Debt Advice Northampton

Speak to an expert to discover all the debt solutions available to you.

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 Advice Northampton: Debt Help Available Here

Debt Advice Northampton
Welcome to Debt Advice Northampton! We understand that seeking help with debt can feel overwhelming, but we’re here to support you. Our services include tailored solutions like Debt Management Plans, Individual Voluntary Arrangements, Debt Relief Orders, and Bankruptcy. Explore your options with us for affordable and sustainable debt solutions.

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.

Check if you qualify

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.

Check if you qualify

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 Advice Northampton
Bankruptcy can be a viable debt solution for individuals in the UK facing overwhelming financial challenges. It offers a fresh start by clearing unmanageable debts, but it’s essential to understand the process fully. Bankruptcy is suitable for those with significant debts and no realistic way to repay them. The process involves declaring bankruptcy, which can be done voluntarily or through a creditor’s petition. Pros include debt write-off and protection from further creditor action, but cons include potential asset loss and impact on credit scores. Bankruptcy can affect credit scores for up to six years, making future borrowing challenging. If considering bankruptcy, seek professional advice tailored to your situation without judgment.

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Debt Advice Northampton
An Individual Voluntary Arrangement (IVA) is a formal agreement between you and creditors to repay debts over a fixed period. It’s suitable for individuals in the UK with unmanageable debts seeking to avoid bankruptcy. IVAs offer benefits like debt write-off and reduced monthly payments, but they can impact credit ratings. Seek professional advice to determine if an IVA is the right path to financial stability.

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Debt Advice Northampton
A Debt Relief Order (DRO) is a viable debt solution for individuals in the UK with low income and minimal assets. It provides a fresh start by freezing debts for a year, after which they may be written off. Eligibility criteria include debts under a certain threshold and minimal assets. Advantages of a DRO include no direct contact with creditors and affordable fees. However, drawbacks may include restrictions on financial activities and impact on credit ratings. Seek professional advice to determine if a DRO aligns with your financial circumstances.

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Debt Advice Northampton
A Debt Management Plan (DMP) is a flexible debt solution for individuals in the UK struggling to meet repayments. Suitable for those with multiple debts but some disposable income, a DMP involves making affordable monthly payments to creditors. Benefits include reduced stress, one manageable payment, and potential freezing of interest and charges. Drawbacks may include extended repayment periods and adverse effects on credit ratings. It’s crucial to seek professional debt advice to explore if a DMP is the right solution for 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 Advice Northampton: Your trusted source for tailored debt solutions in Northampton. Explore options like DMPs, IVAs, and bankruptcy for financial relief.