Free Debt Advice Kent
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Free Debt Advice Kent
Welcome to our debt solutions website, where we offer tailored options to help you manage your debts effectively. Seeking debt help can feel overwhelming, but our range of services, including Debt Management Plans, Individual Voluntary Arrangements, Debt Relief Orders, and Bankruptcy, are designed to provide you with affordable and long-term financial stability. Explore your options with us and seek professional advice 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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Advantages of a DMP
Disadvantages of a DMP
Free Debt Advice Kent
Bankruptcy is a form of insolvency that can help individuals in the UK deal with overwhelming debt. It is suitable for those who have no other way to repay their debts and are willing to comply with the legal process. The process involves declaring bankruptcy, which involves a court order and the appointment of a trustee to manage your assets. While it provides relief from unmanageable debt, it also comes with consequences such as affecting credit scores, potentially losing assets, and restrictions on future borrowing. It’s essential to seek professional advice to understand all implications before proceeding with bankruptcy.
Free Debt Advice Kent
An Individual Voluntary Arrangement (IVA) is a debt solution suitable for individuals in the UK struggling with unmanageable debt. It involves a legally binding agreement with creditors to repay a portion of your debts over a fixed period, typically five years. While it offers relief from overwhelming debt, an IVA may impact credit ratings and borrowing capabilities. Seeking professional advice is crucial to determine if an IVA is the right solution for your financial circumstances.
Free Debt Advice Kent
Debt Relief Orders (DROs) are a debt solution designed for individuals in the UK with low income, minimal assets, and debts they cannot repay. It provides a fresh start by freezing debts for 12 months, after which they are typically written off. While it offers relief from unmanageable debt, a DRO also comes with restrictions and may affect credit ratings. Eligibility criteria apply, and seeking professional advice is essential to explore all options and understand the implications of a Debt Relief Order.
Free Debt Advice Kent
A Debt Management Plan (DMP) is a debt solution that can help individuals in the UK manage their repayments effectively. It is suitable for those struggling to meet their monthly payments but can afford to pay off their debts over time. A DMP involves negotiating reduced payments with creditors and consolidating multiple debts into one affordable monthly payment. While it can offer relief from financial stress, it may also impact credit scores and borrowing capabilities. Seeking professional advice is crucial to determine if a DMP is the right solution for your financial situation.
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
Example case completed in 2023. Repayment calculated using income and expenditure data. Monthly payments and write off percentages are based on individual circumstances.
Get tailored debt solutions with Free Debt Advice Kent in the UK. Explore options like DMPs, IVAs, and bankruptcy for effective debt management.