Call Debt Advice.co.uk for free advice and the best possible service
When you’ve got debt problems you need the right debt advice and where better to get it than Debt Advice.co.uk.
We specialise in helping people who for a variety of reasons have found themselves with debt problems, often through no fault of their own.
Once you have recognised that you’ve got debt problems you are well on your way to solving them.
Although being in debt is daunting, there are a number of debt solutions available to you and the sooner you do something to solve your debt problems the better.
Here at Debt Advice.co.uk we offer free advice and if you wish can arrange all of the main debt solutions.
Debt Consolidation Loans from Debt Advice.co.uk
The first debt solution is a debt consolidation loan, either unsecured or secured.
This debt solution is when you take out a new loan to pay off all your existing unsecured debts and whilst it can be unsecured, a secured debt consolidation loan will generally attract a lower interest rate than an unsecured debt consolidation loan.
You should however think carefully before taking out any secured loan, as you could lose your home if you do not meet your loan repayments.
Debt Management Plans from Debt Advice.co.uk
If a debt consolidation loan isn’t right for you, debt management plans are an alternative you might like to consider.
These enable you to consolidate all your unsecured debts into one affordable monthly payment, without taking out further loans or debts.
A debt management plan is suitable for people with unsecured debts up to £15,000.
You simply make one realistic monthly payment to us and we make payments on your behalf to all of your creditors.
When we set up your debt management plan we also negotiate with your creditors to try to reduce or freeze any interest or charges on your debts, although of course this cannot be guaranteed.
Once the debt management plan has been agreed there is also no need to worry about letters or calls from your creditors, as we take care of all of this for you.
IVAs from Debt Advice.co.uk
If you are having serious debt problems, particularly if you have more than £15,000 of unsecured debt, then an IVA (or individual voluntary arrangement) could help you to avoid bankruptcy.
Whereas debt management plans are informal agreements, IVAs are legally binding contracts between you and your creditors.
Providing that you maintain your monthly payments your creditors cannot take any further legal action against you, your assets are protected, interest and charges on your debts are frozen and you will pay only what you can afford each month after reasonable living expenses have been calculated.
If you keep to the repayment schedule set for you, then after your term is complete (typically 60 months), any remaining debt you owe is written off.
Whatever your debt problems call Debt Advice.co.uk today
Whatever financial difficulties you find yourself in call us free today for free, impartial advice on which debt solution is right for you.
Your property will be protected within an IVA but you may be required to release all or part of any equity during the period of the arrangement.
Failure to complete the term of an IVA can result in bankruptcy.
(In Scotland, a PTD is the equivalent to an IVA.)