Debt Advice Milton Keynes

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 Advice Milton Keynes: Debt Help Solutions

Debt Advice Milton Keynes
Welcome to Debt Advice Milton Keynes, where we provide tailored debt solutions to individuals in the UK. We understand that seeking debt help can be overwhelming, but we’re here to support you. Our range of services, including Debt Management Plans, Individual Voluntary Arrangements, Debt Relief Orders, and Bankruptcy, are designed to suit your unique circumstances and promote long-term financial stability. Explore your options with us and seek professional advice 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.

Check if you qualify

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 Milton Keynes
Bankruptcy can be a viable solution for individuals struggling with overwhelming debt in the UK. It provides a fresh start by clearing most debts, but it’s important to understand the implications. Bankruptcy is suitable for those with unmanageable debts and no other viable options. The process involves declaring bankruptcy, which is a legal status that lasts for usually one year. While it offers relief from debt, bankruptcy can affect credit scores, assets, and future borrowing. It’s crucial to seek professional advice to navigate this process and understand the consequences, without judgment.

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Debt Advice Milton Keynes
Individual Voluntary Arrangements (IVAs) offer a structured approach to resolving debts for individuals in the UK. An IVA is suitable for those with significant debts seeking a manageable repayment plan. It involves making affordable monthly payments to creditors, with the potential of debt write-off upon completion. While it impacts credit ratings, an IVA can provide relief from unmanageable debts. Seeking professional debt advice is key to determining if an IVA is the right solution for your financial situation.

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Debt Advice Milton Keynes
Debt Relief Orders (DROs) offer a fresh start for individuals in the UK burdened by debts they cannot repay. A DRO is suitable for those with low income, minimal assets, and debts below a certain threshold. The application process involves seeking approval from an Official Receiver and experiencing a 12-month moratorium period. While it freezes debts, a DRO may affect credit ratings. Seeking professional advice is crucial to determine if a DRO is the right solution for managing debts.

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Debt Advice Milton Keynes
Debt Management Plans (DMPs) are designed to help individuals in the UK regain control of their finances. A DMP is suitable for those struggling with multiple debts and seeking a structured repayment plan. It involves setting up affordable monthly payments to creditors, managed by a DMP provider. While it can simplify repayments and freeze interest, it may impact credit scores. Seeking professional debt advice is essential to explore this option and understand how it can help manage debts effectively.

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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 Milton Keynes: Find tailored debt solutions in Milton Keynes. Explore options like Debt Management Plans, IVAs, and Bankruptcy for effective debt management in the UK.