Debt Solutions Warrington

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Help with Managing Debt in Warrington

Debt Solutions Warrington
Welcome to Debt Solutions Warrington, where we understand that seeking debt help can be overwhelming. We offer tailored debt solutions, including Debt Management Plans, Individual Voluntary Arrangements, Debt Relief Orders, and Bankruptcy. Our services focus on affordability and long-term financial stability. Explore your options with us 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.

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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 Warrington
Bankruptcy is a legal process in the UK that allows individuals struggling with unmanageable debts to have them written off. It is suitable for those who have explored other debt solutions but have not found a viable way to repay what they owe. The process involves declaring bankruptcy, which involves a fee and an application to the court. Once bankrupt, your assets may be used to repay creditors, and some debts may be written off. However, bankruptcy can have long-lasting effects on your credit score, making it difficult to borrow in the future. It is essential to seek professional advice before considering bankruptcy to understand how it may impact your finances. Remember, seeking help is a proactive step towards financial freedom.

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Debt Solutions Warrington
An Individual Voluntary Arrangement (IVA) is a formal agreement between you and your creditors to repay your debts over a set period. It is suitable for individuals in the UK struggling with unmanageable debts. An IVA can help you become debt-free and offers protection from creditor action. However, it may impact your credit rating and borrowing abilities. Seek professional advice to determine if an IVA is the right solution for your financial situation.

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Debt Solutions Warrington
A Debt Relief Order (DRO) is a debt solution available in the UK for individuals with low income and minimal assets. It is suitable for those who have debts they cannot repay within a reasonable time frame. The DRO application process involves working with an approved intermediary to assess your eligibility and submit the necessary paperwork to the Insolvency Service. Once a DRO is approved, your debts are frozen for 12 months, providing relief from creditor demands. While a DRO can offer a fresh start, it may affect your credit rating and ability to obtain credit in the future. Seeking professional advice is crucial to understand if a DRO is the right solution for your financial circumstances.

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Debt Solutions Warrington
A Debt Management Plan (DMP) is a debt solution that helps individuals in the UK repay their debts in a more manageable way. It is suitable for those who can afford to make reduced monthly payments towards their debts. A DMP involves negotiating payment terms with creditors to lower monthly payments and freeze interest and charges. While a DMP can help you regain control of your finances, it may also have an impact on your credit score and borrowing capabilities. It is crucial to seek professional debt advice 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 Warrington offers tailored debt solutions in Warrington, UK. Explore Debt Management Plans, Individual Voluntary Arrangements, Debt Relief Orders, and Bankruptcy options for managing debt effectively.