Debt Company Coventry

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Debt Help Solutions in Coventry

Debt Company Coventry

Welcome to Debt Company Coventry, where we understand the challenges of managing debt. We offer tailored solutions like Debt Management Plans, Individual Voluntary Arrangements, Debt Relief Orders, and Bankruptcy to help you achieve financial stability. Our focus is on affordability and long-term support, so you can explore your options 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 Company Coventry

Bankruptcy can be a viable debt solution for individuals in the UK who are struggling with overwhelming debt. It involves declaring yourself unable to pay your debts, leading to a legal process to clear them. This option is suitable for those with unmanageable debt levels and no feasible repayment plan. The process includes submitting a bankruptcy petition to the court, which will appoint a trustee to handle your assets and debts. While bankruptcy provides relief from debt, it can have long-lasting effects on your credit score, assets, and future borrowing. It’s essential to seek professional advice to understand if bankruptcy is the right solution for your situation, without any judgment.

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Debt Company Coventry

An Individual Voluntary Arrangement (IVA) is a formal agreement between you and your creditors to repay your debts in the UK. It is suitable for individuals facing unmanageable debt levels and looking for a structured repayment plan. An IVA can write off a portion of your debt after successful completion, but it may impact your credit rating and access to credit. Seeking professional debt advice is crucial to determine if an IVA aligns with your financial goals.

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Debt Company Coventry

Debt Relief Orders (DROs) are designed for individuals in the UK with low income, minimal assets, and debts they cannot repay. A DRO freezes your debts for 12 months, providing relief from creditor pressure. This debt solution is suitable for those with debts below a specific threshold and no assets exceeding a certain value. While a DRO offers a fresh start, it may affect your credit rating and financial options. Seeking professional advice is key to determining if a DRO is the best path for your debt relief journey.

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Debt Company Coventry

A Debt Management Plan (DMP) offers a structured approach to repaying your debts in the UK. It is suitable for individuals struggling to meet their contractual payments but can afford to make reduced payments over an extended period. A DMP involves negotiating with creditors to agree on lower monthly payments based on your affordability. While a DMP can provide relief from financial stress, it may impact your credit score and borrowing capabilities. It’s crucial to seek professional debt advice 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 Company Coventry offers tailored debt solutions in Coventry, UK, including Debt Management Plans, IVAs, DROs, and bankruptcy. Find affordable debt help with Debt Company Coventry.