Canterbury - Debt Advice Service

IVA / bankruptcy debt advice Canterbury

Please note that The UK Insolvency Helpline Debt Advice Service is a national organisation covering the entire UK. Please note that the service operates from offices in London and a national telephone advice centre in the north of England. The service does not operate a physical office or a seperate team in each of the city and regions listed on this page.

Canterbury is a city in eastern Kent in the South East region of England. It lies on the River Stour, and along with the towns of Whitstable and Herne Bay is in the local government district of the City of Canterbury.

IVA / bankruptcy debt advice Canterbury If you are a local resident of Canterbury who need debt advice you can contact The UK Insolvency Helpline on 0800 074 6918 for confidential, non-judgemental, advice. The team covering Canterbury also give non-judgemental and confidential advice to local residents about housing and benefit related problems.

It is estimated that as many as 10,000 people from Canterbury will call The UK Insolvency Helpline over the next 18 months. This is based on research showing a million people in the UK are at risk of getting into problem debt because of the state of the economy - and many of them won’t realise how serious, and stressful, the situation can become if it isn’t kept under control.

Advice to residents of Canterbury

To contact an advisor call 0800 074 6918. Alternatively complete an online enquiry form and an advisor will call you back at the time that you specify.

The best starting point is to sit down with a piece of paper and a calculator, and add up all of the amounts owed, including credit card bills, mortgage or rent arrears, short term loans, etc; but don't panic as a member of the debt advice team can help with the budget process if you need them to.

The next stage of escaping 'bad debt' is to take back financial control - which means cutting spending, and putting a repayment plan in place. One of the best starting points is to create a set of priorities in terms of how debt on cards and loans will be repaid; in most cases it is best to pay off credit cards first, starting with those of the highest APR. When behind with some payments, it may be necessary to renegotiate payment terms with some of the companies money is owed to.

Methods of dealing with debt most commonly used in Canterbury

The majority of people in Canterbury who face debt problems have not got there because they have an extravagant lifestyle. They are there because of a change in circumstances: redundancy, a breakdown in a relationship, illness or simply because they've been living for some time on a very low income. The following debt solutions are the ones most commonly prescribed to resident of Canterbury.

IVA – Individual Voluntary Arrangement – If you have enough money left over after paying your priority creditors and essential expenses, you may be able to arrange an Individual Voluntary Arrangement (IVA).

An IVA is a legal agreement with creditors (usually non-priority creditors) to repay your debts. This could either be in part or in full. The arrangement is negotiated, written up and checked regularly by an independent solicitor or accountant called an Insolvency Practitioner. Not all the creditors have to agree to an IVA as long as the creditors to whom you owe 75% of your debt agree. Individual voluntary arrangements (IVAs) are proving an even better alternative to bankruptcy. They allow consumers to freeze their debts, usually keep their houses and pay off a proportion of what they owed over five years.

To apply for an IVA please click HERE

DMP – Debt Management Plan - If you have enough money left over after paying your priority creditors and essential expenses, you may be able to arrange a debt management plan. A debt management plan is an arrangement with your creditors to pay back the debt by regular installments. Instead of you speaking to your creditors yourself to arrange the plan, a debt management organisation does it for you. To apply for an Debt Management Plan please click HERE or call 0800 074 6918.

Bankruptcy – If you have no money left over in your budget, or you have so little that it will take many years for you to re-pay your debts, you may want to look at bankruptcy as an option.

Going bankrupt can take the pressure of creditors away from you. You are allowed to keep certain things, like household goods and a reasonable amount to live on. When the bankruptcy order is over, you can make a fresh start and the money you owe is usually written off. In many cases, this can be after only one year. Creditors have to stop most types of court action to get their money back following a bankruptcy order (but in some cases the bailiffs may still be able to take your belongings away).

There are disadvantages to going bankrupt, such as:-

It will cost you money (up to £500) to go bankrupt
If you own your own home, it will usually have to be sold if there is equity in it
Some of your possessions might have to be sold, for example, you will usually lose your car and any luxury items you own
If you own a business, it is more than likely that your business will be closed down and your employees sacked
You can't keep your bankruptcy private. A list of bankrupt people is published on the internet and your case could also be published in your local newspaper
Even when you are no longer bankrupt, you could have another order, called a bankruptcy restrictions order made against you. These orders can be made if, for example, you took on debts knowing that you had no hope of paying them back. A bankruptcy restrictions order can last for 15 years and will make your financial affairs very restricted
Even when you are no longer bankrupt, there are some debts such as court fines and student loans that will never be written off.

