Debt Solutions 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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Affordable Debt Help in Cardiff

Debt Solutions Cardiff

Welcome to Debt Solutions Cardiff, where we offer tailored debt solutions to individuals in the UK. We understand that seeking debt help can be overwhelming, and we are here to guide you through the process. Our range of services, including Debt Management Plans, Individual Voluntary Arrangements, Debt Relief Orders, and Bankruptcy, are designed to address your unique financial circumstances and promote long-term stability. Explore your options with us and take the first step towards a debt-free future.

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 Solutions Cardiff

Bankruptcy can be a daunting but necessary debt solution for individuals facing overwhelming financial difficulties in the UK. It is a legal process that involves declaring yourself unable to repay your debts. Bankruptcy is suitable for those with unmanageable debts and limited assets to cover them. The process typically lasts for a year, during which your assets may be used to repay creditors, and your debts may be written off. However, bankruptcy can have long-term consequences on your credit score and future borrowing capabilities. It is crucial to seek professional advice to understand all implications and explore alternative solutions tailored to your situation.

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Debt Solutions Cardiff

Individual Voluntary Arrangements (IVAs) offer a structured debt solution for individuals in the UK struggling with repayments. An IVA involves making reduced monthly payments towards your debts for a set period, after which any remaining debts are written off. IVAs are suitable for those with a regular income seeking to avoid bankruptcy. While IVAs provide benefits like debt relief and protection from creditors, they may also impact credit ratings and borrowing opportunities. Seeking professional advice is crucial to determine if an IVA is the right path towards financial freedom.

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Debt Solutions Cardiff

Debt Relief Orders (DROs) provide a fresh start for individuals burdened by unmanageable debts in the UK. A DRO is a formal insolvency process that freezes your debts for a year, allowing you to focus on essential living expenses. DROs are suitable for those with low income, minimal assets, and debts below a certain threshold. While DROs offer advantages like debt relief and protection from creditors, they also come with restrictions on borrowing and financial activities. Seeking professional advice is crucial to assess your eligibility and understand the implications of a DRO.

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Debt Solutions Cardiff

A Debt Management Plan (DMP) is a valuable debt solution for individuals struggling with repayments in the UK. It involves consolidating multiple debts into a single affordable monthly payment. DMPs are suitable for those with a regular income seeking to repay their debts without resorting to insolvency. While DMPs offer benefits like reduced stress and simplified payments, they may also have drawbacks such as prolonged repayment periods and potential impact on credit scores. Seeking professional advice is essential to determine if a DMP is the right solution for your financial situation.

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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 Solutions Cardiff in Cardiff offers tailored debt solutions including Bankruptcy, DMPs, DROs, and IVAs to individuals in the UK. Explore affordable debt help options today.