Debt Advice Help and Support

Call us in confidence now, freephone 0800 083 1433

From a mobile it may be cheaper to call 01257 476415

Debt Solutions

Debt Free Direct Help you to manage your debt.

Our advisors provide confidential
debt advice and could help you to:

  • Reduce your monthly repayments
  • Freeze interest on serious debt
  • End creditor chasing
Debt Free Direct
DEMSA OFT

Association of Business Recovery Professionals

Advice on the best debt solutions

 
  The most difficult part of addressing debt problems is working out what to do. Not only is Debt Free Direct the UK’s leading IVA provider, we also give you everything you need to choose the best solution for you. After all, no two debt problems are the same.

The top four

So, what are the four best ways to get back on the right track? Below are some at-a-glance ideas. But nothing can beat personal advice, so call us now to find out how we can help you with your own situation.

1. Individual Voluntary Arrangement (IVA) - An IVA uses the Insolvency Act to write off some of your debt and legally protect you against further action from creditors. You usually make just one, affordable monthly repayment. An IVA typically lasts for 5 years. Pros - Your monthly payments are affordable. Interest payments are frozen by law. Cons - Credit rating is effected and will be for a further year after the IVA. Default can result in bankruptcy.   2. Debt Management Plan (DMP) - For smaller debts, a DMP often works better than an IVA, although it is not legally binding. A firm such as Debt Free Direct talks to all of your creditors on your behalf and negotiates with them to accept lower monthly payments. Pros - Your monthly payments are affordable. Interest is sometimes frozen. Cons - Your credit rating is effected with many missed payments. It isn’t legally binding.

 

3. Bankruptcy - First, don’t panic! Many people avoid this with our help. Bankruptcy can sometimes be an answer, and it protects you from creditors. However, you may lose your assets including your house and some jobs can be put at risk. Pros - All unsecured debts are written off, except for student loans. You may be able to make a fresh start after twelve months depending on the conditions of your discharge. Cons - You may have to sell your home and other assets such as cars worth more than £500. You won’t be able to get credit during the period of bankruptcy.   4. Money Savings - It sounds obvious, but lower monthly spending means faster debt resolution. Debt Free Direct can help you find the best deals on utilities, insurance and phones even if you don’t use us for anything else.

7 days a week

Help with your debts is urgent, and we’re here for you 7 days a week. A friendly advisor can give you the advice and support that will help you take control of your debts.

Call us now on 0800 988 9359