Debt Company Portsmouth

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Debt Company Portsmouth: Expert Debt Help for You

Debt Company Portsmouth: Welcome to our dedicated debt solutions website. We understand the challenges of managing debt and offer tailored solutions like Debt Management Plans, Individual Voluntary Arrangements, Debt Relief Orders, and Bankruptcy. 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 Portsmouth: Exploring Bankruptcy in the UK can be a daunting prospect. Bankruptcy is a legal process where an individual can declare themselves unable to pay their debts. It is suitable for those with overwhelming debt and no feasible way to repay it. The process involves filling out a bankruptcy application, attending a hearing, and adhering to restrictions. Pros include debt write-off and relief from creditor contact, but cons involve potential asset loss and negative credit impact. Bankruptcy can affect credit scores, assets, and future borrowing. Seek professional advice for tailored solutions without judgment.

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Debt Company Portsmouth: Delving into Individual Voluntary Arrangements (IVAs) in the UK provides a structured approach to debt management. An IVA is suitable for individuals seeking to repay their debts over a fixed period. Eligibility criteria, monthly payment arrangements, and debt write-off post-completion are key components. Consider the impact on credit ratings and assets before proceeding with an IVA. Seek professional debt advice to determine the suitability of an IVA for your financial situation.

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Debt Company Portsmouth: Discovering Debt Relief Orders (DROs) in the UK offers a fresh start for individuals struggling with debt. A DRO is suitable for those with low income, minimal assets, and debts below a certain threshold. The application process involves a fee and eligibility criteria assessment. Advantages include debt write-off after a 12-month moratorium period, but drawbacks may involve restrictions on financial activities. Seek professional advice to determine if a DRO is the right solution for your circumstances.

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Debt Company Portsmouth: Understanding Debt Management Plans in the UK is crucial for managing debt effectively. A DMP is a structured repayment plan tailored to individual financial circumstances. It is suitable for those with multiple debts seeking a consolidated payment solution. Payments are arranged based on affordability, with involvement from creditors to agree on terms. Benefits include reduced stress and simplified repayments, but drawbacks may involve extended repayment periods. A DMP can impact credit scores and borrowing abilities. Seek professional advice to explore DMP as a debt solution.

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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 Portsmouth in Portsmouth offers expert debt solutions. Explore Bankruptcy, DMPs, DROs, and IVAs tailored to your needs. Get professional advice for managing debt effectively.