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We compare a range of debt solutions to find the perfect fit for you.
Welcome to mymoneyoffice. We are dedicated to providing you with a 5 star Trustpilot rated service, ensuring that you can trust us to put your financial wellbeing first.
Welcome to mymoneyoffice. We are dedicated to providing you with a 5 star Trustpilot rated service, ensuring that you can trust us to put your financial wellbeing first.
Previous monthly payment: £620pm
£1120 in Debt
Previous monthly payment: £730pm
£10650 in Debt
Previous monthly payment: £650pm
This year, we have had the opportunity to
speak with a total of
3000 people
who are currently struggling with debt
Our services provide assistance in relation to
more than
260 creditors
and lenders throughout the UK
We can reduce up to
81%
of unaffordable debt
Recognised by many, read our reviews on
Trustpilot
If you have unsecured debts over £6000, an IVA is a formal debt solution that people can use if they are struggling with unsecured debts and want to avoid being declared bankrupt by the people they owe money to (known as creditors).
An Insolvency Practitioner (IP) will be appointed to your case, they will draft up a repayment proposal which outlines your financial situation.
During the period of an IVA you will make bitesize repayments over the course of around 60 months and at the end of the term any payments that are still owed are written off.
Similar to an IVA, a Trust Deed is a debt solution for Scottish residents that will have you make affordable monthly repayments over a four year period to write off some of your outstanding debt.
A Trust Deed is set up by an Insolvency Practitioner (IP), it will dilute your monthly payments so that you can pay the back in a more bitesize manner over the course of 4 years. After this period, any remaining unsecured debt can be written off. A Trust Deed is similar to an IVA but they are not identical.
A Debt Management Plan (DMP) is an informal agreement between you and the people you owe money to (creditors).
A Debt Management Plan will state that you will pay back the money over an agreed period of time. Your monthly payback rate will depend on how much you can afford.
What makes a Debt Management Plan different to a lot of the other debt solutions is the fact they are not legally binding. This means that although your creditors might firstly agree to your terms; they can go against the agreement at any point.
Bankruptcy can be a path to clearing debts, it is a legal way to declare your inability to pay your creditors. If you have debts you cannot repay, Bankruptcy could be a viable solution for you.
Within bankruptcy you will stop paying your creditors and creditors can no longer chase you for outstanding payments. For people going into bankruptcy it can provide a fresh start for debt that could not be repaid. Bankruptcy can be done voluntarily or can be actioned by the creditors you owe money to.