eligible before they take you through the process. Your advisor will help fill and process a debt relief order form as legally needed. Upon filling, then they will oversee it is processed for you so as to enjoy the debt relief.
Experts consider this as a last resort and will not advise your case to this direction unless necessary. They will help you explore all other options, and if not possible then there will be no other option than to help you through the bankruptcy process. They will also help you in seeing it through the sale of your assets to settle your debts.