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Are You £5,000Or More In Debt?
Are You £5k Or More In Debt?
If so, you may be eligible to reduce your monthly payments and write off unaffordable debts
Check If I Qualify Safe, Secure & Confidential
Reduce Repayments
Reduce monthly repayments to an affordable level
One Easy Payment
Make one monthly payment for all of your debts
Freeze Interest
Save thousands in interest and charges on your debt
Avoid Bankruptcy
Bankruptcy should be a last resort - learn your options
reduce
monthly payments
freeze interest & Charges
avoid
bank- ruptcy
combine all debts into
1
mONTHLYpayment
Know Your Options
Debt Management Plan
Have just one monthly payment as little as £75 for all your debts, paying only what you can afford.
Your credit file may be affected for up to 6 years. A DMP cannot help with secured or current household debts such as gas or water. It will last until the debts are repaid in full and it is not legally binding.
Equity Release
Equity release lets you access tax-free cash from your home to pay down debt, taken either as a lump sum or in smaller payments. Usually for people 55 and older, and there may be set-up fees and early repayment charges.
It is generally expensive and may reduce your ability to save enough money for retirement.
Debt Relief Order
A DRO can write off qualifying debts after 12 months if you have low income and minimal assets. It costs £90 to apply.
Your details are added to the insolvency register, your credit file may be affected for up to 6 years, and you will face restrictions during the DRO period. Strict eligibility rules apply.
Individual Voluntary Arrangement (IVA)
An IVA can help you write off up to 75% of your debt, stop collection activity, and combine debts into one monthly payment. Your details will be added to the insolvency register, and your credit may be affected for up to 6 years.
Homeowners may need to release equity, and failing to meet IVA terms could result in bankruptcy.
Bankruptcy
Bankruptcy can provide a fresh start and help you become debt-free in 12 months, but you may need to give up assets such as your home or car, and bank accounts may be frozen.
Income above basic living needs may go to creditors, and bankruptcy can affect employment and future access to credit.