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Michael Peoples | Can I help you?

My name is Michael Peoples and I am the manager of the self employed team at McCambridge, Duffy & Co, Insolvency Practitioners. The firm has been involved in insolvency work for many years in addition to being Chartered Accountants and in 1998 began to specialise in personal insolvency. I joined in February 1999 having previously worked in Estate Agency, Financial Services and the Inland Revenue. I am 43 years old, married and have a young daughter.

I joined the www.iva.co.uk Forum in November 2008 almost by accident. We had a client who was posting on the forum and I registered to see if the client would contact me and I would try and resolve the issue. This was a success and I stayed on as I find the forum helpful, interesting and informative. Since this time I have been a regular poster and would hope that my input has helped those of whatever firm who have sought advice.

If you are considering an IVA and wish to discuss your options freely and without obligation please complete the enquiry form, send me an email or telephone me on 02871 377321 or on my direct line of 02871 376801. I will try and return all calls personally where possible but regardless someone will be in touch within 24 hours.

Remember the advice is completely free and you do not even have to give your real name.

Debt Solutions we offer and can advise on..........

Individual Voluntary Arrangements (IVAs)	^Top

An IVA is an insolvency procedure to help people who are struggling to pay their debts. In an IVA you can show your creditors that you are not able to pay the contractual payments agreed when you took out the loan or credit card. In an IVA you pay what you can afford for an agreed period (usually 60 month) and any remaining debt is legally written off by your creditors.

Debt Management Plans	^Top

A Debt Management Plan is an informal debt solution. Where you feel you cannot afford to make your agreed repayments to your creditors you may want to use a debt management plan to pay what you can afford instead.

The plan is informal so neither you or your creditors are legally bound by it. This can mean less protection over a formal insolvency procedure but generally creditors are willing to work with a client who is genuinely struggling as long as they are making an effort to pay something.

Debt Consolidation	^Top

A Debt Consolidation can take many forms. Basically it involved putting all your loans and credit card borrowings into 1 more affordable financial product. Sometimes debts can become unaffordable when interest rates, minimum payments and penalties are attached but by taking out a consolidation you can end all such additional charges which add to your problem.

Bankruptcy	^Top

Bankruptcy is perhaps viewed as being the most serious insolvency procedure. This is mostly down to a perceived stigma associated with it.
I think Bankruptcy is a really good option for some people. It can give you a fresh start that you need to get on top of your situation.
I recommend Bankruptcy regularly as it can be right for the right person. Once people understand what is involved and what it means they begin to realise it's not all that bad.

Trust Deeds	^Top

A Trust Deed is a Scottish insolvency procedure. It is similar to an IVA except it lasts 3 years instead of 5 years.