Debt Management Plans Portsmouth

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

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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 Plans Portsmouth is a crucial tool for individuals in the UK struggling with overwhelming debts. Bankruptcy, as a debt solution, provides a legal process to help manage debts when unable to repay them. It is suitable for individuals facing severe financial hardship with no alternative solutions. The bankruptcy process involves declaring insolvency, which leads to assets being sold to repay creditors. While it can offer a fresh start, it also has drawbacks such as affecting credit scores, restricting borrowing, and potentially losing assets. Seeking professional advice is essential as bankruptcy comes with long-term consequences.

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Debt Management Plans Portsmouth offers a structured approach for UK individuals to manage their debts effectively. A Debt Management Plan (DMP) is suitable for those struggling to meet repayments but can afford reduced payments. It involves negotiating with creditors to agree on affordable monthly payments. While a DMP can provide relief by consolidating debts into a single manageable payment, it may extend the repayment period and affect credit ratings. Seeking professional debt advice is crucial to explore if a DMP is the right solution for individual circumstances.

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Debt Management Plans Portsmouth presents Debt Relief Orders (DROs) as a viable debt solution for individuals in the UK. A DRO is suitable for those with low income and minimal assets, offering a route to write off debts within a year. The application process involves meeting specific eligibility criteria and freezing debts during the 12-month moratorium period. While a DRO provides a fresh start, it comes with restrictions on borrowing and affects credit ratings. Seeking professional advice ensures understanding the implications of a DRO on individual circumstances.

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Effective Debt Solutions in Portsmouth

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Debt Management Plans Portsmouth welcomes you with a warm embrace, acknowledging the challenges of seeking debt help. Our tailored solutions, including DMPs, IVAs, DROs, and bankruptcy, prioritize your financial stability without judgment. Explore your options today and take the first step towards a debt-free future.

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Debt Management Plans Portsmouth educates UK individuals on Individual Voluntary Arrangements (IVAs) as a potential debt solution. IVAs are suitable for those with unmanageable debts, offering a structured repayment plan with the possibility of debt write-off. While IVAs provide relief, they impact credit ratings and require professional advice to navigate their complexities.

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Discover comprehensive debt solutions in Portsmouth with Debt Management Plans Portsmouth. Explore DMPs, IVAs, DROs, and bankruptcy options tailored to your needs. Start your journey to financial freedom today.

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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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