Debt Management Company Luton

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Debt Management Company Luton – Debt Help

Debt Management Company Luton

Welcome to our debt solutions website. We understand that seeking debt help can be overwhelming, which is why we offer tailored solutions to manage your debts effectively. From Debt Management Plans to Bankruptcy, we are here to support you in achieving long-term financial stability. Explore your options and seek professional advice without any 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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Debt Management Company Luton

Bankruptcy is a legal process designed to help individuals in the UK who are unable to repay their debts. It is suitable for those with overwhelming debt that they cannot manage, offering a fresh start by clearing debts that cannot be repaid. The process involves declaring bankruptcy, which typically lasts for a year, during which your assets may be used to pay off creditors. While it can provide relief from unmanageable debt, bankruptcy can have long-term effects on credit scores, making it challenging to borrow in the future. It is essential to seek professional advice to understand if bankruptcy is the right solution for your financial situation, without any judgment.

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Debt Management Company Luton

An Individual Voluntary Arrangement (IVA) is a debt solution for individuals in the UK struggling with unmanageable debts. It allows you to make affordable monthly payments to creditors while writing off a portion of your debts. While an IVA can provide a structured way to repay debts, it may impact your credit rating and borrowing abilities. Seeking professional debt advice is crucial to determine if an IVA is the right solution for your financial circumstances.

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Debt Management Company Luton

A Debt Relief Order (DRO) is a debt solution for individuals in the UK with low income and minimal assets, offering a way to clear debts if you cannot afford to repay them. The application process involves meeting specific eligibility criteria, and once approved, your debts are frozen for a year. While a DRO can provide relief from unmanageable debt, it can have implications on your credit score and borrowing in the future. Seeking professional advice is crucial to determine if a DRO is the right solution for your financial situation.

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Debt Management Company Luton

A Debt Management Plan (DMP) is a debt solution tailored to individuals in the UK struggling to repay their debts. It involves negotiating affordable monthly payments with creditors, allowing you to manage your debt effectively. While a DMP can provide relief by reducing monthly payments, it may take longer to repay debts, and interest and charges may still apply. It is crucial to seek professional debt advice to explore if a DMP is suitable for your circumstances. Understanding how a DMP can impact credit scores and borrowing is essential for informed decision-making.

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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 Management Company Luton – Providing tailored debt solutions in Luton. Explore bankruptcy, DMPs, DROs, IVAs, and more to manage your debts effectively. Contact us for expert advice.