Debt Management Company Portsmouth

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Debt Management Company Portsmouth

Debt Management Company Portsmouth
Welcome to our debt solutions website in the UK. 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 for affordable and sustainable financial stability.

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 Company Portsmouth
If you’re considering bankruptcy in the UK, it’s essential to understand what it entails. Bankruptcy is a legal process where you declare yourself unable to pay your debts. It’s suitable for individuals with overwhelming debt and no means to repay. The process involves submitting an application to the court, which, if approved, results in assets being sold to repay creditors. While it offers a fresh start, bankruptcy can impact credit scores, assets, and future borrowing opportunities. Seek professional advice tailored to UK laws for a clearer understanding of your options.

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Debt Management Company Portsmouth
An Individual Voluntary Arrangement (IVA) is a debt solution for individuals in the UK struggling with repayments. It involves a formal agreement with creditors to repay debts over a set period. While it offers benefits like debt write-off, understanding eligibility criteria and implications is crucial. Seek professional debt advice to determine if an IVA is the right choice for you.

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Debt Management Company Portsmouth
Considering a Debt Relief Order (DRO) in the UK? This solution is aimed at individuals struggling with debt and limited assets. A DRO freezes debts for 12 months, providing relief and a fresh start. While it offers advantages like debt relief, it’s essential to understand the eligibility criteria and implications. Seek professional advice to determine if a DRO aligns with your financial situation under UK regulations.

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Debt Management Company Portsmouth
A Debt Management Plan (DMP) is a debt solution tailored to help individuals in the UK manage their debts effectively. It’s suitable for those struggling to meet monthly payments. A DMP involves negotiating reduced payments with creditors and combining them into a single affordable monthly sum. While it can alleviate financial stress, it may affect credit scores and borrowing capabilities. Seeking professional debt advice is crucial to explore whether a DMP is the right solution for your circumstances.

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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 Company Portsmouth – Your guide to debt solutions in the UK. Explore bankruptcy, DMPs, DROs, and IVAs tailored to your financial needs. Located in Portsmouth.