Sometimes, debt becomes absolutely unmanageable and you need to start looking at options beyond simple repayment and payment plans. If you have reached this stage, it is time to speak to a financial mentor.
Get free advice from one of our Financial Mentors by calling 0800 345 123.
One of the possible options is called a No Asset Procedure, or NAP for short.
This is a possible means of relieving debt that you are just not going to be able to repay. It is not a quick means to an end and it severely damages your credit history.
We have linked to info below and it’s important that you seek the help of an outside agency (such as the one in the link above) for budget advising and also to educate yourself on what a NAP will mean for you.
Read more about the NAP from these three websites:
Make sure you read the information in these links to gain an in-depth understanding of how an NAP could benefit or hinder you.