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Debt Management Company Lincoln

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.

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Debt Management Company Lincoln

Debt Management Company Lincoln
Welcome to Debt Management Company Lincoln, where we offer tailored debt solutions to help you regain financial control. We understand the challenges of managing debt and provide non-judgmental support to guide you towards a brighter financial future. Our range of services, including Debt Management Plans, Individual Voluntary Arrangements, Debt Relief Orders, and Bankruptcy, are designed to suit your individual needs. Explore your options with us and take the first step towards financial stability.

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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Debt Management Company Lincoln
Bankruptcy can provide a fresh start for individuals struggling with unmanageable debts in the UK. It is a legal process where your debts are written off in exchange for certain assets. Bankruptcy is suitable for those with significant debts and no realistic way to repay them. The process involves applying to the court, and if accepted, a trustee will manage your finances. While bankruptcy offers relief from debts, it can affect your credit score, assets, and future borrowing. It’s crucial to seek professional advice to understand if bankruptcy is the right solution for you.

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Debt Management Company Lincoln
An Individual Voluntary Arrangement (IVA) is a formal agreement between you and your creditors to repay your debts at an affordable rate in the UK. It is suitable for individuals with significant debts seeking a structured repayment plan. With an IVA, you make monthly payments over a fixed period, and any remaining debts are written off. While an IVA can offer relief from debts, it may impact your credit rating and financial options. Seek professional advice to determine if an IVA is the right solution for you.

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Debt Management Company Lincoln
Debt Relief Orders (DROs) offer a way to clear your debts if you have a low income and minimal assets in the UK. It is a formal insolvency process suitable for individuals with debts they cannot repay. To apply for a DRO, you must meet specific criteria and pay a fee. Once approved, your debts are frozen for 12 months, providing relief from creditor pressure. While a DRO can offer a fresh start, it may affect your credit rating and limit financial options. Seeking professional advice is crucial to determine if a DRO is the right solution for you.

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Debt Management Company Lincoln
A Debt Management Plan (DMP) is a flexible way to repay your debts at a rate you can afford in the UK. It is suitable for individuals struggling with multiple debts and looking for a structured repayment plan. With a DMP, you make a single monthly payment to a provider who distributes it to your creditors. While a DMP can simplify your repayments and reduce stress, it may take longer to clear your debts and affect your credit rating. Seeking professional advice is recommended to explore if a DMP is the right solution for you.

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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.

Debt Management Company Lincoln can help you find tailored debt solutions in Lincoln. Explore options like Debt Management Plans, IVAs, and DROs for financial stability.