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Debt Advice Halifax

Speak to an expert to discover all the debt solutions available to you.

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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 Halifax – Debt Help Assistance

Debt Advice Halifax
Welcome to Debt Advice Halifax, where we offer tailored debt solutions to support your financial well-being. We understand the challenges of seeking debt help and aim to provide a non-judgmental environment. Explore our range of services, including Debt Management Plans, Individual Voluntary Arrangements, Debt Relief Orders, and Bankruptcy, to find a solution that fits your needs.

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 Halifax
Bankruptcy can be a viable debt solution for individuals in the UK facing overwhelming financial challenges. It involves declaring insolvency and having your debts written off, providing a fresh start. However, bankruptcy comes with consequences, affecting credit scores, assets, and future borrowing. While it may be suitable for some, it’s crucial to understand the process, implications, and seek professional advice tailored to your situation.

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Debt Advice Halifax
Individual Voluntary Arrangements (IVAs) are an alternative to bankruptcy, offering a formal agreement to repay a portion of your debts over a set period. IVAs can be suitable for those with stable income seeking to avoid bankruptcy. While IVAs provide debt relief, they also impact credit ratings and borrowing. Consider professional advice to determine if an IVA aligns with your financial goals.

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Debt Advice Halifax
Debt Relief Orders (DROs) are designed for individuals in the UK with low income, minimal assets, and debts they’re unable to repay. A DRO freezes debts for 12 months, providing a fresh start once completed. While it offers relief, it also has limitations and implications. Understanding the eligibility criteria, application process, and implications is essential. Seek professional guidance to assess if a DRO is the right solution for you.

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Debt Advice Halifax
A Debt Management Plan (DMP) offers a structured way to repay debts, combining them into a single affordable monthly payment. It’s suitable for those struggling with unsecured debts and seeking a manageable repayment plan. While a DMP can provide relief by freezing interest and charges, it may impact credit scores. Seeking expert advice is key to exploring the suitability of a DMP for your financial circumstances.

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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 Halifax in Halifax offers tailored debt solutions to individuals in the UK, including Debt Management Plans, IVAs, DROs, and bankruptcy assistance. Find support for managing your debts effectively.