Debt questions
We can answer your debt questions
The UK Insolvency Helpline is the UK's leading organisation in thee on debt management and IVA industry. We receive 1000’s of calls each week from people in debt. In this section we will cover IVAs, debt management and also answer some of the most commonly asked questions about debt.
EXPERT ADVICE ON ALL OF YOUR DEBT QUESTIONS
Frequently asked questions about credit and debt and bankruptcy.
- I have been made Bankrupt – what will happen to my home?
- What is debt management?
- What is an IVA?
- How can I repair my credit?
- What benefit am I entitled to?
- What is the Bankruptcy process?
- How much will it cost to make myself bankrupt?
- Where is the bankruptcy order made?
- What will happen at Court?
- Who deals with bankruptcy cases?
- What are the duties of a bankrupt?
- What are the effects of bankruptcy?
- How does bankruptcy affect your credit rating?
- How long does Bankruptcy last?
- What are the main changes of the new legislation( Enterprise Act 2002)?
- I have been living abroad but have large debts in the UK. How will this affect my credit rating in the UK and should I file for Bankruptcy?
There are so many other debt questions relating to money, debt and credit. Please feel free to call an advisor on 0800 074 6918 for a quick response to your debt questions
Debt Questions on the Individual Voluntary Arrangement - IVA
We have team specialising in IVA advice. An IVA is suitable if you in debt over £15,000. The IVA procedure can help you reduce your debt and become debt free in 60 months or less. For more information please look the IVA section.. If you're debts are serious one call our IVA unit can show you how to reduce your debts with an IVA
IVA Key Points:-
- Stop creditors harassment
- debt free in 60 months or less
- Suitable for debts over £15,000
- Legally binding
- Suitable for debts to 3 or more creditors
- You have to be in regular employment. We provide IVA advice and IVA information and we are insolvency practitioners, licensed to agree IVAs for our clients.
- An IVA is suitable if you suffer from; credit card debt, personal loan debt, store card debt or any other unsecured debt
- Main alternative to bankruptcy.
Debt Questions on Debt Management Plans – DMP
Are you struggling to pay credit cards, loans, store cards or catalogues? Would you like someone to help sort out your payments and talk to creditors for you? Would you like to be able to pay one affordable amount to all your creditors each month? If this sounds like you, a Debt Management Plan may be just the thing.
Key points of Debt Management Plans - DMP
- Reduction of debt
- Clearing of debt over time with assistance from the key creditors
- The Debt Management is plagued with fee charging companies so you must chose a FREE debt management company.
- Debt management plans are suitable for debts under £13,000
- They are not an quick to clear debt as an IVA
- They are good option for reducing debt quickly and in a control manner. It means people you owe money to will not contact you, your debts will be cleared in a specific time period and your monthly payments are reduced.
Debt Questions on Debt Consolidation
Debt consolidation entails taking out one loan to pay off many others. This is often done to secure a lower interest rate, secure a fixed interest rate or for the convenience of servicing only one loan. Debt consolidation can simply be from a number of unsecured loans into another unsecured loan, but more often it involves a secured loan against an a property.
Key Points of Debt consolidation
- Replaces multiple loans with a single loan
- Lower monthly payment
- Longer repayment period.
- They bring together all existing credit card debt, personal loan debt, store card debt or any other unsecured debt
Whether its debt management, IVA or just a simple debt advice question you require, please feel free to call one of our specialists. They will provide the correct advice to help you reduce your debts. Our free advice can be obtained 7 days a week our specialist debt management team can advise on a range of options designed to help reduce debts. Please feel free to call in 0800 074 6918.
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