Debt Company Lincoln

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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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Debt Company Lincoln – Debt Help

Debt Company Lincoln

Welcome to Debt Company Lincoln, where we understand the challenges of managing debt. We offer tailored solutions, including Debt Management Plans, Individual Voluntary Arrangements, Debt Relief Orders, and Bankruptcy. Your financial well-being is our priority, and we’re here to support you on your journey towards a debt-free future. Take the first step by exploring your options with us.

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 Lincoln

Bankruptcy can be a daunting prospect, but it’s a legitimate debt solution for individuals facing overwhelming financial challenges in the UK. It offers a fresh start by clearing most unsecured debts, providing relief from creditor pressure. However, bankruptcy isn’t suitable for everyone and should be considered carefully. The process involves declaring bankruptcy, which typically lasts for a year, after which most debts are written off. While this can be liberating, bankruptcy comes with consequences, including affecting credit scores, potential asset loss, and restrictions on future borrowing. It’s crucial to seek professional advice to understand the implications fully and explore alternatives tailored to your situation. Remember, seeking help is a proactive step towards financial recovery.

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Debt Company Lincoln

Individual Voluntary Arrangements (IVAs) provide a structured debt solution for individuals in the UK seeking to manage their financial obligations. An IVA allows for affordable monthly payments and potential debt write-off upon completion. While an IVA can offer relief, it’s essential to consider the impact on credit ratings and borrowing. Seeking professional advice is crucial to determining if an IVA aligns with your financial goals. Remember, taking control of your debt through an IVA is a positive step towards long-term financial stability.

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Debt Company Lincoln

Debt Relief Orders (DROs) offer a viable debt solution for eligible individuals in the UK facing severe financial hardship. A DRO freezes debts for 12 months, providing relief from creditor pressure and potential debt write-off. While a DRO can be beneficial, it’s crucial to understand the eligibility criteria and implications. Seeking professional advice is key to navigating the DRO application process and ensuring a fresh start towards financial recovery. Remember, exploring your options and seeking support is a proactive approach to overcoming debt challenges.

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Debt Company Lincoln

A Debt Management Plan (DMP) is a helpful debt solution for UK residents struggling to manage repayments. It involves consolidating unsecured debts into a single affordable monthly payment, negotiated with creditors. While a DMP can provide relief from overwhelming debt, it’s essential to consider the impact on credit scores and borrowing. By seeking expert advice, individuals can explore whether a DMP is the right fit for their circumstances, ensuring a structured approach to debt repayment. Remember, taking control of your finances through a DMP is a positive step towards achieving financial stability.

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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.

Expert debt solutions in Lincoln tailored to your needs. Explore options like Debt Management Plans, IVAs, DROs, and bankruptcy with Debt Company Lincoln. Achieve financial freedom today.