Do you qualify to write off debt?

  • Reduce your monthly payments by over 50%*
  • Freeze all interest and charges
  • Protection from Bailiffs and court action



Do you qualify to write off debt?

  • Reduce your monthly payments by over 50%*
  • Freeze all interest and charges
  • Protection from Bailiffs and court action

Types of debt you can
get help with

  • Credit Cards
  • Personal Loans
  • Pay Day Loans
  • Debt that has been passed to collection companies e.g Lowell, Moorcroft, Past Due Credit, Robinsons Way, BW Legal, Jacobs, 1st Credit
  • Overdrafts
  • Store Cards
  • Catalogues
  • Council Tax Arrears
  • Benefit Overpayment
  • Previous HP/Finance agreements where the goods have gone back
  • HMRC debt
  • Water company arrears
  • Utility companies (Gas/Electric)
  • Mobile phone bill debt

Pauline's Debt

Pay Day Loan
£800
Catalogue
£1500
Overdraft
£500
Old mobile phone contract
£300
Credit Card
£5,500
Total Debt
£8,600

Before an IVA

Monthly payment to all of her creditors

£310

After an IVA

Monthly payment to all of her creditors

£85

Debt Written Off - £3,500
Savings made per month - £225

Case Study #1

Pauline (by her own admission had buried her head in the sand as her debts had been taken out years ago when she was younger and carefree and she wasn’t expecting to still be chased for payment. She was struggling to be able to pay even half of what her creditors wanted her to pay)

Stanley's Debt

Credit Card 1
£3,500
Council Tax Arrears
£800
Bank Loan
£5,500
Store Card
£500
Credit Card 2
£6,000
Old Finance (Car Returned)
£3,300
Water Arrears
£900
Total Debt
£20,700

Before an IVA

Monthly payment to all of his creditors

£730

After an IVA

Monthly payment to all of her creditors in the IVA

£180

Debt Written Off - £9,900
Savings made per month - £550

Case Study #2

Stanley (lost his high paid job and went into any employment he could get to be able to pay his bills. Unfortunately, the pay was a lot less which meant he was unable to make his contracted payments to his creditors).

INDIVIDUAL VOLUNTARY ARRANGEMENT (IVA)

Legal Protection – The IVA offers you legal protection from your included creditors including Bailiffs.

Debt Written Off – Up to 75% of your debt can be written off.*

Interest and charges on included debts will be frozen.

One monthly affordable payment. The payment you make into an IVA is based on your income and expenditure, so should always be affordable to you.

There are no upfront fees

DEBT MANAGEMENT PLAN (DMP)

A Debt Management Plan enables you to make one single affordable monthly payment to all of your included debts. This payment is then shared amongst your creditors.

Interest and charges on included debts may be frozen.

Debt Management Plans are flexible, informal solutions and are not legally binding, so should your circumstances improve, you can leave a Plan at any time.

Your Debt Management Plan provider will deal with your creditors on your behalf.

 

OTHER DEBT SOLUTIONS

  • Protected Trust Deed (PTD) (Scottish Residents only)
  • Debt Arrangement Scheme (DAS) (Scottish Residents only)
  • Bankruptcy
  • Minimal Asset Process (MAP) (Scottish Residents only)
  • Debt Relief Order (DRO)

Ready To Find Out More?

3 Easy Steps

Consult with a debt advisor

Your consultation will take no less than 10 minutes. This is where you can explain your situation to the Adviser. Who your debt is with, the difficulties you have been facing and your personal situation.

Solutions available to you

Once the advisor fully understands your situation they will present all of the options available to you. They will go through every option that is available to you and explain how each debt solution can affect you.

YOU DECIDE HOW TO PROCEED

Then once you know the options that are available to you, you can make the decision on how you would like to proceed.

 

 

* There are some debt solutions where you can write off up to 75% of your overall unsecured debt. This is dependent on your personal circumstances and the ability to make your repayments within the terms set by your creditors. Many factors will be taken in to consideration to assess whether the solution is the right one for you. All solutions are subject to acceptance and eligibility.
Our partners are all authorised and regulated by the Financial Conduct Authority and comply with their rules and principles of business.  A Debt Adviser will contact you by telephone to discuss your situation and options available to you in more detail. It is important that to the best of your knowledge you provide accurate information as the advice you will be given by them will be based on the information that you have provided.. debt-free.org.uk does not give advice. On completion of our form, we will use the contact details that you have given to us on the form to introduce you to one of our authorised debt solutions partners and we may receive compensation from our partners for this introduction. None of the material contained in this website is to be relied upon as a statement or representation of fact.  We are not giving advice or recommendation by virtue of having provided information on this website.  Under no circumstances will debt-free.org.uk and its employees, connected parties or qualified third party associates accept liability for any decision made or action undertaken as part of reliance to the information contained on this website. Your use of any information or materials on this website is entirely at your own risk. It shall be your own responsibility to ensure that any products, services or information available through this website meet your personal requirements. Further conditions will apply.