Laws that prevent debt under UK

Bankruptcy
When an individual cannot afford to pay their debt due to any reason then bankruptcy is one of the options for individual.

Debt Management
Debt Management is a process in which an expert is hire to sort out an individual payment of pay credit cards, loans and store cards to affordable amount by talking to creditors.

IVA – Individual Voluntary Arrangement
It’s simply a tool that will help debtors to clear their debts.

Administration Order
It’s a country court order in which all your debt will be count as single payment per month into the court and court staff will further divide the given amount by you amongst your creditors.

County Court Judgements
A common court procedure to clear your debt within one month otherwise the CCJ will be registered within the register.

Bailiff Law
In bailiff some one is assign to collect a debt on behalf of a creditor it may be county court bailiffs, certificated bailiffs and private bailiffs who can be used to collect different types of debts