Solve Financial Problems
Detailed advice on how to solve financial problems
Money Advice Direct find that many people have financial problems they want to solve at some point in their life.
This can happen for a variety of reasons including:
- Bereavement
- Unemployment
- Illness
- Relationship breakdown
- Reduction of Income
The debt advice team is available 24 hours a day to solve financial problems and give you information on how to tackle debt problems.
To solve financial problems the following must be carried out:-
- The completion of a financial statement, which you can send to people you owe money to know as your creditors.
- The completion of a budget illustrating how to make affordable offers to your creditors.
- An understanding of which debts the most important – or priority – these debts must be paid first.
- Understand what action creditors can take and what they may mean for you.
- Stop using credit cards and store cards. Getting further credit will only get you more in debt and trying to solve your money problems will become impossible because the creditors will not want to help you.
If you wish to solve your money problems, you need to consider the following procedures:
READ BEFORE CONSIDERING DEBT OPTIONS 
- IVA - An individual voluntary arrangement will only solve your money problems if you keep to a very strict budget set for you by the Licensed Insolvency Practitioner.
- Debt Management – This solution offers just one monthly payment, interest and charges can be stopped. The scheme is totally informal and can be set up for debts of £2,000 and over.
- Bankruptcy – This is a method for sorting your money problems out once and for all. Please note that there are many disadvantages of bankruptcy.
- Protected Trust Deed – If you live in Scotland and you are suffering serious money problems over £10,000 then a trust deed clears you debts over a three year period.
- Debt Consolidation -. The UK population's debt problems got worse due to too much lending we always advise only taking out a debt consolidation loan if there are no other options.
- General help with money problems - Sometimes it can be reassuring to discuss just talking to someone about your debt problems. An hour long conversation with a financial adviser will ease your money problems and may even solve money problems without the need to do a formal debt procedure.
Money Advice Direct are experts in knowing how to solve money problems. If you are struggling with your debts please call 0800 074 6918 or apply online for confidential debt advice. Our expert debt advice team can go through all your problems and provide you with the necessary information to help get you back on track and feeling ready to tackle the problem.
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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...]