Write Off Debt Cardiff

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May not be suitable for all.

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Write Off Debt Cardiff: Debt Help Assistance

Welcome to Write Off Debt Cardiff, where we understand the challenges of managing debt. Our tailored solutions, including Debt Management Plans, Individual Voluntary Arrangements, Debt Relief Orders, and Bankruptcy, aim to provide financial stability. Explore your options with our expert guidance 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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Bankruptcy is a legal process in the UK where an individual can declare themselves unable to pay their debts. It is suitable for those with overwhelming debt and no feasible way to repay. The process involves a court-appointed trustee handling the individual’s assets to repay creditors. Pros include debt relief and a fresh start, but cons include impact on credit score and potential loss of assets. Seeking professional advice is crucial for tailored guidance.

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Individual Voluntary Arrangements (IVAs) offer a structured debt solution in the UK. Suitable for those with unmanageable debt, an IVA involves monthly repayments and potential debt write-off. Eligibility criteria apply, and credit ratings may be affected. Seek professional advice to determine if an IVA is the right path for you.

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Debt Relief Orders (DROs) are for those with low income and minimal assets in the UK. This solution freezes debt repayments for 12 months, after which debts may be written off. Eligibility criteria apply, and the process is overseen by an Official Receiver. DROs provide relief, but credit scores are impacted. Seek professional advice to explore DRO suitability for your circumstances.

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A Debt Management Plan (DMP) is a UK debt solution for individuals struggling with repayments. It involves consolidating debts into one affordable monthly payment. Benefits include reduced stress and interest freezes, but drawbacks may include extended repayment periods. Credit scores can be affected, but a DMP offers a structured path towards financial stability. Seek expert advice for personalized support.

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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

Check if you qualify

Example case completed in 2023. Repayment calculated using income and expenditure data. Monthly payments and write off percentages are based on individual circumstances.

Tailored debt solutions at Write Off Debt Cardiff in Location, including Debt Management Plans, IVAs, and Bankruptcy. Explore options for financial stability.