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Debt Advice Plymouth

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

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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

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Debt Advice Plymouth
Welcome to Debt Advice Plymouth, where we understand that seeking help with debt can be overwhelming. Our tailored solutions, including Debt Management Plans, Individual Voluntary Arrangements, Debt Relief Orders, and Bankruptcy, aim to provide affordable and sustainable paths to financial stability. Explore your options with us and receive professional advice without any 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 Advice Plymouth
Bankruptcy can provide a fresh start for individuals struggling with overwhelming debts in the UK. It is a legal process that involves declaring yourself unable to pay your debts. Suitable for those with unmanageable debt and no other viable options, bankruptcy can offer relief from financial burdens. The process typically lasts for one year, during which your assets may be used to repay creditors. While bankruptcy can clear most debts, it can have long-term effects on credit scores, making future borrowing challenging. It’s essential to seek professional advice to understand if bankruptcy is the right solution for your situation without fear of judgment.

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Debt Advice Plymouth
Individual Voluntary Arrangements (IVAs) offer a formal way to repay debts in the UK, tailored to individuals facing financial challenges. An IVA allows you to make affordable monthly payments to creditors, with the remaining debts typically written off after successful completion. While IVAs can protect you from further creditor action, they may impact your credit rating and borrowing abilities. Seeking expert debt advice is essential to determine if an IVA is the right solution for your circumstances without bias.

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Debt Advice Plymouth
Debt Relief Orders (DROs) offer a fresh start to individuals in the UK with low income, minimal assets, and debts they cannot repay. A DRO freezes your debts for 12 months, giving you relief from creditor pressure and financial worries. While DROs can provide a more straightforward alternative to bankruptcy, they come with restrictions, including limitations on borrowing and asset ownership. Seeking professional advice is crucial to determine if a DRO is the right debt solution for your specific situation without any stigma.

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Debt Advice Plymouth
Debt Management Plans (DMPs) are a structured way to repay debts in the UK for individuals struggling with multiple creditors. A DMP allows you to make affordable monthly payments based on your income and expenses, providing a realistic path to becoming debt-free. While DMPs can simplify debt repayment and stop creditor harassment, they may extend the time to clear debts, and interest and charges could still apply. It’s crucial to seek professional debt advice to explore if a DMP is the best solution for your financial circumstances 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 Advice Plymouth in Plymouth offers tailored debt solutions in the UK. Explore bankruptcy, DMPs, DROs, and IVAs for financial relief. Contact us today for judgment-free advice.