Debt Advice Nottingham

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

Safe, secure & confidential

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

Affordable Debt Help in Nottingham

Debt Advice Nottingham
Welcome to Debt Advice Nottingham, where we understand the challenges of seeking help with debt. Our tailored solutions include Debt Management Plans, Individual Voluntary Arrangements, Debt Relief Orders, and Bankruptcy. We’re here to support you on your journey to financial stability, without judgment. Explore your options with us today.

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.

Check if you qualify

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.

Check if you qualify

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.

Check if you qualify

Debt Advice Nottingham
Bankruptcy can be a viable debt solution for individuals in the UK facing overwhelming financial challenges. It provides a fresh start by clearing eligible debts, but it’s essential to understand the process. Bankruptcy is suitable for those with unmanageable debts and no alternative solutions. The process involves declaring bankruptcy, appointing a trustee to handle assets, and making payments if affordable. Pros include debt relief and a chance to start anew, while cons involve credit score impact, asset loss, and restrictions. Seek professional advice to navigate the complexities and consider all options before making a decision.

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Debt Advice Nottingham
Individual Voluntary Arrangements (IVAs) offer a structured debt solution for individuals in the UK facing financial difficulties. Tailored for those with significant debts and seeking a manageable repayment plan. IVAs involve freezing interest, negotiating affordable payments, and writing off remaining debts after completion. Consider the impact on credit ratings and assets before proceeding. Seek professional advice to determine if an IVA is the right path towards financial recovery.

Check if you qualify

Debt Advice Nottingham
Debt Relief Orders (DROs) provide a debt solution tailored to individuals in the UK struggling with unmanageable debts. Suitable for those with low income, minimal assets, and debts below a specific threshold. The application process involves a fee and eligibility assessment, freezing debts for 12 months. Advantages include debt write-off after the moratorium period, but limitations on borrowing and assets apply. Seek professional advice to explore if a DRO is the right path towards financial recovery.

Check if you qualify

Debt Advice Nottingham
Debt Management Plans (DMPs) offer a structured approach to repaying debts for UK individuals struggling with finances. Designed for those with multiple debts and seeking a manageable repayment plan. Payments are consolidated into one monthly amount, negotiated with creditors to fit your budget. Benefits include reduced stress, interest freezes, and avoiding legal action. Drawbacks may affect credit scores and prolonged debt repayment. Seek expert advice to determine if a DMP is the right solution for 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

Check if you qualify

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

Debt Advice Nottingham in Nottingham offers tailored debt solutions including Debt Management Plans, Individual Voluntary Arrangements, Debt Relief Orders, and Bankruptcy. Explore affordable debt help options today.