Clear Debt Plymouth

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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Clear Debt Plymouth: Get Help with Debt Today

Clear Debt Plymouth: Welcome to Clear Debt Plymouth, where we offer tailored debt solutions to help you regain financial stability. We understand that dealing with debt can be overwhelming, but we’re here to support you every step of the way. Our range of services, including Debt Management Plans, Individual Voluntary Arrangements, Debt Relief Orders, and Bankruptcy, are designed to meet your unique needs. 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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Clear Debt Plymouth: Bankruptcy can provide a fresh start for those struggling with overwhelming debt in the UK. It is a legal process that can help individuals eliminate unmanageable debts and regain financial stability. Bankruptcy is suitable for individuals who have explored other debt solutions without success and have debts they cannot repay. The process involves declaring bankruptcy, which involves a court order, and a trustee overseeing the individual’s financial affairs. While bankruptcy can provide relief, it also comes with consequences. It can affect credit scores, assets may be sold to repay creditors, and future borrowing may be limited. However, bankruptcy offers a chance to start anew and work towards a debt-free future. Seek professional advice to understand your options and make an informed decision.

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Clear Debt Plymouth: An Individual Voluntary Arrangement (IVA) is a formal debt solution for individuals in the UK struggling with unmanageable debts. It allows you to make affordable monthly payments towards your debts for a set period, typically five years. An IVA is suitable for individuals with a stable income who can afford to make regular payments towards their debts. While an IVA can help you avoid bankruptcy and protect your assets, it may impact your credit rating. However, an IVA offers a structured way to repay debts and achieve financial freedom. Consult a debt professional to determine if an IVA is the right solution for you.

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Clear Debt Plymouth: Debt Relief Orders (DROs) offer a route to debt relief for individuals in the UK with low income, minimal assets, and debts they cannot repay. A DRO freezes debts for 12 months, after which they are typically written off if the individual’s financial situation has not improved. DROs are suitable for those with debts under a certain threshold and minimal assets. The application process involves working with an approved intermediary to assess eligibility and submit the application to the Insolvency Service. While a DRO can provide a fresh start, it comes with restrictions, such as limitations on borrowing. Seek professional advice to determine if a DRO is the right debt solution for your circumstances.

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Clear Debt Plymouth: A Debt Management Plan (DMP) is a flexible debt solution for individuals in the UK struggling with unmanageable debts. It involves making affordable monthly payments to a DMP provider, who distributes the funds to creditors on your behalf. A DMP is suitable for those with non-priority debts who can afford to make regular payments towards their debts. While a DMP can help simplify debt repayments and stop creditor harassment, it may take longer to repay debts, and interest and charges may still apply. A DMP can impact credit scores, but it provides a structured way to manage debts and work towards financial stability. Consider seeking professional debt advice to explore if a DMP is the right solution for you.

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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.

Clear Debt Plymouth in Plymouth provides tailored debt solutions including Debt Management Plans, IVAs, DROs, and bankruptcy to help individuals in the UK regain financial stability. Contact us today for support with your debts.