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Debt Solutions Luton

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

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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 Solutions Luton

Debt Solutions Luton
Welcome to Debt Solutions Luton, where we offer tailored debt solutions to individuals in the UK. We understand that seeking debt help can be daunting, but our range of services, including Debt Management Plans and Individual Voluntary Arrangements, are designed to provide affordable and sustainable solutions. Explore your options with us and take the first step towards financial stability 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 Solutions Luton
Bankruptcy is a legal process that can help individuals in the UK deal with overwhelming debts they cannot repay. It is suitable for those with unmanageable debt and no other viable options. The process involves declaring bankruptcy, which freezes your debts and protects you from further action by creditors. While it can offer a fresh start, there are drawbacks to consider, such as the impact on your credit score, potential loss of assets, and restrictions on future borrowing. Seeking professional advice is crucial to understanding if bankruptcy is the right solution for you.

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Debt Solutions Luton
An Individual Voluntary Arrangement (IVA) is a formal agreement that helps individuals in the UK manage their debts. It is suitable for those with unmanageable debt looking for a structured repayment plan. While an IVA can offer relief by writing off a portion of your debts, it may affect your credit rating and borrowing capabilities. Seeking advice from a debt professional is crucial to determine if an IVA is the right choice for your financial situation.

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Debt Solutions Luton
Debt Relief Orders (DROs) are a viable option for individuals in the UK facing severe financial difficulty. A DRO freezes your debts for 12 months, after which they may be written off if your situation has not improved. While it can provide relief from debt stress, there are limitations to consider, such as eligibility criteria and restrictions on borrowing. Seeking professional advice is key to understanding if a DRO is the best solution for your circumstances.

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Debt Solutions Luton
A Debt Management Plan (DMP) is a practical solution for individuals in the UK struggling with debt. It involves setting up a manageable repayment plan with creditors based on what you can afford. While a DMP can provide relief by reducing monthly payments, it may take longer to clear debts and can impact your credit score. However, it offers the benefit of avoiding legal action and potential bankruptcy. Seeking advice from a debt professional is essential to determine if a DMP is the right choice for your 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 Luton: Providing tailored debt solutions in Luton, UK. Explore bankruptcy, DMPs, DROs, and IVAs to find the right solution for your financial stability.