Welcome to Debt Services Free Help and Advice

Debt Services can help with all your Debt problems providing Debt Counselling and Debt Solutions. If you have a debt problem, the sooner you deal with it the better.

Debt Services are many and varied and will depend to a large extent on your specific debt problem. Whether your debts are relatively small and manageable or large and spiralling out of control, debtservices.co.uk can help you decide which specific course of action is best for your personal situation.

Listed below are numerous courses of action, together with appropriate organisations who may be able to help you.

Debt Problems

If you have debt problems, you need help. The worst thing you can do is to bury your head in the sand and think that your Debt Problems will go away by themselves. They won't. If you have Debt Problems and you do nothing about them, they will only get worse. May organisations exist to help you, including the likes of Debt Free Direct who offer free of charge, confidential, independent and impartial advice concerning all debt problems.

Debt Solutions

The solution to your debt problems will very much depend on the extent of your debt. If your debts exceed £15,000 the debt solutions include an IVA (Individual Voluntary Arrangement), a Debt Management Scheme, or the ultimate debt solution, bankruptcy.

Debt Remedies

Debt Remedies can include:

  • IVA's
  • Debt Management
  • Bankruptcy
  • Debt Consolidation
  • Debt Counselling
  • Debt Help
  • Debt Advice
  • Remortgaging

IVA's

An Individual Voluntary Arrangement is ideally suited to those in regular employment who wish to avoid the distress of bankruptcy but who have debts in excess of £15,000. A legally binding agreement on all parties, an IVA is an agreement between you and your creditors whereby you agree to pay what you can afford to pay over a 5 year period. Any debt outstanding outside of that agreement is automatically written off. Under the terms of an IVA your creditors cannot continue to chase you for money, but you have to keep up the payments for the agreed period otherwise they could in theory bankrupt you.

Debt Management

A Debt Management Scheme is not a legally binding agreement, but a voluntary agreement established between the various parties. Many companies can offer you free and impartial advice and help with your debt problems. If you are struggling with debt, then a Debt Management Scheme can help you regain control of your finances.

Bankruptcy

While Bankruptcy is always an option for those with serious debt problems, it is not a course of action which should be taken lightly. However, for some it is the only option. Bankruptcy is a legal status which enables an individual to clear their entire debts in one fell swoop. A bankruptcy petition can be declared by any creditor who is owed in excess of £750, or by the individual themselves. Bankruptcy usually lasts for a period of one year.

Debt Consolidation

In some cases, Debt Consolidation might be the solution to your debt problems. Debt Consolidation enables you to consolidate numerous smaller debts or multiple loans into one larger loan, but with a single, more manageable monthly payment.

Debt Counselling

Debt Counselling is one of the first things you should consider if your debts are spiralling out of control. Organisations such as the Debt Advice Trust, a not-for-profit organisation, can help you with free, impartial advice, and suggest a solution to your specific debt problems.

Debt Help

The Debt Help you require will depend very much on your own, personal circumstances. To begin with, making a list of your debts is an essential first step in deciding which course of action is best for you in dealing with your creditors. Your local Citizens Advice Bureau may well be able to help you further with any debt help you require.

Debt Advice

Debt Advice is available from many commercial and non-commercial organisations. A good starting point if you require Debt Advice would be National Debtline would will be able to offer you free, confidential and impartial advice.

Remortgaging

Remortgaging may well be the solution to your debt problems. If you have a mortgage and would like to consolidate your debts into a single, more manageable to alleviate your debt problems, a call to one of the agencies mentioned above will help you decide if remortgaging is the best solution for your specific debt problem.

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