Creditors are people or organisations that you are in debt to. Creditors can be credit card companies, your bank if you have an overdraft, loan and finance companies and so on. If you are in serious debt to your creditors then you may need to consider an IVA (Individual Voluntary Arrangement) or another debt management solution. Talk to us at Bankruptcy Options to find out more.
Usually creditors are registered with the FSA (Financial Services Authority) regulated by the Consumer Credit Act 1974. This Act gives you certain rights on dealing with creditors.
You will have various debts ranging from bank overdrafts to secured loans and hire purchase agreements. All the different agreements will have varying monthly instalments and various fluctuating interest rates. It can be a mine field trying to keep in control and up to date with all the repayments and you maybe wise to consider a debt management plan or an IVA. Either way we at debt-2-go can reduce your monthly re-payments and the total amount you will have to repay.
By acting sooner rather than later you can soon put yourself in control of your situation and stop creditors pursuing you through the courts or through the help of debt collectors.
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