From spending on credit cards, to making purchases beyond your means, things happen in life that can cause debt to spiral out of control. If you’ve had enough and want clear your debts, a Debt Help plan could be for you.
- Cut the stress in your life - We arrange for you to pay one affordable monthly payment to all of your debtors.
- Don’t pay out more - Once the monthly payments are under way, we can negotiate freezing all the extra charges you pay.
- Start my Debt Help application
The First Step
Working with one of advisors, you will work out a minimum amount of money
that you can afford to repay each month. The second step is to combine
all your debts into one monthly repayment. Sounds sensible doesn’t it?
Once your payments are up and running, we get to work negotiating with your creditors for you. Our aim is to get the charges and interest frozen on your accounts.
Of course, since your plan is tailored to suit you, it needs to be flexible. If you want to increase payments to clear your debt more quickly, we can make that happen as well.
Incase you’re wondering about the differences between an IVA and a Debt Management plan, here’s a quick explanation:
IVA’s are normally the best option for those with large debts of over 15K, as this agreement allows for up to 80% of the debt to be written off, and the remainder of the sum to be settled within 5 years or so.
The Debt Help Plan is suitable for those with less debt and based on agreeing on your lowest monthly payment required to keep your creditors happy.
Once we talk to you, we can advise you honestly which solution is best for you. From then on, with the plan in place, you can breath a big sigh of relief and enjoy some peace of mind! Simply fill in the form, and we’ll get in touch whenever suits you best.
Frequently Asked Debt Help Questions
How much will I have
to pay?
Unlike many of our competitors, DebtUKOnline don't charge 15% monthly
management fees. Our monthly management fee is a fixed amount based on
the number of creditors that we have to pay on your behalf, furthermore
that fee is fixed for the duration of your plan.
The result, therefore, is that less of your monthly payment will be paid
to us and more of your monthly payment will be paid to your creditors,
resulting in your debts being paid off quicker.
What do you do?
We negotiate with your unsecured credit companies to reduce your monthly
payment and request them to freeze or reduce their monthly interest charges.
We will then take a single monthly payment form yourself and pay your
creditors on your behalf. This will make managing credit payments towards
your far simpler.
How do I know I'm getting good advice?
We are Licensed under the 1974 Consumer Credit Act and, as such, any debt
advice we give must be ethical and professional. In addition, your questionnaire
and financial circumstances will be reviewed by our in-house Chartered
Accountant, who has extensive experience in the financial industry services.
We also adhere to the Data Protection act to ensure client confidentiality.
Will any of your Debt Plans affect my
credit rating?
If you have already had problems paying your debts, it is likely that
your credit rating has been affected as a result. Creditors are entitled
to register that your account is in default if you are unable to keep
to the original contractual terms of the finance agreement
What is the charge for Debt Help?
As stated earlier, you will pay only one affordable monthly payment. Included
within this payment will be a fixed distribution or debt management charge.
Because most of our work for you will be done at the start of the programme,
we will retain the first monthly payment to cover this costs. (i.e. it
will not be initially used to pay your creditors)
