Debt Management Cardiff

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Debt Management Cardiff

Debt Management Cardiff
Welcome to Debt Management Cardiff, where we offer tailored debt solutions to help you regain financial stability. Our range of services, including Debt Management Plans, Individual Voluntary Arrangements, Debt Relief Orders, and Bankruptcy, are designed to support you on your journey to financial freedom. Explore your options with us today without judgment.

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 Management Cardiff
Bankruptcy is a legal process that can help individuals in the UK deal with overwhelming debts that they cannot repay. It is suitable for those with unmanageable debts and no other viable options. The process involves declaring bankruptcy, where your assets may be used to repay creditors, and a trustee manages your financial affairs. While bankruptcy can provide a fresh start, it can also have consequences such as impacting your credit score, potentially losing assets, and limiting future borrowing. It’s crucial to seek professional advice to understand if bankruptcy is the right solution for you without judgment.

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Debt Management Cardiff
Individual Voluntary Arrangements (IVAs) are a structured debt solution in the UK for those struggling with repayments. This legal agreement allows you to make affordable monthly payments towards your debts, with the remaining balance typically written off after completion. While an IVA can provide relief, it’s essential to seek professional advice to determine if it’s the right solution for your financial situation.

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Debt Management Cardiff
Debt Relief Orders (DROs) offer a fresh start to individuals in the UK burdened by debt. Suitable for those with low income, minimal assets, and debts below a certain threshold, a DRO freezes debts for 12 months. While it can provide relief, there are limitations like affecting credit ratings and borrowing. Seeking professional advice is key to understanding if a DRO is the right solution for you.

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Debt Management Cardiff
A Debt Management Plan (DMP) is a debt solution tailored for individuals in the UK struggling with repayments. It involves consolidating multiple debts into a single affordable monthly payment managed by a debt management company. While a DMP can provide relief by freezing interest and charges, it may also impact credit scores and borrowing. Seeking professional debt advice is essential to explore if a DMP is suitable for your situation without judgment.

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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 Management Cardiff in Cardiff offers tailored debt solutions including Debt Management Plans, IVAs, and Bankruptcy. Explore affordable debt help options in Cardiff.