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Debt Solutions 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 Solutions Lincoln – Expert Debt Help Available Now

Debt Solutions Lincoln
Welcome to Debt Solutions Lincoln! We understand that dealing with debt can be overwhelming, which is why we offer tailored solutions to support you on your journey to financial stability. Our range of services, including Debt Management Plans, Individual Voluntary Arrangements, Debt Relief Orders, and Bankruptcy, can help you manage your debts effectively. Take the first step towards a debt-free future by exploring 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.
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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 Solutions Lincoln
Bankruptcy is a legal process that can help you deal with overwhelming debt. In the UK, bankruptcy is suitable for individuals who have no other way to repay their debts. The process involves declaring yourself bankrupt, which will result in the sale of your assets to repay creditors. While bankruptcy provides relief from debt, it can have long-term consequences on your credit score, assets, and future borrowing options. It’s essential to seek professional advice to understand if bankruptcy is the right solution for your situation without judgment.

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Debt Solutions Lincoln
An Individual Voluntary Arrangement (IVA) is a legally binding agreement between you and your creditors to repay your debts. IVAs are suitable for individuals in the UK looking to make affordable monthly payments and have their remaining debts written off. While an IVA can provide relief from debt, it may affect your credit rating and borrowing abilities. Seeking professional advice is essential to determine if an IVA is the right solution for you.

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Debt Solutions Lincoln
A Debt Relief Order (DRO) is a solution for individuals in the UK with low income and few assets. It freezes your debts for 12 months, providing relief from creditor pressure. While a DRO can help you become debt-free, it comes with certain limitations and implications. Eligibility criteria apply, and seeking professional advice is crucial to determine if a DRO is the best path for your circumstances.

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Debt Solutions Lincoln
A Debt Management Plan (DMP) is a flexible way to repay your debts in the UK. It’s suitable for individuals struggling to meet their monthly payments. With a DMP, you make reduced payments to your creditors based on what you can afford. While a DMP can help you manage your debts effectively, it may impact your credit score and borrowing capabilities. Consider seeking professional debt advice 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.

Expert debt help available in Lincoln with Debt Solutions Lincoln. Explore tailored solutions for bankruptcy, DMPs, DROs, and IVAs to manage your debts effectively and achieve financial stability.