Debt Free Yorkshire

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

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Advice is free but fees and disadvantages may apply if you enter a debt help solution.
May not be suitable for all.

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Get Help with Debt from Debt Free Yorkshire

Welcome to Debt Free Yorkshire, where we understand the challenges of managing debt. Our tailored solutions, including Debt Management Plans, Individual Voluntary Arrangements, Debt Relief Orders, and Bankruptcy, aim to provide you with affordable and sustainable paths to financial stability. We are here to support you without judgment, so you can explore options and seek professional advice with confidence.

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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At Debt Free Yorkshire, we understand the challenges of dealing with overwhelming debt. Bankruptcy can be a viable solution for individuals in the UK facing unmanageable financial burdens. It involves declaring yourself unable to repay your debts, allowing for a fresh start. Bankruptcy is suitable for those with significant debts and no realistic means of repayment. The process typically lasts for a year, during which your assets may be used to repay creditors. While bankruptcy can provide relief from debt, it can also impact your credit score and future borrowing opportunities. We encourage you to seek professional advice to explore the best debt solution tailored to your circumstances.

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Individual Voluntary Arrangements (IVAs) offer a structured approach to managing debt for individuals in the UK. At Debt Free Yorkshire, we provide guidance on setting up an IVA to consolidate and potentially write off debts. Suitable for those with a regular income and unsecured debts, an IVA can alleviate the pressure of repayments while protecting your assets. It is essential to understand the implications of an IVA on your credit score and financial future. We encourage you to seek expert advice to determine if an IVA is the right choice for your circumstances.

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Debt Relief Orders (DROs) provide a debt solution tailored to individuals in the UK experiencing financial hardship. Designed for those with low income, minimal assets, and debts below a certain threshold, a DRO freezes debts for 12 months. During this period, creditors cannot pursue you for payment, offering a fresh start. While a DRO can alleviate the burden of debt, it may affect your credit rating and restrict financial activities. Our team at Debt Free Yorkshire is here to support you in exploring DRO as a viable option and seeking professional advice for your specific circumstances.

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Debt Management Plans (DMPs) offer a structured approach to managing debt for individuals in the UK. At Debt Free Yorkshire, we provide guidance on setting up a DMP to streamline your repayments. Suitable for those struggling with multiple debts, a DMP consolidates payments into a single monthly amount based on affordability. While this can simplify your finances, it may take longer to clear debts, and interest and charges could still apply. Understanding the implications of a DMP on your credit score and borrowing capacity is crucial. We recommend seeking expert advice to navigate the complexities of debt management 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.

Debt Free Yorkshire in Location provides tailored debt solutions, including Debt Management Plans, IVAs, DROs, and bankruptcy. Explore our services for expert advice on managing debt effectively.