Free Debt Advice Cardiff
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
Expert Debt Help Cardiff
Free Debt Advice Cardiff
Welcome to Free Debt Advice Cardiff! We understand that seeking help with debt can feel overwhelming, and we are here to support you on your journey to financial stability. Our range of services, including Debt Management Plans, Individual Voluntary Arrangements, Debt Relief Orders, and Bankruptcy, are tailored to your unique circumstances.
We focus on affordability and long-term financial health, ensuring that you have the tools to manage and overcome your debts. Explore your options with us and take the first step towards a brighter financial future. Seek professional advice without pressure or judgment, knowing that we are here to help.
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
Advantages of a DMP
Disadvantages of a DMP
Free Debt Advice Cardiff
Bankruptcy can be a daunting but necessary debt solution for individuals facing overwhelming financial challenges in the UK. It is a legal process that involves declaring oneself unable to repay debts, offering a fresh start. Bankruptcy is suitable for those with unmanageable debts and no realistic way to repay them.
During the bankruptcy process, an appointed trustee will manage your assets to repay creditors, and after a year, you are usually discharged from most debts. While bankruptcy offers relief from unmanageable debts, it can impact credit scores, restrict access to credit, and may require the sale of assets.
If considering bankruptcy, seek professional advice to understand the implications fully. Our team is here to offer guidance and support tailored to your situation, without judgment.
Free Debt Advice Cardiff
An Individual Voluntary Arrangement (IVA) is a formal alternative to bankruptcy for individuals in the UK struggling with unmanageable debts. It involves making affordable monthly payments to creditors over a set period, typically five years, after which remaining debts are written off. An IVA is suitable for those with a stable income but unable to repay debts in full.
While an IVA offers a way to clear debts, it can impact credit ratings and borrowing. Seeking professional debt advice is crucial to determine if an IVA aligns with your financial goals. Our team is here to provide guidance and support throughout the IVA process, empowering you to take control of your finances.
Free Debt Advice Cardiff
Debt Relief Orders (DROs) offer a fresh start to individuals struggling with low income and minimal assets in the UK. A DRO is a form of insolvency that freezes debts for a year, after which they are typically written off. It is suitable for those with debts under a set threshold and little ability to repay.
Applying for a DRO involves meeting specific eligibility criteria and can provide relief from overwhelming debts. While a DRO offers a way out of debt, it can impact credit scores and limit access to credit.
Seek professional advice to navigate the DRO application process and understand how it may benefit your financial situation. Our team is here to offer support and guidance without judgment.
Free Debt Advice Cardiff
A Debt Management Plan (DMP) is a flexible solution for individuals struggling with multiple debts in the UK. It involves consolidating debts into a single affordable monthly payment, negotiated with creditors based on your financial situation. A DMP is suitable for those with regular income but unable to meet existing debt repayments.
Through a DMP, interest and charges may be frozen, and creditors are typically more cooperative. However, it may impact credit scores and borrowing capabilities. Seeking professional debt advice is crucial to explore if a DMP is the right fit for you.
Our team is here to provide support and guidance on setting up a DMP tailored to your financial circumstances, empowering you to take control of your debts.
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
Example case completed in 2023. Repayment calculated using income and expenditure data. Monthly payments and write off percentages are based on individual circumstances.
Free Debt Advice Cardiff, providing tailored debt solutions in Cardiff, UK. Explore options like Debt Management Plans, IVAs, and Bankruptcy with expert guidance.