Please note that writing off a debt on the grounds that it is unenforceable, as described above, is not a debt management plan or an IVA, where the debt is written off over 5 years. To write off credit card debt is a response to the law which says that lenders offering loans without proper documentation cannot enforce recovery of the debt resulting from them.
However, we are also affiliated to excellent independent IVA and debt management specialists, if that should be more suitable to your own circumstances. To apply for an IVA go to the Best Debt Consolidation IVA site.
There are special qualifying circumstances for both IVAs and PTDs; people are not automatically eligible for these and everyone has to go through an application process to see that they are suitable for each particular plan. More details are available at these respective websites.
We do not recommend so-called payday loans because of their extremely high rates of interest, although they have their uses in the short term if the circumstances are suitable. Instead we recommend reducing your existing debt with an IVA or debt management plan, or with a lower interest rate debt consolidation loan. Only take out another loan if you really can afford the repayments. That way reducing the overall monthly payments makes sense. Don’t do it just for short term gains; that is a recipe for disaster. Remember Mr Micawber!