Clear Debts Cardiff

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Clear Debts Cardiff – Debt Help Assistance

Clear Debts Cardiff

Welcome to Clear Debts Cardiff, where we understand the challenges of dealing with debt. Our tailored debt solutions, including Debt Management Plans, IVAs, DROs, and Bankruptcy, aim to provide you with affordable and sustainable financial paths. Explore your options 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.

Check if you qualify

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 Debts Cardiff

Bankruptcy is a legal process that allows individuals in the UK to deal with overwhelming debt they cannot repay. It is suitable for those with unmanageable debts and no realistic way to pay them off. The process involves declaring bankruptcy, which involves fees and paperwork, and a trustee managing your assets to pay off creditors. While it offers relief from debt, there are drawbacks such as affecting credit scores, losing assets, and limited borrowing options. Seeking professional advice is crucial to navigate the implications of bankruptcy effectively without judgment.

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Clear Debts Cardiff

An Individual Voluntary Arrangement (IVA) is a formal agreement between you and your creditors to repay debts over a fixed period. It is suitable for individuals in the UK with unmanageable debts who can afford monthly repayments. An IVA involves creating a repayment plan, freezing interest, and potentially writing off a portion of the debt. While it can impact credit ratings, it offers a structured way to become debt-free. Seeking professional advice is essential to determine if an IVA is the right solution for your financial circumstances.

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Clear Debts Cardiff

Debt Relief Orders (DROs) provide debt relief for individuals in the UK with low income, low assets, and debts they cannot repay. It is suitable for those with debts under a certain threshold and limited assets. The application process involves a fee, eligibility checks, and a 12-month moratorium period where debts are frozen. While a DRO offers a fresh start, there are limitations such as affecting credit ratings. Seeking professional advice is crucial to understand if a DRO is the best option for managing your debts effectively.

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Clear Debts Cardiff

A Debt Management Plan (DMP) in the UK is a structured repayment plan for individuals struggling with unsecured debts. It is suitable for those who can afford to make reduced monthly payments to their creditors. A DMP involves negotiating lower payments, freezing interest and charges, and distributing payments to creditors. While it offers a manageable way to repay debts, it may impact credit scores and borrowing capacity. Seeking professional debt advice is essential to determine if a DMP is the right solution for your financial situation.

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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 Debts Cardiff in the UK offers tailored debt solutions including Debt Management Plans, IVAs, DROs, and Bankruptcy. Get professional debt advice and support in managing your debts effectively.