Debt Advice Lincoln

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

Debt Advice Lincoln

Debt Advice Lincoln
Welcome to Debt Advice Lincoln, where we offer tailored debt solutions for individuals in the UK. We understand the challenges of managing debt and are here to support you in exploring options like Debt Management Plans, Individual Voluntary Arrangements, Debt Relief Orders, and Bankruptcy. Our services focus on your financial stability and affordability. Take the first step towards a debt-free future by seeking professional advice without judgment.

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 Lincoln
Bankruptcy is a legal process for individuals in the UK who are unable to repay their debts. It offers a fresh start by eliminating most debts, but it comes with consequences. Bankruptcy is suitable for those with unmanageable debts and no other viable options. The process involves declaring bankruptcy, which freezes assets and involves a trustee managing your finances. Pros include debt relief and a chance for a new beginning, while cons include affecting credit scores, assets, and future borrowing. Seek professional advice for tailored guidance without judgment.

Check if you qualify

Debt Advice Lincoln
An Individual Voluntary Arrangement (IVA) is a formal agreement between you and creditors to repay debts over a set period. IVAs are suitable for individuals in the UK struggling with unmanageable debts. Monthly payments are based on what you can afford, and debt write-off may occur after successful completion. While IVAs offer a structured path to debt relief, they can impact credit ratings and borrowing. Consult a debt advisor to determine if an IVA is the right solution for your circumstances.

Check if you qualify

Debt Advice Lincoln
Debt Relief Orders (DROs) are designed for individuals in the UK with low income, few assets, and debts they can’t repay. A DRO provides debt relief by freezing debts for 12 months and writing them off if circumstances remain unchanged. It’s suitable for those with debts under a certain threshold and limited assets. The application process involves a fee and eligibility criteria. While DROs offer a fresh start, they have limitations. Seek professional advice to determine if a DRO is right for you.

Check if you qualify

Debt Advice Lincoln
A Debt Management Plan (DMP) is a UK debt solution for those struggling to repay debts. It involves consolidating multiple debts into one affordable monthly payment. DMPs are suitable for individuals with unsecured debts looking to regain control of their finances. Payments are arranged based on affordability, and creditors are involved to negotiate reduced interest and charges. While DMPs can improve financial management, they may impact credit scores and borrowing. Seek professional debt advice to explore DMP as an option.

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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 Lincoln: Providing tailored debt solutions in Lincoln, UK. Explore options like DMPs, IVAs, DROs, and Bankruptcy for financial stability and debt relief. Contact us today for professional advice.