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Clear Debts 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

Clear Debts Portsmouth – Debt Help

Clear Debts Portsmouth

Welcome to Clear Debts Portsmouth, where we offer tailored debt solutions to help you regain financial stability. We understand that seeking debt help can be overwhelming, but our range of services, including Debt Management Plans, IVAs, DROs, and Bankruptcy, are here to support you. Explore your options with us and take the first step towards a debt-free future 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 Debts Portsmouth

Bankruptcy can be a daunting prospect, but it’s essential to understand what it involves. In the UK, bankruptcy is a legal process that allows individuals to deal with unmanageable debts. It’s suitable for those with significant debts they can’t repay, offering a fresh start. The process involves declaring bankruptcy, which can have implications for your assets and credit score. While it has its drawbacks, bankruptcy can provide relief and a path to financial recovery. It’s crucial to seek professional advice to navigate this process effectively and without judgment.

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Clear Debts Portsmouth

Individual Voluntary Arrangements (IVAs) are a viable debt solution for individuals in the UK facing financial challenges. Tailored to your circumstances, an IVA can help write off a portion of your debts, offering a manageable repayment plan. While it has implications for your credit rating and assets, an IVA can pave the way for a fresh start. Seeking professional advice is key to determining if an IVA is the right choice for your financial well-being without judgment.

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Clear Debts Portsmouth

Debt Relief Orders (DROs) offer a way out for individuals in the UK burdened by unmanageable debt. Designed for those with low income and minimal assets, a DRO freezes debts for a year, providing relief and a fresh start. While it has limitations, a DRO can be a lifeline for those struggling financially. Seeking expert advice is crucial to determine if a DRO is the right choice for your situation without fear of judgment.

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Clear Debts Portsmouth

Debt Management Plans (DMPs) are a practical solution for those struggling with debt in the UK. Tailored to individual circumstances, a DMP helps manage repayments to creditors effectively. By consolidating debts into one affordable monthly payment, a DMP can ease financial strain. While there are benefits like reduced stress and simplified payments, drawbacks include a longer repayment period. It’s important to explore this option with professional advice to ensure it aligns with your financial goals without judgment.

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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 Debts Portsmouth in Portsmouth offers tailored debt solutions including DMPs, IVAs, DROs, and Bankruptcy to help individuals in the UK regain financial stability. Contact us for non-judgmental advice.