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Specialist debt advice across the UK

The home of professional debt counsellors. All you need to make is one call for help on 0800 988 9323

Whatever

something

Call our Counsellors now on
0800 988 9323

Alternatively for a quick and informal discussion use our Live Chat service

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Testimonials

“After the first phone call we felt immense relief. They didn’t patronise us in any way. There’s no better feeling than knowing you are in control of your finances. We just knew that we’ve done the right thing.”
Mr and Mrs D & P Lincoln

Here is an example of how we can manage your debt

Creditor 1     £6,500
Creditor 2     £3,000
Creditor 3     £10,500

Total Debt     £20,000

Current Monthly Payments
£700

After a debt management plan

New Monthly Payments
£300


Get Debt Help from Market Leading Specialists

Moneyextra.com Counsellors understand that both short term and long term financial difficulties can be a stressful experience. We appreciate not only do the pressures of debt vary but so do people’s circumstances.

That’s why with one phone call we assess your situation by completing a review of your income and expenditure, after which we will advise the best solution to manage your finances. If you wish to take a solution we can even put you in touch with a Market Leading Specialist. But remember our advice is without obligation so there really is nothing to stop you from taking your first step! Call us today on:

0800 988 9323

Or alternatively you can complete the debt test below:

Try our Debt Test - speak to us to discuss your results!

Moneyextra

“Discover a reliable way to control your debt to avoid arrears”

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After performing your review and recommending a debt solution if you do tell us you wish to progress with that solution, we can point you in the direction of the following Market Leaders:

Our opening times:

Mon to Fri 8am to 9pm
Sat 9am to 5pm
Sun 10am to 4pm

Compare Debt Solutions

We know it can be difficult to understand the differences between debt solutions. The table below provides you with some key information about debt solutions:

Debt Solution Key Advantages Key Disadvantages
Bankruptcy
  • The period of time for you to repay your debt is limited.
  • Legal protection is provided in respect to your debts
  • You will have to pay £475 to petition for bankruptcy.
  • Your bankrupt status will be publicised in the local Press. It is also available if anyone wishes to request information about you.
  • You are subject to the control of the court.
  • You face the loss of your home and assets with exception of any assets deemed necessary to satisfy your working needs.
Debt Management Plan (DMP)
  • A DMP is an informal arrangement that avoids the need for formal insolvency procedures such as an IVA or bankruptcy.
  • By reaching agreement with your creditors a DMP may suspend actions against you such as CCJ's (County Court Judgments).
  • Creditors will, in many cases, freeze interest payments and your monthly debt repayments may be reduced.
  • The arrangements are informal. Your creditors can change their mind at any time.
  • Interest will usually continue to be charged on your debts particularly on your arrears which may be charged at higher rates than your original loan rate.
  • Your credit rating may still be harmed.
Individual Voluntary Arrangement (IVA)
  • Lasts for a fixed period (usually five years).
  • You pay a monthly payment that you can realistically afford for usually 60 months.
  • You are allowed to open a regular bank account with no overdraft facility so you are in control of your finances.
  • An IVA protects your home from legal action and unsecured creditors cannot force you to sell your home.
  • You are not allowed to borrow during your IVA.
  • If you fail to keep to the terms of the IVA your creditors can resume collection actions.
  • If you have equity in your house (i.e. it is worth more than you paid for it) you will have to make best endeavors to remortgage towards the end of your IVA and release funds to your creditors.
  • The IVA normally stays on your credit history for one year after your IVA ends. This may affect your credit rating although some lenders view your proven ability to make regular payments over 60 months favorably.
Debt Relief Order (DRO)
  • DROs can be completed in 12 months and your creditors can not contact you during this time.
  • All Debt Relief Orders have a basic requirement that someone shouldn't have more than £50 of disposable income, no spare income is available no monthly repayments are required.
  • All unsecured debt is written off (with the exception of some debts like student loans).
  • A Debt Relief Order will appear on the publicly available insolvency register.
  • A Debt Relief Order will result in bad credit being registered at all the major credit reference agencies. This will show on personal credit reports for a period of 6 years.
  • If you have debts over £15,000 or assets over £300 you will need to look into an alternative debt solution, such as an IVA or bankruptcy.

To discover the best solution to manage your finances based on your individual circumstances call us today on:

0800 988 9323

You may find additional information in the debt sections on the following websites useful reading:

Citizens Advice

Citizens Advice Bureau offers free, confidential, impartial and independent advice. Your local Citizens Advice Bureau is listed in the phone book.
www.citizensadvice.org.uk/cabdir.ihtml

The Community Legal Service

Aims to ensure that people in England and Wales find the right legal help easily and can be confident of the service they get.
www.clsdirect.org.uk

Advice UK

Represents about 900 independent advice agencies in the UK providing generic advice. Contact them to find the advice agency nearest to you.
www.adviceuk.org.uk

Citizens Advice Scotland

Citizens Advice Bureau Scotland offers free, confidential, impartial and independent advice. Your local CAS is listed in the phone book.
www.cas.org.uk

National Debtline

The helpline that provides free confidential and independent advice on how to deal with personal debts.
www.nationaldebtline.co.uk

Money Advice Scotland

Promoting high-quality, free, confidential, independent and impartial money (debt) advice.
www.moneyadvicescotland.org.uk

Directgov

Directgov brings together the widest range of public service information and services online. Produced by the Central Office of Information, Directgov provides information from across UK government departments.
www.direct.gov.uk/en/index.htm

Debt Free Direct

Debt Free Direct is the leading provider of confidential, specialist advice on serious problems. We can help you discover more about IVA and Debt Management and other financial solutions and advice.
http://www.debtfreedirect.co.uk/