Your Debt Solution Step by Step              

             - buy yourself some time to re-organise your finances!

Achieving relief from your debt problems really can be this simple…

  • Contact us via the enquiry form, email or txt and we will get back to you 
  • Get to speak to an experienced person, who will be understanding
  • Meet with one of our experienced debt councillors
  • Discover the best solution to your debt problem, which you can implement yourself, or…
  • Work with us to manage your debt solution.

No more stress or sleepless nights worrying about your debts, creditor calls or bailiff visits.

 


 

Creditor Arrangement / Debt Management Plan

A Creditor Arrangement / Debt Management Plan is an informal agreement between you and your creditors. Contact us today to discover if a creditor arrangement / debt management plan is the best debt solution for you.

Advantages of a Creditor Arrangement/Debt Management Plans          
Disadvantages of a Creditor Arrangement/Debt Management Plans
Releases immediate pressure from creditorsInterest on the debt may not be frozen
Allows time for another debt solution to be proposedDebt repayment could go on for years
Reduces monthly expenditureInformal arrangement with no legal protection
Straight-forward and simple procedure to set upCreditors may return to aggressive tactics at any stage

  

 

Why choose Debt Care Consultants to manage your creditor arrangement / debt managment plan?

  • Creditors will, once they are aware of the involvement of Debt Care Consultants, stop calling you and call us instead.
  • It can be difficult to judge acceptable expenditure yourself
  • By our staff dealing with creditors daily can have a higher chance of terms being accepted.

Let Debt Care Consultants reduce the stress of debt and help you get back on track.

  

       

Debt Relief Order

A Debt Relief Order (DRO) is an alternative to bankruptcy for certain types of debt and is done via The Citizens Advice Bureau. If you have little disposable income, don’t own your own home, and cannot see an improvement in your financial situation in the near future, a DRO may be an available solution for you. Contact us today to see if a DRO is the best debt solution for you.

Advantages of a DRODisadvantages of a DRO
Debts written offOnly for debts less that £15,000
Usual period of 12 monthsCannot own a vehicle worth more than £1000
Creditors must stop chasing the debtCannot own items of value or have savings over £300
Cost £90 but monthly installments over 6 months availableMust have lived, owned a property or business in England or Wales for the last 3 years
No need to attend courtMust have £50 or less disposable income
DRO’s are not advertised in the local paper or London Gazette, however they
are recorded on the Insolvency Register for 15 months.
Cannont obtain credit over £500 without disclosing the DRO to the creditor
                                                                                                                                                
Credit rating affected

Your debt solution consultant will ensure this is the correct solution for you and refer to the Citizens Advice Bureau.


 

Bankruptcy

Bankruptcy no longer has the social stigma it once had and can be a viable debt solution option.

Advantages of bankruptcy                                    
Disadvantages of bankruptcy                                                              
Debts written off£700 cash payment required per person on the day
Usual period of 12 months or lessBankruptcy advertised in the press
Creditors must stop chasing the debtCannot be a Director of a limited company
Straight-forward procedureCannot hold certain positions within the community
No longer carries the stigma it used toIf you borrow £500 or more the creditor must be made aware of your bankruptcy
We will be with you throughout the procedureYour assets are in the hands of the Official Receiver

Detrimental affect to your credit rating

Why choose Debt Care Consultants to manage your bankruptcy?

Your consultant will assist you with the completion of all technical and legal court documents and guide you through the whole process.  Working closely with you, your consultant will help to minimise the effects of bankruptcy on all areas of your life outside of your financial situation.

 

 

 

IVA – Individual Voluntary Agreement

An Individual Voluntary Agreement (IVA) is a legally binding agreement between you and your creditors. With this government initiative, you must show your creditors that you can not afford your debts. Contact us today to discover if an IVA is the best debt solution for you.

Advantages of an IVA
Disadvantages of an IVA
Debt interest frozen
Regular monthly payments must be met for the term of the agreement
Some of your debt wiped off
Creditors have the right to vote for or against the proposal
Usually a set term of 60 months (5 years)
Any increase in equity in a property may have to be realised
Creditors MUST stop chasing the debt if the IVA is accepted by 75% of the monetary value of the debt

Court ratified procedure but no need to attend

Discreet debt solution

 

Why choose Debt Care Consultants to manage your IVA?

Your consultant will work with you to ensure an IVA is the right choice for your particular financial situation. An IVA that fails can have devastating consequences. Imagine being unable to meet creditors demands following review only to have the original value of your debt re-instated.

Let Debt Care Consultants reduce the stress of debt and help you get back on track.