Debt is something that will affect everyone in one way or another during their lifetime. We have so many commitments, such as council tax, utility bills, credit cards and loan repayments. There are many people through the UK, from all walks of life, who have see their debts piling up.
It is always best to seek professional advice about your financial situation before your debt begins to spiral out of control. There are a number of debt solutions available in the UK.
Some of the debt solutions that may be available to you are:
- Council Tax Repayment Plans
- Individual Voluntary Arrangements (IVA)
- Debt Relief Orders (DRO)
Each debt solution is different, yet they are all designed to help you clear your debts while guaranteeing that you keep enough of your income to keep the lights on and put food on the table.
Some debt solutions even allow your unsecured debts to be wiped clean after a few years.
Debt management programs (DMP) are available throughout the UK. A debt management plan helps you to manage your debts and pay them off at a more affordable rate by making reduced monthly payments.
Each debt solution has its own set of advantages, disadvantages and eligibility requirements, so it is important that you understand which is most suited to your circumstances.
Don’t be afraid to get free independent advice
Just because you know that these debt solutions are available, it doesn’t mean that you should wait until the last minute to take control of your debts.
It really is the sooner the better.
We offer free debt advice to help you choose the most effective solution for you.
By requesting a callback at any time - day or night - you can take the first step towards managing your debt rather than having it controlling you.
So if you ever start to worry about how you are going to make ends meet due to mounting debts, please get in touch.
We can help.
We understand that it can feel compromising to expose details of your finances to a stranger, but you can be confident in the fact we are not here to judge but to offer the practical advice and personalised debt solutions you need.
Your Credit Score
If you are in debt and need help to manage it, there is a good chance your credit score has already been negatively affected.
Some of the debt options above will further affect your credit score.
Make sure to ask for more information about how your credit score may be affected by a particular debt solution.
We always aim to give you the full picture: the benefits of each solution, as well as a thorough understanding of other implications it may have.
If you would like to speak to a specialist debt advisor, complete the callback form in the sidebar to get free advice within 2 hours.