Debt Solutions Lancashire

Speak to an expert to discover all the debt solutions available to you.

Safe, secure & confidential

Advice is free but fees and disadvantages may apply if you enter a debt help solution.
May not be suitable for all.

Help also available at MoneyHelper

Debt Solutions Lancashire: Expert Help with Debt Challenges

Debt Solutions Lancashire: Welcome to Your Path to Financial Freedom. At Debt Solutions Lancashire, we understand the stress and uncertainty that come with debt problems. Our tailored solutions, including Debt Management Plans, Individual Voluntary Arrangements, Debt Relief Orders, and Bankruptcy, aim to help you regain control of your finances.

Whether you’re struggling with mounting debts or facing creditor pressure, we are here to support you without judgment. Our experienced team can explore the best debt solutions for your circumstances, focusing on affordability and long-term financial stability. Take the first step towards a debt-free future by seeking professional advice from Debt Solutions Lancashire today.

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.

Check if you qualify

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.

Check if you qualify

What debt are you most concerned about?

Credit Cards

Over Drafts

Unsecured Loans

Store Cards

Personal Loans

Utility Bills

Business Debt

Catalogues

Check if you qualify

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.

Check if you qualify

Debt Solutions Lancashire: Considering Bankruptcy in the UK? Bankruptcy can provide a fresh start to those struggling with overwhelming debts in the UK. It is a legal process that involves declaring yourself unable to repay your debts, resulting in the discharge of your liabilities.

Bankruptcy is suitable for individuals who have explored other debt solutions without success and have debts they cannot afford to repay. The process involves submitting a bankruptcy petition to the court, which then appoints a trustee to manage your assets and oversee the distribution of funds to creditors.

While bankruptcy offers relief from unmanageable debt, it comes with consequences. Your credit score will be significantly impacted, making it challenging to secure credit in the future. Assets such as your home and car may be at risk, and restrictions on your financial activities will apply.

If you are considering bankruptcy, it is crucial to seek professional advice from experts in UK debt solutions. They can guide you through the process, explain the implications, and support you in making informed decisions about your financial future.

Check if you qualify

Debt Solutions Lancashire: Navigating Individual Voluntary Arrangements in the UK. An Individual Voluntary Arrangement (IVA) is a formal agreement between you and your creditors, enabling you to repay your debts over a fixed period. It offers a structured approach to debt repayment, tailored to your financial situation.

An IVA is suitable for individuals with significant debts who can afford monthly repayments but need a manageable repayment plan. It allows you to avoid bankruptcy, protect your assets, and work towards clearing your debts within a set timeframe.

While an IVA provides a clear path to debt resolution, it may impact your credit rating and require strict adherence to the repayment schedule. Assets may be at risk if repayments are not maintained.

If you are considering an Individual Voluntary Arrangement, seek professional advice from experts in UK debt solutions. They can assess your eligibility, explain the process in detail, and help you determine if an IVA is the right solution for your financial situation.

Check if you qualify

Debt Solutions Lancashire: Exploring Debt Relief Orders in the UK. A Debt Relief Order (DRO) is a formal insolvency procedure designed for individuals with low income, minimal assets, and debts they cannot repay. It provides a fresh start by freezing debts for a year, after which they are typically written off.

A DRO is suitable for those with debts under a certain threshold, limited assets, and surplus income of £50 or less per month. The application process involves seeking approval from an official receiver, who will assess your eligibility and handle the arrangement with creditors.

While a DRO offers relief from unaffordable debts, it comes with restrictions on your financial activities and may affect your credit rating. It is essential to consider the implications carefully before proceeding.

If you are unsure about applying for a Debt Relief Order, consult professionals specializing in UK debt solutions. They can provide personalized advice, explain the process in detail, and support you in making the right decision for your financial situation.

Check if you qualify

Debt Solutions Lancashire: Understanding Debt Management Plans in the UK. A Debt Management Plan (DMP) is a flexible solution for individuals struggling to keep up with multiple debt repayments. It involves consolidating your debts into a single affordable monthly payment, negotiated with your creditors based on what you can afford.

A DMP is suitable for those with unsecured debts who can make regular payments but need a structured repayment plan. It allows you to manage your debts more effectively, avoid creditor harassment, and gradually work towards becoming debt-free.

While a DMP offers relief and peace of mind, it may extend the time taken to repay your debts and impact your credit rating. Interest and charges may also continue to accrue, affecting the total amount repaid.

If you are considering a Debt Management Plan, seek professional advice from debt solution experts in the UK. They can assess your situation, recommend the most suitable option, and provide ongoing support throughout the process.

Check if you qualify

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

Check if you qualify

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 Lancashire: Providing tailored debt solutions in Lancashire to help individuals regain control of their finances. Explore Debt Management Plans, IVAs, DROs, and bankruptcy options today.