Free Debt Help Lancashire

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

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

Free Debt Help Lancashire

Welcome to Free Debt Help Lancashire, where we understand that seeking debt assistance can feel overwhelming. We offer tailored solutions, including Debt Management Plans, Individual Voluntary Arrangements, Debt Relief Orders, and Bankruptcy. Our aim is to provide affordable and long-term financial stability. Explore your options 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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Free Debt Help Lancashire

Bankruptcy can be a daunting prospect, but it’s essential to understand it as a potential debt solution. In the UK, bankruptcy is a legal process where you declare yourself unable to pay your debts. It’s suitable for individuals who have no other way to repay what they owe and need a fresh start. The process involves filling out an application, which incurs a fee, and attending an interview. While bankruptcy can provide relief from overwhelming debts, it also comes with consequences. Your assets may be sold to repay creditors, and your credit score will be significantly affected. It can be challenging to borrow money in the future, but bankruptcy offers a chance to rebuild your financial stability. If you’re considering bankruptcy, seek professional advice tailored to your situation without fear of judgment.

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Free Debt Help Lancashire

Individual Voluntary Arrangements (IVAs) are a formal agreement between you and your creditors to repay debts over a fixed period. This solution is suitable for individuals in the UK with unmanageable debts. While an IVA can provide a structured repayment plan and debt write-off, it also has implications. Your credit rating will be affected, and assets may be at risk. If you’re considering an IVA, seek professional advice to determine if it’s the right solution for you.

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Free Debt Help Lancashire

Debt Relief Orders (DROs) are designed for individuals in the UK who have limited assets and low income, making it challenging to repay debts. A DRO allows qualifying individuals to have their debts frozen for 12 months, after which they may be written off. This solution is suitable for those with debts less than £30,000 and minimal assets. While a DRO offers relief from unmanageable debts, there are implications to consider. Your credit rating will be impacted, and you may find it challenging to obtain credit in the future. If you’re eligible for a DRO, seek professional advice to explore this debt solution further.

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Free Debt Help Lancashire

Debt Management Plans (DMPs) are a popular debt solution in the UK for individuals struggling with repayments. A DMP involves negotiating affordable monthly payments with creditors, based on what you can realistically afford. This plan is suitable for those with non-priority debts and multiple creditors. While a DMP can provide relief from constant payment demands, there are drawbacks to consider. Interest and charges may not be frozen, and it can take longer to repay debts. Your credit score will be affected, making it harder to borrow in the future. If you’re exploring debt solutions, a DMP could be a viable option. Seek professional advice to understand if it’s the right choice for your financial situation.

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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.

Discover tailored debt solutions at Free Debt Help Lancashire. Explore Debt Management Plans, IVAs, DROs, and Bankruptcy options. Get professional advice in Lancashire.