Debt is often described in negative terms. But borrowing money, or ‘taking on debt’, isn’t necessarily a bad thing. Manageable debts, that you can comfortably pay back over an agreed period, are often necessary in order to take that next step in life.
It’s only when debt repayments become unmanageable or unaffordable that debt becomes a problem.
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Our arrangements don’t affect tenancy agreements. While any rent arrears would not be included in your list of creditors, a provision would be made to allow you to repay the arrears to lower the risk of eviction.
However, if you were to enter bankruptcy or sequestration, you may be in breach of contract as many rental agreements contain clauses regarding this.
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During 2016 CreditFix helped over 19,803 people with their debts
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Our Insolvency Practitioners have over 70 years’ combined experience