Advice Debt
Providing advice on serious debt for over 15 years
Money Advice Direct have been providing advice on serious debt for over 15 years. Getting advice on debt early is important to avoid implications such as an impaired credit history that can make it difficult to save and build a financially stable future.
Money Advice Direct looks to work with the public to identify appropriate and help individual’s migration to a practice of saving and build a financially stable future.
Don't ignore letters or phone calls from your priority creditors. Get in touch with them as early as possible and explain to them why you are in debt. If you phone, you should follow up the call with a letter, confirming what you said on the phone. Keep copies of any letters you write to them.
Our debt advice service such can help you write to your creditors. To contact an advisor call 0800 074 6918. Alternatively complete an online enquiry form and an advisor will call you back at the time that you specify.
If your priority creditors are threatening to take court action or have started to take court action against you and you need a little time to sort out your finances, send them a holding letter explaining your problems. Say that you will contact them again within two or three weeks. Ask them not to take any further action during this time. For more about negotiating with your creditors, see under heading Negotiating with creditors.
When you have worked out how much you have left over after paying your expenses, contact each of your priority creditors and try to make an arrangement to pay back what you what you owe. For example, you may be able to pay an extra bit each month until the arrears are cleared. Or you may not have any extra money at the moment but know you will have a lump sum in three months' time which will clear the debt completely.
If you can’t afford to pay anything to your priority creditors and your situation isn’t likely to get better, the outcome may be very serious. Get advice straight away.The service provides Debt Advice for residents of England, Wales and Scotland. If you're looking for advice on a debt problem there are several ways you can obtain help and information.
Money Advice Direct Debt Advice service is one of the UK’s most established debt advice organisations. Call us on 0800 074 6918 for confidential and non-judgemental debt advice and find out which debt solutions are best for you to get debt free (subject to terms and conditions).
Our debt advisers have been specially trained to be able to offer you the best advice possible to free you from debt. To contact an advisor call 0800 074 6918. Alternatively complete an online enquiry form and an advisor will call you back at the time that you specify.
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IVA's
The IVA Guide
Money Advice Direct has put together an IVA Guide based on the enquiries and questions that we receive at our helpline offices.
In the guide we cover such subjects as IVA Approval, early settlment of your IVA, missed IVA payments, IVA failure, additional debt claims and much more.
[click here for IVA Guide]
What is an IVA?
The IVA is an extremely powerful tool enabling you to clear your debt and return to a clean financial bill of health. Visit Money Advice Direct's Guide to Individual Voluntary Arrangements (IVAs).
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DANGER
Due to the tremendous demand for debt consolidation services the United Kingdom is now overloaded with debt management companies that contain misleading information. [more...]