Advice on a Range of Debt Solutions
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Help With Debt Solutions
Choose the right solution for you.
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- Advice on a range of solutions
- Tailored to your own needs
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Debt Solutions
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Debt Solutions you can rely on
Financial help is available in the form of five main debt solutions. If you have serious financial problems and owe over £12,000, the three most common debt solutions are an IVA (Individual Voluntary Arrangement), Debt Management Plan and, as a last resort, Bankruptcy.
Call Debt Free Direct on 0800 083 1433 for confidential advice on which debt solution might be most appropriate for you. From a mobile it may be cheaper to call 01257 476415.
An IVA is often the fairest way forward for both you and your creditors if you owe more than £12,000 and are struggling to meet your repayments.
A Re-mortgage or a Consolidation Loan could also be an option if an IVA is not suitable. Talk to us to find out more about each of the options.
Video - Debt Solutions Guide
A short video guide designed to help you choose the right solution from the many options available.
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Debt Solutions
Call us now on- 0800 083 1433 to find out more. From a mobile it may be cheaper to call 01257 476415.
Choosing The Best Debt Solutions
When you call Debt Free Direct you’ll be able to speak directly with one of our fully trained debt solutions advisors. Using our Best Advice Model, we’ll make a full assessment of your situation in complete confidence and then recommend possible debt solutions which could help you overcome your financial problems.
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Addressing Serious Debt
If your situation is serious enough, we may well recommend an IVA as an option. If an IVA is not suitable, we’ll recommend the other appropriate options worth considering. We’ll give you all the advice and debt solutions you need so that you understand the choices open to you.
Call us now on 0800 083 1433. From a mobile it may be cheaper to call 01257 476415.
Debt Relief Order (DRO)
This is an order granted by an official receiver to help insolvent individuals address their debt problems.
What sorts of people apply for a DRO?
You can apply online through an approved intermediary if you meet the following criteria,
- owe less than £15,000
- do not own or have an interest in any property
- unable to meet debt payments and have a monthly surplus income less than £50
- assets do not exceed £300 (including any pension contributions made)
- vehicle worth less than £1,000
Advantages
- Debts written off after one year.
- Creditors cannot take further action without courts permission.
- Fee of £90 is less than the cost of petitioning for bankruptcy.
Disadvantages
- Not eligible if you are a homeowner even if there is no equity.
- As with bankruptcy your employment could be affected.
- Certain debts will not be written off (e.g. student loans and fines).
County Court Administration Order (CCAO)
A County Court Administration Order is made by the court under which you must make payments from your income directly to the court. The court then distribute funds between your creditors on your behalf.
What sorts of people apply for a CCAO?
You can apply to the court for an order if you owe no more than £5,000 to at least two creditors and you have had a court judgement entered against you (e.g. CCJ).
Advantages
- No creditors listed on the order can take further action without the consent of the court.
- The court will distribute payments for you.
- Interest and charges are stopped.
- If your circumstances worsen you can apply to the court to make reduced payments.
Disadvantages
- Creditors can object and be left out of the order.
- If you don’t keep up with repayments the order can be withdrawn and creditors can pursue you again.
- If the court makes an attachment of earnings order to collect payments, your employer will find out about your money troubles.
For more information please contact your local County Court.
Need More Information On Our Debt Solutions?
Debt solutions by their very nature are a way of taking an individual from a position of serious debt to get out of debt problems and to get in control of their finances. Working out what the best option for you is a different matter and something we have been doing for over a decade.
We pride ourselves in our approach to finding the right debt solution for every one of our clients, which is honest, confidential and always the ‘best advice’ based on your individual circumstances. It is this approach of guiding people who need debt help that has enabled us to grow to become a brand synonymous with helping people to control debt.
The debt solutions we are able to provide access to are as you would expect, numerous, with IVAs (Individual Voluntary Arrangements) often being a good debt solution in certain circumstances. Debt Free Direct is in fact the UK’s number 1 IVA provider.
If you need to discuss debt solutions and want advice from a company you can trust, call our Debt Solutions Hotline.