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Clear Debts Chester

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

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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

Clear Debts Chester – Debt Help Solutions

Clear Debts Chester
Welcome to Clear Debts Chester, where we offer tailored debt solutions to individuals in the UK. We understand the challenges of managing debt and provide support without judgment. Explore our range of services, including Debt Management Plans, Individual Voluntary Arrangements, Debt Relief Orders, and Bankruptcy, to find the right solution for your financial stability.

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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Clear Debts Chester
Bankruptcy is a legal process for individuals in the UK who are unable to repay their debts. It offers a fresh start by eliminating most debts, but it comes with consequences. It’s suitable for those with overwhelming debts and no other viable options. The process involves declaring bankruptcy, which freezes assets and income to repay creditors. Pros include debt write-off, while cons involve credit score impact and restrictions on borrowing. Seeking professional advice is crucial to navigate this solution effectively.

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Clear Debts Chester
An Individual Voluntary Arrangement (IVA) is a formal agreement between individuals and creditors to repay debts over a fixed period. It’s suitable for those with substantial debts seeking a structured repayment plan. IVAs involve monthly payments based on affordability and can lead to debt write-off. However, credit ratings may be affected. Seeking professional advice is crucial to assess if an IVA aligns with your financial goals.

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Clear Debts Chester
Debt Relief Orders (DROs) are an option in the UK for those with low income and minimal assets struggling with debts. It freezes debts for a year, after which they may be written off. Eligibility criteria include low debt and income levels. The application process involves a fee and submission to an official receiver. Advantages include debt relief, but drawbacks involve restrictions on financial activities. Seeking professional advice is essential to determine if a DRO is the best debt solution.

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Clear Debts Chester
A Debt Management Plan (DMP) in the UK is a structured repayment plan for those struggling with debt. It’s suitable for individuals with multiple debts looking to consolidate payments. Through a DMP, monthly payments are arranged based on affordability and distributed to creditors. Benefits include reduced stress and interest rates, but drawbacks involve a potential negative impact on credit scores. Seeking expert advice can help assess if a DMP is the right solution for managing debt effectively.

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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.

Clear Debts Chester in Chester offers tailored debt solutions for individuals in the UK. Explore options like Debt Management Plans, IVAs, DROs, and Bankruptcy. Locations: Chester, UK.