Call UK Debt Problem.com for free advice and the best possible service
When you’ve got debt problems you need the right debt advice and where better to get it than UK Debt Problem.com.
We specialise in helping people who find themselves in difficult financial circumstances, often through no fault of their own. Although being in debt is very worrying, there are a number of debt solutions available to you, particularly if you take action as soon as you realise you have a problem.
Here at UK Debt Problem.com we offer free advice and we can arrange all of the main debt solutions for you if you wish.
Debt Consolidation Loans from UK Debt Problem.com
The first debt solution to consider is a debt consolidation loan. This is when you take out a loan to pay off all your existing unsecured debts.
Whilst it can be unsecured, a secured debt consolidation loan is often more popular if you have equity in your house, as it will generally attract a lower interest rate than an unsecured debt consolidation loan.
Please however think carefully before taking out any loan which is secured on your home, as your home could be repossessed if you do not keep up your repayments.
Debt Management Plans from UK Debt Problem.com
If debt consolidation loans aren’t suitable for you, a debt management plan is an alternative debt solution.
Debt management plans are where all your unsecured debts are consolidated into one affordable monthly payment, without you needing to take out further loans or debts.
Debt management plans are generally suitable for people with unsecured debts of up to £15,000 and all you have to do is make one affordable monthly payment to us and we then make payments on your behalf to all of your creditors.
We will also negotiate with your creditors to try to freeze or reduce any interest or charges on your debts, although of course we can’t guarantee this.
Once your debt management plan has been agreed there is also no need to worry about threatening calls or letters from your creditors, as we will take care of all creditor communication.
IVAs from UK Debt Problem.com
If you have more than £15,000 of unsecured debt, and are struggling to meet your repayments, then an IVA (or individual voluntary arrangement) could be the answer for you.
It is a less drastic alternative to going bankrupt and is a legally binding contract between you and your creditors.
Providing that you maintain your monthly payments your creditors cannot take any further legal action against you, your assets are protected, interest and charges on your debts are frozen and you will pay only what you can afford each month. These payments are set after calculating reasonable living expenses.
If you keep to the IVA repayment schedule which will be set for you, then after your IVA term is complete (typically 60 months), any remaining debts you owe are legally written off.
Whatever your debt problems call UK Debt Problem.com today
Whatever financial problems you are having call us today for free, impartial advice on which debt solution is right for you.
Your property will be protected within an IVA but you may be required to release all or part of any equity during the period of the arrangement.
Failure to complete the term of an IVA can result in bankruptcy.
(In Scotland, a PTD is the equivalent to an IVA.)