Debt Advice Stoke

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

Affordable Debt Help Stoke

Debt Advice Stoke

Welcome to Debt Advice Stoke, where we understand the challenges of managing debt and offer tailored solutions to help you achieve financial stability. Seeking debt help can be overwhelming, but our friendly team is here to guide you through the process with care and support.

We provide a range of services, including Debt Management Plans, Individual Voluntary Arrangements, Debt Relief Orders, and Bankruptcy, designed to meet your unique needs and budget. Our goal is to empower you to make informed decisions about your financial future without judgment or pressure.

Take the first step towards a debt-free life by exploring our debt solutions and seeking professional advice from our experienced team. We’re here to support you on your journey to financial well-being.

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 Stoke

Bankruptcy can be a daunting prospect, but it’s essential to understand what it entails if you’re considering it as a debt solution in the UK. Bankruptcy is a legal process where you declare yourself unable to pay your debts, and it can provide relief from overwhelming financial burdens. It’s suitable for individuals with unmanageable debts and no other viable options for repayment.

The process of bankruptcy involves a court-appointed official, known as the Official Receiver, who takes control of your assets and finances. This includes selling off assets to repay creditors, and any remaining debts are typically written off after a year. However, bankruptcy comes with consequences, such as a negative impact on your credit score, restrictions on borrowing, and potential loss of assets.

Despite the challenges, bankruptcy offers a fresh start for those in severe financial distress. If you’re considering bankruptcy, it’s crucial to seek professional advice tailored to your circumstances. Our team at Debt Advice Stoke can guide you through the process without judgment, helping you make informed decisions for a more stable financial future.

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Debt Advice Stoke

Individual Voluntary Arrangements (IVAs) offer a structured approach to managing debts in the UK. An IVA is a formal agreement between you and your creditors to repay a portion of your debts over a fixed period, typically five years. It’s suitable for individuals with significant debts who can afford monthly payments but need a manageable repayment plan.

The process of an IVA involves an insolvency practitioner overseeing your finances, negotiating with creditors, and distributing payments accordingly. Once you complete the IVA, any remaining debts included in the agreement are typically written off. However, it’s important to consider the impact on your credit rating and borrowing capabilities.

If you’re exploring the option of an Individual Voluntary Arrangement, our team at Debt Advice Stoke is here to help. We provide expert advice tailored to your financial situation, guiding you through the process with care and understanding. Take control of your debts and start your journey towards a debt-free future with our support.

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Debt Advice Stoke

Debt Relief Orders (DROs) offer a fresh start for individuals facing overwhelming debts in the UK. A DRO is a formal insolvency procedure that freezes your debts for a year, after which they are typically written off if your financial situation has not improved. It’s suitable for those with low income, minimal assets, and debts below a certain threshold.

The application process for a DRO involves seeking advice from an approved intermediary who assesses your eligibility and helps you complete the necessary paperwork. While a DRO provides relief from debt stress, it also comes with restrictions, such as limitations on borrowing and potential impact on credit ratings.

If you’re considering a Debt Relief Order, our team at Debt Advice Stoke is here to assist you. We offer professional advice tailored to your circumstances, guiding you through the process with care and support. Take the first step towards financial freedom by exploring your options and seeking the help you need.

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Debt Advice Stoke

A Debt Management Plan (DMP) can be a lifeline for individuals struggling with debts in the UK. This debt solution involves consolidating multiple debts into a single monthly payment, managed by a DMP provider on your behalf. It’s suitable for those with unsecured debts who can afford to make regular payments but need a structured plan to repay what they owe.

With a DMP, you can negotiate reduced payments with creditors, making it easier to manage your debts. However, there may be drawbacks, such as extended repayment periods and potential impact on credit scores. It’s crucial to understand how a DMP works, including how interest and charges are handled, to make an informed decision.

If you’re considering a DMP, our team at Debt Advice Stoke is here to support you. We provide professional advice on debt solutions tailored to your needs, helping you navigate the complexities of managing debt without judgment. Explore your options and take the first step towards a debt-free future with our guidance.

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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 Stoke offers tailored debt solutions in the UK. Explore options like Debt Management Plans, IVAs, DROs, and bankruptcy with expert advice and support. Located in Stoke.