The advantages of a debt solution in your life:
How much debt do you have?
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You are not alone
In the United Kingdom, more than eight million people are experiencing financial troubles. We understand how difficult it is to deal with this. It can be daunting at times, but there are solutions.
You can establish plans to settle your debts if you owe money to others (your ‘creditors’). Your alternatives are limited by your financial situation and assets.
Financial benefits of a debt solution:
Debts that are unaffordable should be written off.
One minimal monthly payment.
All interest and charges should be frozen.
There are no upfront charges.
Stop receiving obnoxious phone calls from creditors.
We can assist you in staying out of bankruptcy.
Paying off your debts.
You can pay your debts in instalments by setting up:
A Debt Management Plan is a financial company-managed agreement with your creditors.
If you've had a county court judgement (CCJ) or a High Court judgement (HCJ) against you for debts under £5,000, you can get an Administration Order.
An Individual Voluntary Arrangement (IVA) is a legal binding agreement that is overseen by a professional insolvency practitioner.
What we do to help
If you have a financial problem, the Bailiff Advice Centre will assist you to understand your alternatives and offer a debt solution that is appropriate for your case. Our goal is to assist you in regaining financial control by:
Reducing monthly payments to a level that is both reasonable and economical.
Stopping your creditors from pursuing legal action against you.
Defending valuable assets such as your home.
Our debt hotline advisors are standing by to assist you if you are having trouble keeping up with credit card, loan, or debt consolidation repayments, have arrears, or are facing legal action from lenders as a result of being unable to repay your unsecured or secured debts.
The most essential thing to remember is that there is no one-size-fits-all solution to debt — just the best one for your specific situation. Whether you owe £1,000 or £50,000, own or rent your house, and are now working or unemployed, all of these factors influence which solution is best for you.
Everyone’s situation is unique, and for some, our involvement may be as simple as assisting them in understanding their rights or teaching them how to communicate successfully with their creditors. Others may benefit from more formal debt remedies such as an IVA, Debt Relief Order, or Bankruptcy. That is why it is critical to seek out unbiased guidance.
Whatever you decide, maintain paying your priority bills, such as your mortgage, rent, utilities, Magistrates Court penalties, and Council Tax, on time. Failure to keep up with these payments has far more serious repercussions than failing to keep up with unsecured debt obligations.