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Debt poses a big problem for many people worldwide. Many slip into debt involuntarily, following an unsuccessful business or disastrous investments.

But whatever the reason may be, debt can be a serious problem and potentially affect all aspects of your life. Not being able to pay creditors and outstanding bills is a frustrating situation for everyone.

Not only can debt affect your finances, but can also harm your health. Depression, foul mood and unhappiness, is not seldom result of big piles of debt.

The best way to tackle debt is debt consolidation and ClearDebt.co.uk can help you. If you’re debts are over £14000, an IVA could get you out of your financial troubles. An IVA is an Individual Voluntary Arrangement, which is an agreement that legally binds you and your creditors.

An IVA can be sorted, given certain circumstances in which you won’t be able to pay off your all your debt.  A licensed insolvency practitioner will help you work out a plan to have a closer look at your financial situation and see what you can actually afford to pay back.

Over a period of 3-5 years, you will usually be paying off whatever you can and afterwards, your remaining debts will be written off.

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