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Debt Plan | Money advisor

If you are like millions of others in the UK who are struggling with debt, Money Advisor are here to provide professional and honest information on the debt solutions available to you.<br><br>Anyone can get into financial difficulty for a vast variety of reasons. We find that people are often anxious about talking about their money issues and tend to put off seeking help. For this reason, we strive to provide a warm and friendly service, with empathy and integrity at every step of the way.<br><br>Our advisors welcome you with a listening ear, taking your personal circumstances into account before running through the solutions that you qualify for and answering any questions you may have.

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Debt Plan | Money advisor

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  1. Debt Plans - Money Advisor

  2. Debt Relief Orders • A debt relief order (DRO) is one of the debt solutions available to you, if you have a debt of £20,000 or less, your maximum disposable income is £50 , and you do not have assets (including property and vehicles) or savings and investments worth more than £1,000. • Debt relief orders were introduced by the UK parliament as a new form of bankruptcy for people with minimal assets and an outstanding debt back in 2007. Since then, DROs have been used by thousands of struggling borrowers in England, Northern Ireland and Wales. • As with most debt solutions, applying for a debt relief order has certain merits and drawbacks. Whether or not a DRO is suitable for you depends on your personal circumstances and financial situation. That is why it is important to get debt help before you go for a debt relief order.

  3. Individual Voluntary Arrangement • An IVA is an agreement between you and your unsecured creditors to help you pay off your debts at an affordable rate. • IVAs were introduced as a formal solution to help people with debt problems. Over time, they have emerged as a widely used debt solution in the UK. • Those who are eligible can apply for an IVA to regain financial control, write off a percentage of their debts, and start afresh. • At Money Advisor, we offer a professional, impartial review of your financial circumstances. Should an IVA be the best option, our experienced agents will run you through the whole process before you commit to an arrangement.

  4. Debt Management Plan (DMPs) • Are you struggling under the weight of your mounting debts? Are you unsure each month how to get a hold of your spiralling money situation? Is your debt causing stress to your life? If this sounds familiar, then it’s time to face your money worries and to create a strategy to tackle your debt and to reclaim some order back to your finances. One option to help you cope with your existing debt is to think about a Debt Management Plan (DMP) • Our expert team are on hand to explain the best option available for your current level of debt and circumstances. To see more information on the Debt Solutions, visit our main debt solutions page here.

  5. Debt Consolidation • Debt consolidation is a form of debt refinancing that means you take out one loan to pay off many others that you may have, or even consolidating debt owed to your existing creditors and combining them into one affordable monthly payment. • If you owe money to different lenders, a debt consolidation loan could help you take control of your finances and keep track of your money. • For example if you owe three different creditors £15,000, you can take out a single loan to pay those off, meaning you have one affordable monthly payment.

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