Write Off Debt Leeds

Speak to an expert to discover all the debt solutions available to you.

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Advice is free but fees and disadvantages may apply if you enter a debt help solution.
May not be suitable for all.

Help also available at MoneyHelper

Variation: Leeds Debt Relief Assistance

Dealing with debt can be overwhelming, but you are not alone. At Write Off Debt Leeds, we offer tailored solutions like Debt Management Plans, Individual Voluntary Arrangements, Debt Relief Orders, and Bankruptcy. Let’s explore together and find the right path towards financial freedom.

Make one affordable monthly payment to us and we’ll manage the payments to your creditors for you.

We deal with your lenders on your behalf, taking care of all the hassle and paperwork.

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How do I get started?

Answer a few quick questions

Use our easy online questionnaire to start the debt help process.

Speak to a debt specialist

Our friendly, experienced team will explain all the available options.

Choose your plan

Select the best solution for your circumstances and lifestyle.

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What debt are you most concerned about?

Credit Cards

Over Drafts

Unsecured Loans

Store Cards

Personal Loans

Utility Bills

Business Debt

Catalogues

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Advantages of a DMP

We will manage the contact with your creditors and provide them everything they need. So, as long as you keep in touch with us, your creditors shouldn’t need to contact you.

You will just make one monthly payment to us, instead of paying all of your creditors individually.

In the vast majority (99.48%) of cases, creditors will stop applying interest and charges, so the money you pay will come straight off the balance.

You will have an online account which you can use to view your account and make changes.

If your circumstances change, we will renegotiate the payments with your creditors.

Disadvantages of a DMP

Your creditors don’t have to agree to the repayment, or to freeze interest and charges.

A debt management plan doesn’t protect you from further recovery or legal action from your creditors.

Your credit rating will be impacted because you’ll be paying reduced amounts to each creditor. If you’ve been missing payments to your debts it is likely that your credit report will already have been impacted.

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Bankruptcy can be a daunting option for those facing overwhelming debt in the UK. It is a legal process that allows individuals to be free from unmanageable debt, but it is essential to understand the implications. Bankruptcy is suitable for those with no other viable debt solutions, offering a fresh start but affecting credit scores, assets, and future borrowing. The process involves declaring bankruptcy, potentially selling assets, and making affordable payments towards debt. Seek professional advice to explore if bankruptcy is the right solution for your circumstances.

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Individual Voluntary Arrangements (IVAs) are a debt solution for UK individuals struggling with unmanageable debt. This formal agreement allows affordable monthly payments, with the potential for debt write-off upon completion. While an IVA impacts credit ratings and borrowing, it offers a structured approach to debt repayment. Seek professional advice to determine if an IVA is the best fit for your financial circumstances.

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Debt Relief Orders (DROs) provide a debt solution for individuals in the UK struggling with low income and minimal assets. It is a formal insolvency procedure that freezes debt repayments for 12 months, after which qualifying debts may be written off. While a DRO offers relief from unmanageable debt, it comes with restrictions on obtaining credit and certain job roles. Check eligibility criteria and seek advice to determine if a DRO is the right step towards financial stability.

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Debt Management Plans (DMPs) offer a structured way to manage debt for individuals in the UK. Suitable for those with multiple debts but unable to meet full payments, a DMP involves negotiating affordable monthly payments with creditors. While it can help regain control of finances, it may impact credit scores and borrowing options. With a DMP, interest and charges may be frozen, allowing a clear path towards debt repayment. Explore professional debt advice to understand if a DMP aligns with your financial situation.

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How does it work?

Let’s say you owe…

Debt Type	Amount
Bank Loan	£5,366.00
Gas Bills	£129.00
Pay Day Loan	£1,989.00
Overdraft	£1,234.68
Debt Collection Agency	£380.16
Short Term Loan	£243.88
Debt Collection Agency	£471.61
Council Debt	£1,009.24
Credit Card	£8,433.00

Total amount owed

£19,256.57

After an IVA

65%
debt written off

IVA Payments
£110
per month

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Example case completed in 2023. Repayment calculated using income and expenditure data. Monthly payments and write off percentages are based on individual circumstances.

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