Free Debt Advice Lincoln

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

Help with Debt: Free Debt Advice Lincoln

Welcome to our debt solutions website, where we offer tailored support to help you manage your debts effectively. We understand the challenges of seeking debt help, and we are here to guide you through the process. Our range of services, including Debt Management Plans and Individual Voluntary Arrangements, are designed to provide affordable solutions for your 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.

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.

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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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Bankruptcy is a legal process that allows individuals in the UK who are unable to repay their debts to have them written off. It is suitable for those with significant debts and no means to repay them. The process involves declaring bankruptcy, which can have both pros and cons. While it offers a fresh start, it can also impact credit scores, assets, and future borrowing. Seeking professional advice is crucial to understand the implications fully.

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An Individual Voluntary Arrangement (IVA) is a formal agreement to repay creditors a percentage of what you owe. It is suitable for those with unmanageable debts but can affect credit ratings. Monthly payments are arranged based on affordability, and debts can be written off after completion. Seeking professional advice is key to determining if an IVA is right for you.

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Debt Relief Orders (DROs) are a debt solution for individuals in the UK with low income and few assets. It involves a 12-month moratorium period during which debts are frozen. While it provides relief, there are limitations to the amount of debt that can be included. Seeking professional advice is recommended to assess eligibility and understand the process fully.

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A Debt Management Plan (DMP) is a way to manage debts by paying an affordable amount each month. It is suitable for those struggling with repayments but can have drawbacks like extended repayment periods. Creditors are involved in arranging payments, and interest and charges may be frozen. Seeking professional debt advice is essential to explore this debt solution further.

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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

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.

Free Debt Advice Lincoln offers tailored debt solutions in the UK. Explore bankruptcy, DMPs, DROs, and IVAs to manage debts effectively. Seek support without judgment.