Specialist debt companies in the UK are set to slash debt problems in many areas of the country. With personal debt running at an all time high, most people feel they have nowhere to turn, and are finding debt relief in the arms of regulated debt management companies who have previously been derided in the press.
Debt help in the UK has become much more accessible over the past 12 months, and there are numerous options open to people who are struggling with their finances. The rise in unregulated debt management companies has become a problem in many areas, and people are being advised to only use specialist companies who are regulated in the UK.Financial options for people struggling with credit card debt, mortgage arrears and unpaid bills are wide and varied, depending on the severity of the debt, and include:
– Consolidation loans, which can result in you borrowing more money, but making reduced payments
– Debt management plans -where you make an affordable monthly payment to your creditors without borrowing more money
– Individual Voluntary Arrangements (IVAs), which are legal procedures to help people clear serious debts within 5 years
– Bankruptcy – which is a serious legal procedure, providing help for people with massive debts, which can be cleared within 12 months.
There is no one solution to aid people suffering financial problems and the options available depend on the seriousness of the debts. Debt consolidation loans, management plans and IVAs are all viable options if the debtor takes proper advice from a regulated specialist company, where every detail will be explored before a solution is recommended.
A debt consolidation loan allows all the debts to be lumped together to make one loan, and although monthly payments will be reduced, the borrower will be paying back more money over the full term of the loan. Professional counsellors can advise people whether debt consolidation is right for them and give free help and information about money solutions. Debt consolidation lump together unsecured loans into one big secured loan, which could result in house repossession if payments are not kept up.
To contact debts.org for specialist free help and advice about money problems, call 0844 277 7999 and speak to a counsellor in confidence. Or contact www.debts.org and fill in the online claim form. Friendly and professional advice will put your mind at rest and give you the confidence to enjoy financial freedom in the future.
I have been struggling with debts for the past 5 years but was worried about contacting a debt management company as I had heard so many horror stories. Knowing that debts.org was a regulated company gave me the confidence I needed to contact them and thank goodness I did. The helpful counsellor dealt with my creditors within 24 hours, and 6 months later I am now well on the way to clearing my debts.
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