What kind of debt can be written off under UK government legislation. I keep seeing an advert on facebook?

Question

What kind of debt can be written off under UK government legislation. I keep seeing an advert on facebook?

Answer 1

Most debts can, but i wouldn't do it, its the next stage up from declaring yourself bankrupt. You will have such a bad credit rating in the future that you'll never get a mortage or any credit again.

Only do it if your realy really really desperate.

Answer 2

No, you can't get your debts written off.  Is this an ad for a company which will try to set you up with an IVA (Individual Voluntary Arrangement)?  This is usually an arrangement where they look at your debts, make contact with your creditors and try to negotiate a manageable repayment scheme.  In some cases, they may be able to persuade the creditors to freeze any interest on the debts.

You don't need to go through a specialist agency, you can contact your creditors yourself to try and renegotiate.  

http://en.wikipedia.org/wiki/Individual_...