Debt Help Plymouth

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

Debt Help Support for Managing Debt

Debt Help Plymouth
Welcome to Debt Help Plymouth, where we understand the challenges of managing debt. Our range of tailored solutions, including Debt Management Plans, Individual Voluntary Arrangements, Debt Relief Orders, and Bankruptcy, are designed to support your financial well-being. Explore your options with us and take the first step towards a debt-free future.

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 Help Plymouth
Bankruptcy can provide a fresh start for individuals struggling with overwhelming debts in the UK. It is a legal process that allows you to declare insolvency, meaning you cannot repay your debts as they fall due. Bankruptcy is suitable for those with unmanageable debts and no realistic way of repaying them. The process involves submitting a bankruptcy petition to the court, which can lead to the selling of your assets to repay creditors. While bankruptcy offers relief from debt, it can have long-term consequences 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 financial situation without judgment.

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Debt Help Plymouth
An Individual Voluntary Arrangement (IVA) is a formal agreement between you and your creditors to repay your debts over a fixed period. IVAs are suitable for individuals in the UK struggling with unmanageable debts but seeking to avoid bankruptcy. The process involves proposing an affordable payment plan to creditors, with any remaining debts typically written off after successful completion. While an IVA can provide a structured path to debt repayment, it may affect your credit score and ability to borrow in the future. Seeking professional advice on Individual Voluntary Arrangements can help you determine if this solution aligns with your financial goals.

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Debt Help Plymouth
Debt Relief Orders (DROs) offer a fresh start to individuals in the UK burdened by unmanageable debts and limited assets. A DRO is suitable for those with low income, minimal assets, and debts less than £30,000. The application process involves meeting specific criteria and obtaining approval from an Official Receiver. Once a DRO is granted, your debts are frozen for 12 months, providing relief from creditor pressure. While a DRO can bring financial relief, it may impact your credit rating and borrowing ability in the future. Seeking professional advice on Debt Relief Orders can help you navigate this debt solution effectively.

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Debt Help Plymouth
A Debt Management Plan (DMP) is a flexible solution designed to help individuals in the UK repay their debts at an affordable rate. It is suitable for those struggling to meet monthly payments but can afford to make reduced payments over an extended period. A DMP involves negotiating lower monthly payments with creditors and combining multiple debts into one manageable payment. While a DMP can provide relief from debt stress, it may impact your credit score and borrowing capacity. Seeking professional advice on Debt Management Plans can help you explore the best options for managing your debts effectively without judgment.

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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 Help Plymouth in Plymouth provides tailored debt solutions in the UK. Explore Debt Management Plans, IVAs, DROs, and Bankruptcy options for managing debt effectively.