Debt Management Company Yorkshire

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Tailored Debt Help Solutions for You

Debt Management Company Yorkshire

Welcome to Debt Management Company Yorkshire, where we understand the challenges of managing debt. Our tailored solutions, including Debt Management Plans, Individual Voluntary Arrangements, Debt Relief Orders, and Bankruptcy, are designed to help you achieve financial stability. We offer non-judgmental support and professional advice to guide you through your debt journey. 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 Management Company Yorkshire

Bankruptcy can be a daunting but viable debt solution for individuals in the UK facing overwhelming financial difficulties. It involves declaring that you cannot repay your debts, providing relief from unmanageable financial burdens. Bankruptcy is suitable for those with significant debts and no feasible way to repay them. The process involves applying to the court, who appoint a trustee to manage your assets and debts. While bankruptcy can provide a fresh start, it comes with consequences. Your credit score will be severely impacted, assets may be sold to repay creditors, and future borrowing can be challenging. Despite these drawbacks, bankruptcy offers a path to financial recovery for many individuals. If you are considering bankruptcy, seek professional advice tailored to your circumstances without judgment.

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Debt Management Company Yorkshire

An Individual Voluntary Arrangement (IVA) is a structured debt solution for individuals in the UK seeking to repay creditors over a fixed period. IVAs are suitable for those with unmanageable debts who can afford monthly repayments. This legally binding agreement freezes interest and charges, allowing you to clear debts efficiently. While an IVA can impact credit ratings, it provides a clear path to debt resolution. If you are considering an IVA, seek expert advice to determine if it’s the right choice for you.

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Debt Management Company Yorkshire

A Debt Relief Order (DRO) is a potential debt solution for individuals in the UK with low income, minimal assets, and debts they cannot repay. It offers a fresh start by freezing debts for 12 months, after which they may be written off. DROs are suitable for those with debts under the specified limit and meet the eligibility criteria. While a DRO can provide relief, it will impact credit ratings and limit financial transactions during the moratorium period. If you believe a DRO is suitable for your situation, seek professional advice to understand the implications.

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Debt Management Company Yorkshire

A Debt Management Plan (DMP) is a practical debt solution for individuals in the UK struggling to manage repayments. It involves consolidating multiple debts into a single affordable monthly payment, negotiated with creditors through a reputable debt management company. DMPs are suitable for those with non-priority debts who can afford to repay them over time. While a DMP can provide relief and stop creditor harassment, it may take longer to clear debts, and interest may continue to accrue. Credit scores can be affected, impacting future borrowing. If you are considering a DMP, seek professional debt advice to explore this option further.

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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 Yorkshire in UK offers tailored debt solutions including DMPs, IVAs, and bankruptcy. Find support and guidance for managing debt effectively.