Debt Help Services – Financial Solutions for any Eventuality

Our debt help services are all about finding the right solution for you based on your circumstances.

We understand how hard it can be to call someone you don’t know to speak about your debt problems but many of our customers prefer this because it’s completely confidential.

Our debt help services are here for hundreds of people every week and no matter how embarrassed or ashamed you may feel about how much debt you’re in, you can rest assured we won’t judge you. People get into debt for all manner of reasons and our aim is to provide financial solutions for any eventuality.

Debt Levels & Solutions

One of the many questions we’re commonly asked about our debt help services is “are there different solutions for different levels of debt?” and we’ve gone into a bit more detail on this below;

Debt management

Minimum debt required: £1,500 owed to at least 2 creditors Debt management is suited to lower levels of debt because it’s meant as a short term solution only. It can be beneficial if you’re struggling to make the interest payments on multiple credit cards and store cards but paying into a debt management plan won’t reduce your overall debt unlike some other debt solutions.

IVAs

Minimum debt required: £12,500 owed to at least 3 creditors

IVAs were introduced as a less sever alternative to bankruptcy and require a fairly substantial minimum level of debt.

Once your IVA goes ahead you will be tied in to paying back a pre-agreed monthly amount for a period of 5 years, however on the plus side, you may not have to pay back the full amount of unsecured debt that you have.

Trust deeds

Minimum debt required: £6,000 owed to at least 2 creditors

Trust deeds are only available to Scottish residents and have a lower debt threshold due to the fact a typical trust deed is for a period of 3 years rather than 5 with an IVA.

Two of the main benefits of trust deeds are that your creditors are not allowed to hassle you once your trust deed has been agreed and become protected. Also, you won’t be liable for any ongoing interest and charges on your overall debt.

Bankruptcy

Minimum debt required: £10,000

In order to declare yourself bankrupt you will be expected to have a significant amount of debt – at least £10,000. However, your creditors can petition for your bankruptcy if you owe them just £750 or more.

Bankruptcy can be of benefit to people whose debts have become completely overwhelming and they have exhausted all other possible options.

When you call us about our range of debt help services we will look at a number of factors including the amount of debt you have, before advising you on what your options are.

Pick up the phone now and call us in complete confidence because taking action will lift a huge weight off your shoulders.