When tired of paying the installments every month and day-by-day growing debts the final call is full bad debt settlement.
This is they way which ease you out with all your piled up debts in an instant.
But here is to take notice of few things, legal formalities and proper closing of the process.
As in case of bankruptcy, though you get rid of debt by any how and the claim that you can not pay back the amount leads you to become a black listed debtor, it will then also mark you as a potential bad debt corpse and you will face problems when you go for a loan in future because of your bad credit list.
But the kind of a benefit of being bankrupt is that you, even suffer for the reputation but go straight off for the debt and pay nothing but in the case of a full bad debt settlement you may have an option of appointing a professional who set your records up, collect the bills and supporting financial data, prepare your case, bargain not only for his commission and fee but also fight for you to get the best result out of this full bad debt settlement with your creditor by asking him for whether a reduced amount payment or a lump sum amount repayment by assuring that you are unable to pay the total actual amount.
In this particular scenario it is as possible as you may get a chance of a full bad debt settlement in a way that entitle to pay you the minimum amount a discounted amount on your actual debt and take away the extra pounds of interest.
Nonetheless the payment makes the creditor to be assured of his payment is coming back as a bagful.
But in any case one should take this in mind that agencies settling his debt will charge him around 10% of the deal and which you may not want to pay when the final date is closing in and you have a little time left for the debt repayment.