When you have debts and creditors are knocking on your door, it’s very tempting to try and make debt management arrangements directly with your creditors.

In cases where the debt is quite small, and it’s just one creditor, entering into an informal debt arrangement, if the creditor is agreeable, could be worked out for you. It does save money on dealing with the creditor via an insolvency practitioner. However, whilst it can remain simple, there is a risk for both parties as the agreement is not legally binding.

Our recent blog post explains why it's better to choose an Insolvency Practitioner instead of making direct arrangements with creditors’.

https://www.leading.uk.com/why-choose-an-insolvency-practitioner-instead-of-making-direct-arrangements-with-creditors



#insolvency #debt #businessdebt #personaldebt