If you are struggling with huge debt problems you are probably feeling very scared and uncertain about what to do. You may even be worrying about the possibility of going bankrupt.

However there are a number of things that you can do to try and improve your situation that may enable you to clear your debts and avoid bankruptcy.

Bankruptcy should be avoided if at all possible. After all, alongside all the disadvantages associated with it, bankruptcy stays on your credit history for about ten years. This can make it impossible to obtain any credit until after this time has elapsed.

So what are the alternatives to bankruptcy? There are a number of different options that you could consider. These options can all be effective in helping you avoid bankruptcy. The best solution for you will depend on your personal circumstance and financial situation. Ideally you should speak to an independent expert to find out which course of action would be most appropriate for you.

One way you could try avoiding bankruptcy is by speaking to your creditors. Bankruptcy proceedings are expensive and time consuming and so they might be prepared to strike a re-payment deal with you. Normally this option only works if you have income or assets that can be used to raise some money to pay towards your debt.

Another way you could avoid bankruptcy might be via debt consolidation. This enables you to consolidate all of your debts into one monthly payment.

One of the most popular alternatives to bankruptcy however is an IVA. IVAs were introduced by the government in 1986 to help people pay off their debts and avoid bankruptcy.

With an IVA you make monthly re-payments based on what you can affords. This amount is negotiated with your creditors who agree to write off a proportion of your debt in return. It is not unusual for as much as 85% of your debt to be written off completely.

With an IVA, your creditors are not allowed to contact you, which means that you don