Debt Advisory Line provide tailored expert Debt Advice on a wide
range of debt solutions including Debt Management, IVA's,
Bankruptcy, Trust Deeds and Debt Relief Orders.
Debt Collection Agency
A creditor can employ (or even sell) debts to a debt collection
agency. That agency will then chase the outstanding debt(s). Debt
Collection Agencies are NOT bailiffs and have virtually no power to
collect debts - they should therefore be treated the same way as
other unsecured creditors.
Debt Management Plan
An informal agreement between you and your creditors that allows
you to pay off your debts over an extended period of time. The Debt
Management Plan can be for any amount of money and can last for any
reasonable length of time.
A person who owes money to others.
This is issued by a creditor when a financial agreement (made
between them and yourself) fails because the arrangement has not
been kept as promised. The notice is the formal way in which a
lender informs you that they intend to take further steps to
recover the outstanding amount you owe them.