Debt Solution Tips

Law company Stephenson Solicitors has launched an advice website aimed at those who face the threat of having their homes repossessed, with the possibility of having the debt eliminated.

The website, www.debtandrepossession.co.uk, will offer consumers advice about how best to deal with their financial difficulties as well as offering information about the various options available to them, Crain's Manchester Business reports.

In addition to providing details and advice, consumers are also offered a free, 30-minute session in which a qualified professional will assess the deals they are tied to and explore possible avenues which allow them to be challenged.

Many credit agreements have areas in which the debt can be disputed according to Andrew Leakey, a partner at the firm.

"A large percentage of (credit agreements) have discrepancies in them which ultimately means, in a lot of cases, the debt can actually be wiped out," he told the website.

In other news, new research from financial comparison site gocompare.com has found the main priority for the majority of people in Britain is to reduce their levels of personal debt and monthly outgoings.