You're visiting this website because you've made the decision to take steps to manage
and deal with debt.
Whether it's because of the past ease of available credit, a growing family,
a reduction of income through illness, redundancy or a reduction in hours;
the effects of unmanageable and growing debt are clearly seen.
DebtSolutions4.me.uk is designed to show you what options you have to start to take control
and restructure your debt.
Taking the first steps to find the right debt solution for you.
In debt? Then let’s start with the good news: there’s a debt solution for you.
This website gives you information on a range of different debt solutions aimed at putting a stop to the worry, the hassle from creditor calls and letters, the sleepless nights and the simple fact that your money won’t stretch to meet your level of debt.
If you’ve been wondering what to do, then rest assured, you’ve done the right thing by visiting our website to check out your debt relief options.
Exactly which debt solution you choose depends on your situation and circumstance. Not every debt solution will be right for you and your pocket - so we recommend you talk to one of our advisors to get the full facts. Then you can take control of your finances, make a decision and start moving forward.
Take a closer look at the debt relief options with the Debt Test.
With a range of different debt solutions available, it can be hard to know where to start. However, we’ve designed this website to make getting the facts as simple as possible. You can start by taking the Debt Test, for example. It takes less than a minute and it will let you know which debt relief option might be right for you. It also shows you how you could write off your debt, freeze interest and stop charges.
If you prefer, you can click the video and take the Interactive Debt Test, with friendly support for every question to help you discover the debt solution that suits you.
Of course, this is just the start. Having taken the test, you will need the full facts to make sure the debt solution is indeed the most appropriate for your circumstances - and that’s where our professional advisors come in.
Talking through the debt solutions available - confidentially.
It can be difficult to call someone you don’t know to speak about your debt, but don’t worry, our advisors are here to help and every week they speak to many people, just like you, who are finding it hard, even impossible, to manage their level of debt - and want to know more about debt relief.
So, when you pick up the phone you can be sure to speak to someone who will listen, understand and, having asked some questions, will talk you through the debt solutions available to you in a friendly, straightforward way.
We know how tough times are at the moment, with many people struggling to manage their debts because of a change in circumstances, redundancy, illness, a reduction in hours - or just the effects of the recession. After all, it’s not called the credit crunch for nothing. So why not contact our advisors now and discover a debt solution that right for you? This service is completely confidential and you could find yourself with the debt relief you want sooner than you thought possible.
A range of different Debt Solutions - bringing Debt Relief in different ways.
The debt solutions we cover on the debtsolutions4.me.uk website include a Debt Management Plan, Individual Voluntary Arrangement (IVA), Trust Deeds and Bankruptcy.
- Debt Management Plan: this is exactly what it says in that it’s a plan to help manage your debt. If you owe £1,500 or more to at least two creditors, it can help provide some short term relief, giving you a breathing space from growing payments to enable you to sort out your finances.
- Individual Voluntary Arrangement (IVA): this enables you to consolidate your debt and write off 75% of what you owe, paying affordable monthly payments for a period of five years based on a formal agreement between you and your creditors. An IVA might be suitable if you have at least 3 creditors and owe £12,500 or more. Find out more about an IVA here.
- Trust Deed: this is similar to an IVA which is available in England and Wales, only the Trust Deed is for Scottish residents. To apply for a Trust Deed you will need two or more creditors and a minimum debt of £6,000 or more. Like an IVA, a Trust Deed enables enables you to consolidate your debt, write off two thirds of what you owe and become debt-free at the end of a three year period. Find out more about a Trust Deed here.
- Bankruptcy: this is a debt solution for the most serious kind of debt, usually when the level of debt is totally unmanageable and other debt solutions have been looked into and ruled out. It is a legal process which results in the legal responsibility for your debt is taken away from you by the court. (In Scotland, there is a separate legal system and the equivalent process is called sequestration.) There can be long-term consequences to bankruptcy, so, as with all the debt solutions available, bankruptcy should only be entered into having first sought professional advice. Find out more about bankruptcy here.
- Debt Relief Order: this is a form of Government Debt Relief and was brought into effect in April 2009. a Debt Relief Order or DRO is an alternative debt solution if you do not fit the criteria for an IVA, Debt Management Plan or Bankruptcy. To be eligible for a Debt Relief Order you must fit a strict criteria and meet certain conditions. You can call one of our friendly advisors today and they will tell you if you are eligible for a Debt Relief Order, or simply take the 1-min Debt Test. To apply for a Debt Relief Order you must have less than £50 a month disposable income, have assets worth less than £1000, be unemployed or on benefits and have debts less than £15,000.
- Payday Loans: We can also help provide payday loans through our trusted partner Sameday Money. While we wouldn't recommend payday loans as a permanent solution to your problem they can be a short term fix for your cash problems and may help you when in need.
How do you apply for a Debt Relief Order?
Only an Authorised Advisor who is licensed can apply for you for a Debt Relief Order who has been given permission to fill in all the necessary forms. Once filled in correctly the Debt Relief Order will be granted to you by the Insolvency Services and administered by your Official Receiver.
Who cannot apply for a Debt Relief Order?
There are things which may prevent you from getting a debt relief order:
- If you are currently Bankrupt
- If you have or are applying for an IVA
- If you creditors have already applied to make you Bankrupt
- If you already have Bankruptcy restrictions
- If you have had a Debt Relief Order in the past 6 years
- If you have any Debt Relief Order restrictions
For more information, contact us now to discuss your level of debt - and find a
Debt Solution that’s right for you.
Debt Solutions – How We Can Help You to Deal with Your Current Debts
There are many debt solutions available today, but how do you know
which one is best suited to your own circumstances? Choosing the best debt solution
for you is not a decision you should make on your own. We are here to help and advise
you on what may work best as a solution based on what you tell us.
Unlike many other debt solutions companies
we won’t try to force you into making a decision which suits our own pocket but
is not right for you. To give you an idea of the different debt solutions
available and how they could affect you, please see our quick guide below. It’s
important to speak to one of our advisors to get the full facts before making any
decisions on a particular debt solution.
Whether it's an
IVA,
where you only pay back what you can afford over 60 months, then the balance is
written off legally or a less formal
Debt Management,
which is an informal arrangement with your creditors and can give you the breathing
space you need to get back in control. For very serious debt issues we can also
offer help and advice regarding
Bankruptcy.
We'll talk you through the positives and negatives of each solution available to
you, then take you through the acceptance criteria of each financial solution.