Below you’ll find all of the debt solutions services we offer, and you can find out how each one works.
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No matter how worried you are, we can help. So get in touch if you’re struggling with any of these
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If you’re struggling with debt, there are a range of solutions available. We can advise you on all of them.
A debt management plan (DMP) is an informal agreement with your creditors giving you longer to pay back non-priority debts like credit cards, buy now pay later and personal loans.
An individual voluntary arrangement (IVA) is a legally binding agreement for you to pay back your non-priority debts at a rate you can afford. It usually lasts five or six years. Afterwards, any remaining debt is written off.
A debt relief order (DRO) may be suitable if you owe £30,000 or less and don’t have much spare income or own anything of value. A DRO lasts for a year. If your finances don’t improve during that time, your debts are written off.
Bankruptcy deals with debts you can’t pay, if the value of your possessions is less than the amount you owe.
Debt consolidation involves using a loan to pay off your other debts. If you've got money worries, debt help may be a better option than borrowing more.
Some debt solutions are free. Some aren’t. Most are likely to impact your credit score. We can talk you through everything you need to know.
If you’re struggling to pay your debts, it’s a good idea to get debt advice. We can talk you through everything from better budgeting to formal debt solutions.
You may be surprised at the range of help available. We’ll explain your options and help you decide on the best way forward. There’s no charge for our advice.
We’ll look at the money you have coming in and your living expenses. From there, we’ll be able to work out what help is most appropriate.
It may be that you’re not claiming all the benefits you’re entitled to. Or a formal debt solution, such as an individual voluntary arrangement or a debt relief order, may be more suitable.
We’ll take into account your immediate money worries and your long-term financial wellbeing before making a recommendation.
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18 Aug 2023
A new study highlights people aren't confident in making financial decisions. Worryingly, 17% wrongly believed seeking free debt advice would impact their credit score - it won't. Here we clear up some myths and roundup what extra money support is available if you're struggling
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20 Jul 2023
With just days to go until Consumer Duty comes into effect, we take a look at the changes and what it’ll means for you as a customer
10 Jul 2023
We were invited to speak at two big events last week to help highlight the extra support some customers may need when they find themselves struggling with problem debt
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Some of our advisers recently took part in Samaritans resilience training to support their own mental wellbeing wellbeing
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