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Clear Debt Lincoln

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

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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

Clear Debt Lincoln – Debt Help Available

Clear Debt Lincoln
Welcome to Clear Debt Lincoln, where we understand the challenges of dealing with debt. Our tailored debt solutions include Debt Management Plans, Individual Voluntary Arrangements, Debt Relief Orders, and Bankruptcy. We’re here to support you in finding an affordable and sustainable way to manage your debts. Explore your options and seek 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.
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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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Clear Debt Lincoln
Bankruptcy can provide a fresh start for those struggling with overwhelming debt in the UK. It’s a legal process designed to help individuals manage their debts and move towards financial stability. While bankruptcy is suitable for those with significant debts and no realistic way to repay them, it’s essential to understand the implications. Assets may be used to repay creditors, and your credit score will be affected, making borrowing more challenging in the future. However, bankruptcy offers relief from unmanageable debt and a chance to rebuild your financial health. Seek professional advice to explore if bankruptcy is the right solution for you.

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Clear Debt Lincoln
Individual Voluntary Arrangements (IVAs) offer a structured way for individuals in the UK to manage their debts. An IVA allows you to make affordable monthly payments to creditors, with the potential for debts to be written off after successful completion. While an IVA can provide relief from debt stress, it may affect your credit score and borrowing capabilities. Seek professional advice to determine if an IVA is the right solution for you.

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Clear Debt Lincoln
Debt Relief Orders (DROs) are a viable debt solution for individuals in the UK facing financial hardship. A DRO freezes your debts for 12 months, giving you relief from creditor pressure and allowing you to focus on financial recovery. While a DRO can provide a fresh start, it may impact your credit rating and limit access to credit during the moratorium period. Eligibility criteria apply, and seeking professional advice is crucial to determine if a DRO is suitable for your circumstances.

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Clear Debt Lincoln
Debt Management Plans (DMPs) offer a structured approach to managing debts for individuals in the UK. Tailored to your circumstances, a DMP involves making affordable monthly payments to creditors to gradually repay what you owe. While a DMP can provide relief from the burden of debt, it may take longer to clear your debts, and interest and charges could still apply. Your credit score may be impacted, affecting future borrowing. Consider seeking professional advice to see 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

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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.

Clear Debt Lincoln in Lincoln offers tailored debt solutions including Bankruptcy, DMPs, DROs, and IVAs to help individuals in the UK achieve financial stability. Contact us for expert debt advice.