Debt Advice Cardiff

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 Cardiff – Financial Relief Support

Debt Advice Cardiff

Welcome to Debt Advice Cardiff, where we offer tailored debt solutions to support your financial well-being. We understand the challenges of debt and provide a range of services, including Debt Management Plans, Individual Voluntary Arrangements, Debt Relief Orders, and Bankruptcy. Our goal is to help you achieve financial stability by offering affordable and personalized solutions. Take the first step towards a debt-free future by exploring your options with professional guidance.

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 Advice Cardiff

Bankruptcy can be a challenging but viable debt solution for individuals in the UK facing overwhelming financial difficulties. It is a legal process that allows you to be discharged from most debts, providing a fresh start. Suitable for those with unmanageable debts, bankruptcy involves declaring your insolvency, and the court appoints an official receiver to manage your assets and liabilities. While it offers relief from debts, bankruptcy can have long-lasting consequences on your credit score, assets, and future borrowing. However, it’s essential to remember that seeking professional advice can guide you through this process without judgment.

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Debt Advice Cardiff

Individual Voluntary Arrangements (IVAs) are a structured debt solution designed to help individuals in the UK manage their debts effectively. Suitable for those with significant debts, an IVA involves making affordable monthly payments to an insolvency practitioner, who distributes the funds to creditors. Once completed, a portion of your debts may be written off, offering a fresh start. While an IVA can impact your credit rating, it provides a viable path to financial recovery. Seeking professional debt advice is essential to determine if an IVA is the right choice for you.

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Debt Advice Cardiff

Debt Relief Orders (DROs) offer a fresh start to individuals in the UK burdened by unmanageable debts. It is a form of insolvency suitable for those with low income, few assets, and debts under a specific threshold. With a DRO, your debts are frozen for 12 months, giving you relief from creditor pressure. While it may affect your credit rating, a DRO provides a pathway to financial recovery. Seeking professional advice is key to understanding if a DRO is the right step for your circumstances.

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Debt Advice Cardiff

A Debt Management Plan (DMP) is a practical solution for UK individuals struggling with debt. It involves making affordable monthly payments to a debt management company, which distributes the funds to your creditors. Suitable for those with multiple debts who can afford to make reduced payments, a DMP can help you regain control of your finances. While it may impact your credit score, the benefits include stopping interest and charges, making repayments manageable. Remember, seeking professional debt advice is crucial to explore the best options 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.

Debt Advice Cardiff in Cardiff offers tailored debt solutions, including Debt Management Plans, Individual Voluntary Arrangements, and Debt Relief Orders. Get expert advice for your financial well-being.