Debt Management Company Cardiff

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Debt Management Company Cardiff

Welcome to Debt Management Company 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 affordable and sustainable options for your financial well-being. We’re here to support you through your journey towards financial stability. Explore the possibilities with us 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 Management Company Cardiff

Bankruptcy can be a viable debt solution for individuals in the UK facing overwhelming financial challenges. It is a legal process that involves declaring yourself unable to pay your debts. This option is suitable for those with unmanageable debts and no feasible way to repay them over a reasonable period. The bankruptcy process typically lasts for one year, during which your assets may be used to repay creditors. While bankruptcy offers relief from most debts, it can have long-term consequences on your credit score, assets, and ability to borrow in the future. It’s crucial to seek professional advice to understand the implications and explore alternative solutions tailored to your situation without judgment.

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Debt Management Company Cardiff

Individual Voluntary Arrangements (IVAs) offer a structured approach to resolving debts for individuals in the UK. Suitable for those with significant unsecured debts, an IVA involves making affordable monthly payments over a fixed period, usually five years. Upon successful completion, a portion of your debts may be written off. While an IVA provides a clear path to debt settlement, it can affect your credit rating and ability to borrow in the future. Seeking professional advice is key to determining if an IVA aligns with your financial goals and circumstances.

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Debt Management Company Cardiff

Debt Relief Orders (DROs) offer a fresh start to individuals in the UK burdened by relatively low debts and minimal assets. A DRO is suitable for those with debts under a specific threshold who are unable to repay them. The application process involves seeking approval from an official receiver, and if accepted, your debts are frozen for 12 months. While a DRO provides relief from qualifying debts, it can impact your credit rating and limit your ability to obtain credit during the moratorium period. Seeking professional advice is essential to determine if a DRO is the most suitable solution for your financial situation.

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Debt Management Company Cardiff

A Debt Management Plan (DMP) is a practical debt solution for individuals in the UK struggling to keep up with multiple debt repayments. It involves consolidating your debts into a single affordable monthly payment based on what you can realistically afford. DMPs are suitable for those with non-priority debts and a regular source of income. While a DMP can provide relief by reducing monthly payments, it may take longer to repay debts, and interest and charges may still apply. It’s important to seek professional debt advice to assess if a DMP is the right solution for your financial circumstances without pressure.

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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 Management Company Cardiff – Providing tailored debt solutions in Cardiff. Explore options like Debt Management Plans, IVAs, DROs, and Bankruptcy for financial stability.