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Debt Company Bradford

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

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Advice is free but fees and disadvantages may apply if you enter a debt help solution.
May not be suitable for all.

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Affordable Debt Help Solutions

Debt Company Bradford
Welcome to Debt Company Bradford, where we understand the challenges of managing debt. We offer tailored solutions like Debt Management Plans, IVAs, DROs, and Bankruptcy to help you achieve financial stability. Explore your options with us today.

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 Company Bradford
Bankruptcy is a legal debt solution in the UK that allows individuals to clear unmanageable debts they cannot repay. It is suitable for those with significant debts and no realistic way to repay them. The process involves declaring bankruptcy, which involves court proceedings and the appointment of a trustee to manage your assets and debts. Pros include debt write-off and relief from creditor pressure, but cons may include restrictions on borrowing, asset loss, and impact on credit scores. Bankruptcy typically lasts for one year. Seek professional advice for tailored guidance without judgment.

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Debt Company Bradford
An Individual Voluntary Arrangement (IVA) is a formal agreement in the UK that allows individuals to repay a portion of their debts over a set period. It is suitable for those with stable income and significant debts. IVAs involve a licensed insolvency practitioner, monthly payments based on affordability, and potential debt write-off. Consider the impact on credit ratings and assets before proceeding with an IVA. Seek professional advice to determine if an IVA is the right debt solution for you.

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Debt Company Bradford
Debt Relief Orders (DROs) offer debt relief to those in the UK with low income, few assets, and debts they cannot afford to repay. A DRO freezes debts for 12 months, after which they are typically written off. Eligibility criteria include debt and asset limits. Advantages of a DRO include debt relief and protection from creditors, while disadvantages may involve restrictions on borrowing and impact on credit ratings. Seek professional advice to understand if a DRO is the right solution for your circumstances.

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Debt Company Bradford
A Debt Management Plan (DMP) in the UK is a structured repayment plan for individuals struggling with debts. It is suitable for those with multiple debts they can afford to repay over time. A DMP involves negotiating reduced payments with creditors and making a single affordable monthly payment. Benefits include simplified repayments and reduced stress, but drawbacks may include extended repayment duration and potential impact on credit scores. Seek professional debt advice to explore if a DMP is suitable 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 Company Bradford in Location offers tailored debt solutions like DMPs, IVAs, DROs, and Bankruptcy to help individuals achieve financial stability. Explore your options with us today.