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Clear Debts Exeter

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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Clear Debts Exeter

Help with debt in Exeter

Clear Debts Exeter

Welcome to Clear Debts Exeter, where we understand that seeking help with debt can feel overwhelming. Our range of services, including Debt Management Plans, Individual Voluntary Arrangements, Debt Relief Orders, and Bankruptcy, are tailored to your individual circumstances for long-term financial stability. Explore 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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Clear Debts Exeter

Bankruptcy can be a tough decision, but it is a legal process that can help you clear your debts if you are unable to pay them. In the UK, bankruptcy is suitable for individuals who have debts they cannot repay. The process involves declaring yourself bankrupt, which can have both pros and cons.

One of the main benefits is that your unsecured debts are usually written off after a year, giving you a fresh start. However, bankruptcy can affect your credit score, limit your access to credit, and may require you to sell assets to repay creditors. It’s essential to understand how bankruptcy works before making this decision.

If you’re considering bankruptcy, seek professional advice to explore all your options. Our team at Clear Debts Exeter is here to provide support and guidance tailored to your specific situation.

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Clear Debts Exeter

An Individual Voluntary Arrangement (IVA) is a formal agreement to repay your creditors a percentage of what you owe over a fixed period. In the UK, an IVA is suitable for individuals with significant debt who can afford regular payments. It can help you avoid bankruptcy and protect your assets.

The benefits of an IVA include lower monthly payments, debt write-off after completion, and protection from further creditor action. However, it can affect your credit rating and borrowing ability. Contact Clear Debts Exeter for professional advice on whether an IVA is right for you.

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Clear Debts Exeter

A Debt Relief Order (DRO) is a way to deal with your debts if you have a low income and few assets. In the UK, a DRO is suitable for individuals with total debts under a certain limit and minimal assets. The application process involves seeking approval from an official receiver.

The advantages of a DRO include having your debts frozen for a year and potentially written off after that period. However, it can impact your credit rating and borrowing options. If you’re unsure about applying for a DRO, our team at Clear Debts Exeter can provide expert advice and support.

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Clear Debts Exeter

A Debt Management Plan (DMP) is a practical way to manage your debts if you’re struggling to make payments. In the UK, a DMP is suitable for individuals who have unmanageable debt but can commit to repaying it gradually. It involves negotiating affordable monthly payments with your creditors.

The benefits of a DMP include reduced stress, consolidated payments, and potentially freezing interest and charges. However, it may take longer to clear your debts, and your credit score could be affected. Our team at Clear Debts Exeter can help you understand 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.

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