Help with Debt Problems
We offer free debt advice (UK) to make sure you get the help that you need. We will help you to review your financial situation and make sure that you make the right decision when it comes to managing your debt.
What are my Debt Options?
We can advise you on a number of different debt options, including:
- Individual Voluntary Arrangements (IVA’s) – An IVA is a formal debt solution if you have over £5000 of unsecured debt. All of your debts will be placed into one pot and you make one affordable monthly payment, usually for 5 years.
- Debt Management Plans (DMP’s) – With a debt management plan, a debt management company will deal with your debts and look to freeze any interest and charges on your credit accounts. This is often looked at as a temporary way to help with debt as no debt is “written off”.
- Trust Deed Scotland – If you are living in Scotland and you have over £5000 of unsecured debt, a Scottish Trust Deed may be the best option for you. (See our page Trust Deeds Scotland).
- Bankruptcy – Often seen as a last resort, bankruptcy will completely wipe the slate clean, although it will come with some undesirable consequences.
- Debt Relief Order – If you owe under £20,000 total, your income is low and you do not have many assets, a DRO may be right for you.
Get Help with Debt
Need help with debt problems (UK)?
To review your financial position in full before you receive debt help UK, we will need you to have some basic information on your finances ready. This will mean the advice you receive will be completely accurate to your personal situation.
We would ask you to prepare the initial information:
- Credit card balances
- Loan balances
- Overdraft balances
- Any other types of debts (such as payday loans, catalogues etc)
- 3 months payslips
- 3 months bank statements
- Proof of ID (driving license or passport)
Do not worry if you can not get any of this information, your advisor will be able to run a credit search to get the information that they need.
- How much do you spend on your gas and electricity?
- Rent or mortgage details
- Childcare details
- Travel expenses
- Food costs
- Housekeeping costs
- Phone costs
- Entertainment costs
It is important to be open and honest when assessing your current situation as our advisors will look to build in allowances for certain expenses. Some times you may not have these in your current budget, leaving you with a better financial life than you have previously had.
Debt Advice UK
Our advisors will allow you to send any documents electronically. So you can either email them or send them securely by WhatsApp. All details will only be held on file for the purposes of your application and will be deleted after any advice has been given by a financial advisor.