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Debt Solutions Exeter

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

Debt Solutions Exeter – Debt Help

Debt Solutions Exeter

Welcome to Debt Solutions Exeter, where we understand the challenges of managing debt. Our tailored solutions, including Debt Management Plans, Individual Voluntary Arrangements, Debt Relief Orders, and Bankruptcy, aim to provide affordable paths to financial stability. We’re here to support you without judgment, guiding you through options best suited to your circumstances. Take the first step towards a debt-free future by exploring our services and seeking professional advice 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 Exeter

Bankruptcy can be a daunting but viable debt solution for individuals in the UK facing overwhelming financial challenges. It involves declaring insolvency, allowing you to eliminate unmanageable debts and make a fresh start. While suitable for those with severe debt issues, bankruptcy comes with consequences. Your assets may be sold to repay creditors, and your credit score will be significantly impacted. It can also affect your ability to borrow in the future. However, bankruptcy offers relief and a path to financial recovery. If you’re considering this option, seek professional advice tailored to UK laws to explore the best course of action.

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Debt Solutions Exeter

Individual Voluntary Arrangements (IVAs) are a structured debt solution for UK individuals seeking to repay creditors without the need for bankruptcy. This legally binding agreement allows you to make affordable monthly payments towards your debts, with the remaining balance typically written off after successful completion. While IVAs offer a path to debt freedom, they can impact your credit rating and borrowing abilities. If you’re considering an IVA, seek expert advice to understand its implications within UK debt management laws.

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Debt Solutions Exeter

Debt Relief Orders (DROs) offer a fresh start to individuals in the UK burdened by unmanageable debts. This insolvency solution freezes debt repayments for a year, providing breathing space and financial relief. While DROs have advantages, such as protecting your assets, there are also limitations to consider. Eligibility criteria apply, and your credit score will be affected. If you’re exploring DRO as a debt solution, seek professional advice to navigate the process effectively within UK laws and policies.

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Debt Solutions Exeter

A Debt Management Plan (DMP) is a practical debt solution for UK residents struggling to meet repayments. It involves consolidating debts into a single affordable monthly payment, negotiated with creditors. While this can provide relief and prevent further debt accumulation, a DMP may affect your credit score and borrowing capabilities. It’s crucial to understand the process and implications fully. If you’re considering a DMP, seek professional advice to ensure it aligns with UK debt management regulations and suits 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.

Debt Solutions Exeter – Providing tailored debt solutions in Exeter. Explore bankruptcy, DMPs, DROs, and IVAs to regain financial stability. Get professional advice today.