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Debt Advice Portsmouth

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 Help in Portsmouth

Debt Advice Portsmouth
Welcome to Debt Advice Portsmouth, where we offer tailored solutions to help you manage your debts effectively. We understand the challenges you may face, and our range of services, including Debt Management Plans, Individual Voluntary Arrangements, Debt Relief Orders, and Bankruptcy, are designed to support you towards financial stability. Explore your options with us today without any 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.
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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 Portsmouth
Bankruptcy can be a viable debt solution for individuals in the UK facing overwhelming financial challenges. It provides a fresh start by clearing unmanageable debts, but it’s crucial to understand the process, implications, and eligibility criteria. Bankruptcy typically lasts for a year and involves surrendering assets to repay creditors. While it offers relief from debt, it can impact credit scores and future borrowing. Seeking professional advice is key to navigating this option effectively.

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Debt Advice Portsmouth
Individual Voluntary Arrangements provide a structured approach to resolving debts for UK individuals. An IVA allows you to make affordable monthly payments over a set period, and any remaining debt is typically written off. While it can offer a fresh start, it’s crucial to consider eligibility criteria and long-term implications. Seeking professional advice is key to determining if an IVA is the right path for you.

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Debt Advice Portsmouth
Debt Relief Orders offer a streamlined debt solution for eligible individuals in the UK. It freezes debts for a year, providing relief from creditor pressure. However, not everyone qualifies, and certain criteria must be met. While a DRO can be beneficial, it’s essential to understand the implications and seek professional guidance to explore all available options.

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Debt Advice Portsmouth
Debt Management Plans are a practical debt solution for UK residents struggling with repayments. With a DMP, you make affordable monthly payments based on what you can afford, which are then distributed to creditors. While it can help regain control of finances, it may extend the repayment period and impact credit scores. Seeking expert advice is crucial to assess if a DMP is the right fit 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.

Debt Advice Portsmouth provides tailored debt solutions for individuals in the UK. From Debt Management Plans to Bankruptcy, our expert advice in Portsmouth can help you regain financial control.