Debt Company Plymouth

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Debt Solutions in Plymouth

Debt Company Plymouth
Welcome to Debt Company Plymouth, where we offer tailored debt solutions to help individuals in the UK manage their financial challenges. We understand the overwhelming nature of seeking debt help and provide supportive guidance to explore options like Debt Management Plans, Individual Voluntary Arrangements, Debt Relief Orders, and Bankruptcy. Our goal is to assist you in achieving long-term financial stability without judgment. Take the first step towards a debt-free future by seeking professional advice today.

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 Plymouth
Bankruptcy can be a daunting prospect, but it’s a legal process that can help individuals in the UK struggling with unmanageable debts. Suitable for those with significant debts and no way to repay them, bankruptcy involves declaring yourself unable to pay what you owe. The process involves a court order to deal with your debts, including selling assets to repay creditors. While it provides relief from debt, there are consequences like affecting your credit score, potentially losing assets, and limitations on future borrowing. Seeking professional advice is crucial to understand if bankruptcy is the right solution for your situation.

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Debt Company Plymouth
An Individual Voluntary Arrangement (IVA) serves as an effective debt solution for individuals in the UK facing insurmountable debts. Ideal for those with stable income, an IVA involves a formal agreement to repay creditors a portion of what is owed. It offers advantages like protection from legal action, reduced monthly payments, and debt write-off upon completion. While it may impact credit ratings, seeking expert advice is crucial to determine if an IVA suits your financial needs.

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Debt Company Plymouth
Debt Relief Orders (DROs) are a viable debt solution for individuals in the UK dealing with low income and minimal assets. Designed for those with debts they can’t repay, a DRO involves applying for legal relief to freeze debts for 12 months, after which they may be written off. While it provides a fresh start, there are limitations like affecting credit ratings and restrictions on obtaining credit. Seeking expert advice is essential to determine if a DRO aligns with your financial circumstances.

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Debt Company Plymouth
A Debt Management Plan (DMP) is a practical debt solution for individuals in the UK facing financial difficulties. Tailored to those struggling with unsecured debts, a DMP involves consolidating multiple debts into a single monthly payment based on affordability. It offers benefits like reduced monthly payments, freezing interest and charges, and avoiding legal action from creditors. However, it may impact credit ratings and borrowing capabilities. Seeking advice from debt professionals is key to exploring if a DMP is the right path to financial stability.

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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 Plymouth in Plymouth offers tailored debt solutions including Debt Management Plans, IVAs, and Bankruptcy. Get expert debt advice for a path to financial stability.