Debt Management Plans Kent

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Affordable Debt Help in Kent

Debt Management Plans Kent

Welcome to our debt solutions website, where we offer tailored help with your financial struggles. We understand that seeking debt assistance can be overwhelming, but rest assured, we are here to support you. Our range of services, including Debt Management Plans, Individual Voluntary Arrangements, Debt Relief Orders, and Bankruptcy, are designed to fit your unique circumstances and focus on 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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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 Plans Kent

Bankruptcy can be a daunting but effective debt solution for individuals in the UK struggling with overwhelming debt. It is a legal process that involves declaring yourself unable to repay your debts. Bankruptcy is suitable for those with no realistic way of repaying what they owe and can offer a fresh start financially. However, it comes with consequences such as the potential loss of assets, restrictions on borrowing, and a negative impact on credit scores. It is crucial to seek professional advice to understand if bankruptcy is the right step for your situation without judgment.

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Debt Management Plans Kent

Individual Voluntary Arrangements (IVAs) provide a formal debt solution for individuals in the UK looking to manage their debts effectively. An IVA involves making affordable monthly payments towards your debts, with the possibility of having a portion of your debts written off. IVAs are suitable for those with a regular income who can commit to the repayment plan. While IVAs can offer debt relief, they may impact credit ratings and borrowing capabilities. Seek professional debt advice to determine if an IVA is the right choice for your financial situation.

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Debt Management Plans Kent

Debt Relief Orders (DROs) offer a route to debt relief for individuals in the UK with low income and minimal assets. It is a formal insolvency process that freezes debt repayments for a year, after which qualifying debts may be written off. DROs are suitable for those with debts under a certain threshold who cannot afford to repay what they owe. While DROs can provide a fresh start financially, they come with restrictions on borrowing and can affect credit ratings. Seeking professional advice is key to understanding if a DRO is the right solution for your situation.

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Debt Management Plans Kent

Debt Management Plans (DMPs) are a flexible and informal way to manage debt for individuals in the UK. It involves consolidating multiple debts into a single affordable monthly payment. DMPs are suitable for those with non-priority debts who can afford to make regular payments but need assistance in managing their finances. While DMPs can provide relief from creditor pressure and simplify repayments, they may extend the time taken to clear debts and affect credit scores. Seeking professional debt advice is essential to explore if a DMP is the right solution for your circumstances.

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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 Plans Kent: Find tailored debt solutions in Kent, including DMPs, IVAs, and DROs. Get professional advice to manage debt effectively.