Advice Centres in Canterbury and Herne Bay in Kent

Advice Bureau
3 Westgate Hall Road
Canterbury
CT1
Advice Bureau
Herne Bay
High Street
Herne Bay
CT6
Advice Bureau
Whitstable outreach
Oxford St
Whitstable
CT5

If you live in the Canterbury area and are facing severe financial difficulties The UK Insolvency Helpline may be able to help you. To contact an advisor call 0800 074 6918. Alternatively complete an online enquiry form and an advisor will call you back at the time that you specify.

Disclaimer

Please note that in line with OFT debt management guidance, The UK Insolvency Helpline Debt Advice Service does not provide nor administer debt solutions itself. Instead the service will put you in touch with a licensed professional to arrange the debt solution. Please also note that unlike most licensed insolvency practitioners, the licensed insolvency practitioners that consumers are referred or forwarded by The UK Insolvency Helpline for an IVA (Individual Voluntary Arrangement) to do not charge any upfront fees. This fee structure means that the monthly payments consumers make into the IVA will cover the payments to the creditors as well as the licensed insolvency practitioner's fee for preparing, nominating and supervising the IVA. Finally, please note that where consumers are referred for debt management plans these services attract a fee.

This is a list of offical cities within the United Kingdom covered by The UK Insolvency Helpline.

List of counties covered by The UK Insolvency Helpline

Avon
Bedfordshire
Berkshire
Borders
Buckinghamshire
Cambridgeshire
Central
Cheshire
Cleveland
Clwyd
Cornwall
County Antrim
County Armagh
County Down
County Fermangh
County Londonderry
County Tyrone
Cumbria
Derbyshire
Devon
Dorset
Dumfries and Galloway
Durham
Dyfed
East Sussex
Essex
Fife
Gloucestershire
Grampian
Greater Manchester
Gwent
Gwynedd County
Hampshire
Herefordshire
Hertfordshire
Highlands and Islands
Humberside
Isle of Wight
Kent
Lancashire
Leicestershire
Lincolnshire
Lothian
Merseyside
Mid Glamorgan
Norfolk
North Yorkshire
Northamptonshire
Northumberland
Nottinghamshire
Oxfordshire
Powys
Rutland
Shropshire
Somerset
South Glamorgan
South Yorkshire
Staffordshire
Strathclyde
Suffolk
Surrey
Tayside
Tyne and Wear
Warwickshire
West Glamorgan
West Midlands
West Sussex
West Yorkshire
Wiltshire
Worcestershire

ENQUIRY FORM

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IVA's

The IVA Guide
The UK Insolvency Helpline has put together an IVA Guide based on the enquiries and questions that we receive at our helpline offices.

In the guide we cover such subjects as IVA Approval, early settlment of your IVA, missed IVA payments, IVA failure, additional debt claims and much more.
[click here for IVA Guide]

What is an IVA?
The IVA is an extremely powerful tool enabling you to clear your debt and return to a clean financial bill of health. Visit The UK Insolvency Helpline's Guide to Individual Voluntary Arrangements (IVAs).
[more...]

The UK Insolvency Helpline offers confidential and non-judgmental advice and will put you in touch with a licensed professional to arrange your debt solution. Please note that failure to adhere to a debt solution could result in further financial problems. Please note that whilst initial advice is free, fees may be payable depending on the solution provided. Please note that your home may be repossessed if you do not keep up with repayments on a mortgage or secured loan.

Canterbury - Debt Advice Service

IVA / bankruptcy debt advice Canterbury

Advice to residents of Canterbury

Methods of dealing with debt most commonly used in Canterbury

To apply for an IVA please click HERE

There are disadvantages to going bankrupt, such as:-

Advice Centres in Canterbury and Herne Bay in Kent

Disclaimer

ENQUIRY FORM

FREEPHONE DEBTLINE

DANGER

IVA's

BANKRUPTCY

RECLAIM UNFAIR BANK CHARGES

CREDIT REPAIR

MORTGAGE ADVICE

COMPANY DIRECTORS

DEBT ADVICE FACTSHEETS

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