Debt Management Company Colchester

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Debt Management Company Colchester Support for Debt Issues

Welcome to Debt Management Company Colchester, where we understand the challenges of dealing with debt. Our tailored solutions, including Debt Management Plans, Individual Voluntary Arrangements, Debt Relief Orders, and Bankruptcy, are designed to support your financial stability. Explore your options with us 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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Debt Management Company Colchester offers information on bankruptcy as a debt solution in the UK. Bankruptcy is a legal process where your debts are written off, providing a fresh start. It’s suitable for those with unmanageable debts, but it can have implications on credit scores, assets, and future borrowing. Seeking professional advice is crucial to navigate this process effectively and without judgment.

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Debt Management Company Colchester educates on Individual Voluntary Arrangements (IVAs) as a debt solution in the UK. IVAs help you repay a portion of your debts over time, with the remaining balance written off. While it can impact credit ratings, seeking professional advice is crucial to determine if an IVA is right for you.

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Debt Management Company Colchester explains Debt Relief Orders (DROs) as a debt solution in the UK. DROs are suitable for individuals with low income and little assets. While it freezes debts and provides relief, there are limitations to be aware of. Seeking professional advice is key to understanding if a DRO is the right choice for your situation.

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Debt Management Company Colchester presents Debt Management Plans (DMPs) as a tailored debt solution in the UK. DMPs help you manage debts by consolidating them into a single monthly payment. While it can provide relief, there are drawbacks to consider. It’s essential to explore your options and seek professional advice to find 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.

Debt Management Company Colchester offers tailored debt solutions in the UK. Explore bankruptcy, DMPs, DROs, IVAs, and more to find the right path to financial stability.