Personal Debt Problems in the UK
For UK debt problems call 0800 074 6918
Money Advice Direct is a national telephone helpline for people with personal debt problems in England, Scotland, Northern Ireland and Wales. The service has a 24 hour freephone number 0800 074 6918 offering, confidential and ethical debt advice. If you have personal debt problems please call 0800 074 6918 or apply online.
The service has existed since 1986 and was set up to deal with the epidemic of personal debt problems the UK is experiencing. The service provides help advice to callers and also produces written self-help packs and factsheets to back this up. The service can also assist callers with the setting up of personal debt management Plans , IVA to clear personal debt , personal bankruptcy or just advising for personal debt problems.
Help with personal debt problems
You are not alone in debt. At present in the UK personal debt problems are an all time highs, due to the wave of liquidity that has swept the UK. Many banks and store card and credit card issuers have been constantly cards and personal loans on the high street, even incising customers with special offers.
This information gives you basic advice about personal debt problems and simple guidelines for dealing with money problems. It is important not to panic about debt problems but also you shouldn't ignore them - they won't go away. Unlike like a terminal illness, debt is curable!!!!
If you are worried about how to deal with your personal debts, there is non-judgemental, confidential advice available on 0800 074 6918 or apply online.
There are simple guidelines you can follow to help you deal with your personal debts:
- Make a list of your personal debts
- Work out your budget
- Sort out your priority personal debts
- Sort out your non-priority personal debts.
- Don’t be afraid to talk to your friends or family about your problems. Remember the old proverb “Problems shared = problems halved.”
- Be honest and open about your debt problems with your creditors. They can help you by reducing interest rates of even stop interest until you get back on your feet.
If you have money to spare
If you have money to spare, you may have several options for dealing with your non-priority debts such as:
- Debt Management Plans
- Informal Arrangements
- IVA
- Consolidation Loans
- Bankruptcy
- Administration Order
- Trust Deeds
- Debt Consolidation
- Debt Solutions
- Debt Help
- Debt Repayment
You should weigh up the advantages and disadvantages of each of these options carefully. Get as much information as you can before making a decision and don’t sign anything until you are sure it is the best option for you. If you have any questions, get advice. The advice team can help you with advice about your debt options calling 0800 074 6918.
High Levels of personal debts in the UK
The advice team at Money Advice Direct blame the aggressive selling of credit for the rise of personal debt problems in the UK. High levels of personal debt are leading many people into financial difficulty and, in extreme cases, bankruptcy. There is currently a considerable degree of irresponsible lending and aggressive marketing to individuals of personal loans and credit. Lenders have an obligation to stop these practices and to provide greater levels of debt advice.
Call us free on 0800 074 36918 Our phone lines are open 24 hours, all year round, including bank holidays. You can call free for an initial chat about your own personal debt situation or you can apply online.
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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...]