Clear Debts Lancashire

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Clear Debts Lancashire: Debt Assistance for UK Residents

Clear Debts Lancashire

Welcome to Clear Debts Lancashire, where we understand the challenges of managing debt. Our tailored solutions, including Debt Management Plans, Individual Voluntary Arrangements, Debt Relief Orders, and Bankruptcy, are designed to help you regain financial control. Explore your options and seek professional advice to pave the way for 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 Debts Lancashire

Bankruptcy can be a daunting prospect, but it’s a legitimate debt solution in the UK for those facing overwhelming financial difficulties. It’s suitable for individuals who have no realistic way of repaying their debts, offering a fresh start. The process involves declaring bankruptcy, which involves a court order and a trustee managing your affairs. While it can write off unsecured debts, it also has consequences such as affecting credit scores, potentially losing assets, and limiting future borrowing. Remember, seeking professional advice is crucial for tailored guidance and support.

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Clear Debts Lancashire

Individual Voluntary Arrangements (IVAs) offer a structured approach to resolving debt issues in the UK. Suited for individuals with a regular income, an IVA involves a formal agreement with creditors to repay a portion of what you owe. While it provides a clear path to debt freedom, it can impact credit ratings and borrowing abilities. Consultation with debt experts is vital to determine if an IVA is right for you.

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Clear Debts Lancashire

Debt Relief Orders (DROs) are designed for individuals in the UK with low income, minimal assets, and debts they can’t repay. Applying for a DRO involves meeting specific criteria and undergoing a 12-month moratorium period where debts are frozen. While it’s a helpful solution, there are limitations, such as restrictions on borrowing and affecting credit scores. Seeking expert advice is key to understanding if a DRO is the right path for you.

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Clear Debts Lancashire

Debt Management Plans (DMPs) are a practical way to tackle debt issues in the UK. Tailored to individuals struggling to meet repayments, a DMP consolidates multiple debts into one manageable monthly payment. While it eases financial pressure and stops creditors from taking legal action, it may take longer to clear debts. Credit scores may be affected, but seeking professional advice can help you explore the best debt solutions for your 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 Lancashire: Providing tailored debt solutions in Lancashire. Explore Debt Management Plans, Individual Voluntary Arrangements, Debt Relief Orders, and Bankruptcy options. Seek professional advice for financial stability.