Debt Line Direct - A Debt Consolidation Company That Can Help You Manage Those Debts Spiralling Out Of Control

Debt Line Direct (www.debtlinedirect.com), are a recognised debt management company that have helped thousands take control of their debts and helped them to become totally debt-free.

The way we work is very different from other debt management companies because we are not driven by money whereby some debt companies simply only care about the sales coming in.  We're unique because our friendly and trained staff have been in the same situation as you.  That's right.  WE'VE been there.  So you can expect only the utmost respect and compassion and inpartial advice.

We help you get rid of your debts with various strategies.  Our main one is to create a debt management plan which is to basically consolidate all your monthly repayments into one affordable payment each month.  Once all the paperwork is signed we then also contact your creditors on your behalf making sure they will now leave you alone.  If they do contact you after we get in touch with them, then simply hang up because by law they should not be ringing you once we step in.

We also offer other options such as an IVA, Trust Deeds and Bankruptcy.  We take away your stress and strains by offering you a way out.

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What's an IVA?

An IVA or an Individual Voluntary Arrangement, is set up by a licensed professional known as an Insolvency Practictioner - an IVA is a formal agreement made between an individual and his creditors, allowing the individual to make reduced payments toward the total amount of debt so a percentage of the total is paid off; after five years or so, the individuals debt will be classified as settled.

• An IVA is a legally binding agreement that exists between an individual and his creditors.
• It is set up to help those people who encounter financial difficulties in settling their debt, avoiding bankruptcy.
• The monthly payments that are specified in an IVA are based on the individuals disposable income.
• All outstanding debt is legally disregarded once the final payment is made.
• An IVA can cancel up to 75% of a persons outstanding debt, depending on his present financial circumstances.
• An IVA provides debtors a real solution to financial problems, ensuring that the debtor makes a single payment every month based on their income; once all agreed payments are made, the creditors are then prohibited by law from adding other charges or further interest to the debtor's account.

What's a Trust Deed?

What is a Deed of Trust?

If you have never read a deed of trust, you might have questions about it. After all, it is the security for your loan. It is the document that is recorded in the public records.

A deed of trust contains three parties:

• The Trustor, which is you, the borrower
• The Trustee, which is an entity that holds "bare or legal" title
• The Beneficiary, which is the lender

The deed of trust is an instrument that identifies the following:

• Original loan amount
• Legal description of the property being used as security for the mortgage
• The parties
• Inception and maturity date of the loan
• Provisions of the mortgage and requirements
• Late fees
• Legal procedures
• Acceleration and alienation clauses
• Riders, if any, regarding such clauses as prepayment penalities or terms of an adjustable rate mortgage

What is a Trustee?

Because mortgages do not contain a trustee, many borrowers are confused between a mortgage and a deed of trust. Deeds of trust contain a trustee, an independent third party that does not represent the borrower nor the lender.

• The trustee is an entity, generally a title company, that holds the "Power of Sale" in the event of default.
• The trustee also reconveys the property once the deed of trust is paid in full.
• In the event of a default, the trustee files a Notice of Default; however, in most instances, the trustee will substitute another trustee to handle the foreclosure under a Substitution of Trustee.
• After the 90-day period in the public records, and a 21-day publication period in the newspaper, the trustee then has the power to sell the property on the courthouse steps without a court procedure.
• During the three months following recordation of the Notice of Default, the borrower can redeem the property by making up the back payments and paying the trustee's fees.
• Once the trustee sells the property at a Trustee's sale, it is fina

What's Bankruptcy?

How to go bankrupt:

Before you take any action to apply for your own bankruptcy, you should seek expert advice about bankruptcy and the other options available to you. The Insolvency Service and the courts cannot advise you on specific insolvency problems; for example, whether you should go bankrupt.

Declaring yourself bankrupt:

First, you will need to complete the following forms. You can get the forms, free of charge, from a local court that deals with bankruptcy. You can also complete the forms on-line at The Insolvency Service's website.

• The petition (Insolvency Rules 1986 form 6.27) - this form is your request to the Court for you to be made bankrupt and includes the reasons for your request.
• The statement of affairs (Insolvency Rules 1986 form 6.28) - this form shows all your assets (anything that belongs to you that may be used to pay your debts) and all your debts, including the names and addresses of the creditors and the amount you owe each one. The form contains a declaration of insolvency that you will need to swear on oath before an officer of the court or a solicitor. You may have to pay an extra fee for this (see section 4).

You can complete both of the above forms online via The Insolvency Service's Online Forms Service. This is an interactive internet service which can be accessed at a time and location that is convenient to you via The Insolvency Service's website,

The Online Forms Service is easy to use and provides assistance to allow you to complete the forms on your own. There is also a dedicated enquiry line telephone number and e-mail address if you require additional guidance in completing the forms. The Online Forms Service allows you to save and retrieve partially completed forms, with the ability to edit previously saved information. 

A secure database then captures the information you provide in the forms. This information is automatically deleted if you do not present your bankruptcy petition to the Court within six months, but if a bankruptcy order is made the information is made available to The Insolvency Service. This may reduce the need for the Official Receiver to ask you for additional information. 

Once you have completed the forms you will need to print them and take them to court.

If you do not use the Online Forms Service you should complete the petition and statement of affairs forms in capital letters, using black ink. Court staff can only advise you on the court procedure and give you the forms you need. They cannot give you legal advice.

If you are dealing with a county court, the court will need the completed forms and 2 copies of each before it can accept your petition for bankruptcy. If you are taking your petition to the High Court, you won't need any extra copies. When you have completed both forms, and printed the forms if you have used the Online Forms Service, signed and dated the bottom of every page, and have the fees ready, you can go to the court and ask for your petition to be dealt with.

NB: If you are, or were, running a business in partnership (even if there is no formal partnership agreement) and all the partners want to be made bankrupt, you will need different petition and statement of affairs forms. These are available from your local court.