Debt Help & Advice
Debt is often described in negative terms. But borrowing money, or ‘taking on debt’, isn’t necessarily a bad thing. Manageable debts, that you can comfortably pay back over an agreed period, are often necessary in order to take that next step in life.
It’s only when debt repayments become unmanageable or unaffordable that debt becomes a problem.
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Debt Help & Advice
Our UK Insolvency Practitioners have over 70 years’ collective insolvency experience so we understand the impact debt can have – not only on you, but also on your family, friends and loved ones. We recognise how stressful being in debt can be and how it can make you feel.
That’s why you can be sure that our advisors will be friendly and polite when you get in touch and, most importantly, they will never judge.
We’ve helped tens of thousands of people over the last 10 years, writing off as much as 85% of their original debts. We know how important it is to find the right solution for your circumstances to clear your debt and take back control.
One of the advantages of working with Creditfix is that companies of our size and experience work with creditors on a daily basis. We have a good idea of what they will and won’t accept, meaning we can quickly identify the solutions available to you.
We understand that everyone’s situation is different. That’s why we don’t use a one-size-fits-all solution. By looking at your circumstances, we tailor our service to fit your situation.
What we offer
There is no charge for the initial advice provided and it is all confidential. We offer a range of advice on a variety of debt issues, from Bailiffs to Budgeting, and can provide two main solutions to help you manage your debts, if you enter into one of the below solutions then fees and costs will be payable more information on our fees can be found by clicking on the below links.
- Individual Voluntary Arrangement (IVA) (England, Wales and Northern Ireland)
- Protected Trust Deed (Scotland only)
With these arrangements we work with your creditors to agree an affordable repayment that you can you can afford to pay each month. Our advisors will look into your situation by completing a full fact find of your circumstances including an income and expenditure to establish what you can reasonably afford to pay back.
An IVA or a Trust Deed are generally five and four years long respectively, and so long as you make all your monthly payments and comply with all other terms of your arrangement or Trust Deed, at the end of the arrangement all of your remaining unsecured debts included within the arrangement will be written off.
Our fees are paid to us out of the monthly contributions that you make, and you can be sure that when you work with us and discuss your situation with an advisor, that it is with the highest levels of confidentiality.
You could also decide to pursue an alternative, less formal solution.
I need debt help now, what can I do?
If you are struggling with debts and don’t know what to do simply click on the banner above and fill out the form. One of our advisors will be in touch to talk through your situation.
What information do I need to provide?
It would be helpful if you knew your income, expenditure and details of your debts when you contact us. This will help us fully assess your situation. If you don’t think you know the details of all your debts, don’t worry – we can do a soft credit search in order to help.
How can I find details of my debts?
For the debts that you know about, check the last statements issued to you by your creditors either by post or online, if you don’t have an recent statements you can contact your creditors directly and ask them what the outstanding balances are.,
If you aren’t sure who your creditors are, you may want a copy of your credit report. Private companies will charge you for this service. However, this could be as little as £2 for a paper copy, or possibly free, as part of a free trial. Companies who offer this service include:
- Call Credit
What if I am self-employed?
Being self-employed does not mean we can’t help you. IVAs are ideal for self-employed individuals, as they can allow you to continue to trade your business. We work hard to tailor our services to suit your needs, so give us a call to find out how we could help you.
What about my benefits?
We understand how essential benefits and welfare can be for people facing financial challenges such as unemployment, so we are happy to discuss your individual situation in order to give you the best possible advice. Not strictly true the DI needs to derive fully from non-benefit income so it is possibly to enter a PTD if they have at least £105 of non-benefit income. However may be better to remove this than try to explain it
In England, Wales and Northern Ireland, however, it is still possible to enter into an IVA. You will need to have money left over every month, after your expenses, in order to negotiate a monthly payment with your creditors. Read more about debt and benefits, here.
It is important to check that you are receiving all the benefits you are entitled to as this will ensure that you are maximising the income you have available and give you more money available to meet your day to day living costs and repay your creditors. If you are unsure, try the government’s benefits calculator.
If you are facing financial problems and dealing with creditor hassle, give one of our advisors a call on 0808 253 3444 for immediate and confidential advice, alternatively click on the banner above and fill in the form so we can give you a call back.
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During 2016 CreditFix helped over 19,803 people with their debts
Excellent rating on Trustpilot with a score of 9.3 out of 10
Our Insolvency Practitioners have over 70 years’ combined experience