Help With Debt Lancashire

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May not be suitable for all.

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Debt Relief Solutions in Lancashire

Help With Debt Lancashire
Welcome to Help With Debt Lancashire, where we provide tailored debt solutions to individuals in the UK. We understand that seeking debt help can feel overwhelming, but rest assured, our range of services, including Debt Management Plans, Individual Voluntary Arrangements, Debt Relief Orders, and Bankruptcy, are designed to support your 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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Help With Debt Lancashire
Bankruptcy can be a viable debt solution for individuals in the UK facing overwhelming financial challenges. It offers a fresh start by eliminating unmanageable debts, but it’s essential to understand the process. Bankruptcy is suitable for those with no other viable options and debts exceeding assets. Through a court-appointed trustee, assets may be sold to repay creditors, and debts are typically discharged after one year. While it can provide relief, bankruptcy has consequences, including a negative impact on credit scores, restrictions on future borrowing, and potential asset loss. Seeking professional advice is crucial to navigate this process effectively and without judgment.

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Help With Debt Lancashire
Individual Voluntary Arrangements (IVAs) can be a viable debt solution for individuals in the UK struggling with unmanageable debts. An IVA allows you to make affordable monthly payments towards your debts, with the possibility of having a portion of the debt written off after successful completion. While it provides a structured way to repay debts, an IVA can impact credit ratings and borrowing. Seeking professional debt advice is essential to determine if an IVA aligns with your financial goals.

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Help With Debt Lancashire
Debt Relief Orders (DROs) can offer a fresh start for individuals in the UK burdened by unmanageable debts and limited assets. A DRO provides debt relief by freezing debts for 12 months, after which they may be written off if the individual’s situation remains unchanged. It is suitable for those with low income, minimal assets, and debts below a certain threshold. While a DRO can provide financial relief, it may have implications on credit ratings and future borrowing. Seeking professional advice is crucial to determine if a DRO is the right debt solution for your circumstances.

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Help With Debt Lancashire
A Debt Management Plan (DMP) can be a practical debt solution for individuals in the UK struggling to manage multiple debts. It involves consolidating debts into a single affordable monthly payment, tailored to fit individual financial circumstances. Creditors are approached to agree on reduced payments, and interest and charges may be frozen. While a DMP can provide relief, it may impact credit scores and borrowing capabilities. Seeking professional debt advice is key to exploring the suitability of a DMP as a debt solution and understanding its benefits and limitations.

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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.

Help With Debt Lancashire provides tailored debt solutions in Lancashire, UK. Explore Debt Management Plans, Individual Voluntary Arrangements, Debt Relief Orders, and Bankruptcy options today.