Debt Free Cardiff

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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 Free Cardiff – Get Help with Debt

Debt Free Cardiff
Welcome to Debt Free Cardiff, where we understand the challenges of dealing with debt. We offer a range of tailored solutions, including Debt Management Plans, Individual Voluntary Arrangements, Debt Relief Orders, and Bankruptcy. Our goal is to provide affordable debt help that supports your long-term financial stability. Take the first step towards a debt-free future 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 Free Cardiff
Bankruptcy can be a viable debt solution for individuals in the UK facing overwhelming financial challenges. It is a legal process that allows you to declare insolvency and be relieved of most debts. However, bankruptcy is not suitable for everyone and should be considered carefully. The process involves filling out an application, attending a court hearing, and complying with restrictions on your financial affairs. While bankruptcy can provide a fresh start, it may have long-term consequences on your credit score, assets, and ability to borrow in the future. If you are considering bankruptcy, it is crucial to seek professional advice tailored to your specific situation without judgment.

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Debt Free Cardiff
An Individual Voluntary Arrangement (IVA) is a formal agreement between you and your creditors to repay a percentage of your debts over a fixed period, usually five to six years. IVAs are suitable for individuals in the UK with a stable income who can commit to regular payments. While an IVA can help you become debt-free, it may have consequences on your credit rating and ability to borrow. If you are considering an IVA, seeking professional debt advice is essential to determine if it is the right solution for you.

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Debt Free Cardiff
A Debt Relief Order (DRO) is a form of insolvency designed for individuals in the UK with low income, few assets, and debts they cannot repay. It provides a way to have your debts frozen for 12 months, after which they may be written off if your situation does not improve. While a DRO can offer relief from overwhelming debt, it comes with certain restrictions and may affect your credit rating. If you meet the eligibility criteria for a DRO, seeking professional advice is crucial to understand the implications and make an informed decision.

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Debt Free Cardiff
A Debt Management Plan (DMP) is a flexible way to repay your debts at a rate you can afford. It involves making reduced monthly payments to a licensed debt management company, who then distributes the funds to your creditors. DMPs are suitable for individuals in the UK struggling with unmanageable debt but can afford to make regular payments. While DMPs can help you regain control of your finances and avoid legal action, they may take longer to clear your debts and have an impact on your credit score. If you are considering a DMP, it is essential to seek professional advice to explore your options and create a sustainable repayment plan.

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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 Free Cardiff in Cardiff offers tailored debt solutions, including Debt Management Plans, IVAs, and Bankruptcy. Get professional advice to achieve financial stability.