Debt advice for Trade Union Members

Introduction

The national press has been full of stories about the increasing amount of debt faced by many individuals. Debt can cause incredible stress and place added pressure on both home and work situations.

Trade Unions have been looking at ways to help members who may find themselves in financial difficulties. Not any longer because UK Trade Union members, like other member of the public can now receive confidential and non-judgemental help from the debt advice organisation, The UK Insolvency Debt Advice Service

The UK Insolvency Debt Advice Service specialises in helping people to find solutions to their debt problems. Trained advisors offers a sympathetic and professional service to anyone struggling with the stress of debt.

Our service is open to all on 0800 074 6918

Debt advice is readily available for trade union members either via their own unions's welfare/debt line or from The UK Insolvency Debt Advice Service.

This advice is confidential and non-judgemental to all members. The UK Insolvency Debt Advice Service works to offer you the best solution to a debt problem and can establish a debt repayment programme.

The UK Insolvency Debt Advice Service will help anyone in financial difficulties to find a solution to their problems. Each case is different so each solution will be unique.

Once a trade union member has contacted The UK Insolvency Debt Advice Service, a trained adviser will take a full account of the debts owed and work out an income and expenditure balance sheet. At this point the The UK Insolvency Debt Advice Service case officer will decide which of several options is most suitable in this instance. For clients who are not insolvent but who need a debt repayment programme, The UK Insolvency Debt Advice Service can refer to professional firms to implement debt solutions.

Insolvency Practitioner and Debt Management Firms will communicate between creditors and money advisers making it quicker to reach an agreement between debtors and creditors.

When debts are larger or the client is insolvent, then the case may be suitable for an Individual Voluntary Arrangement. An IVA is a legally binding agreement, a proposal to creditors to repay a percentage of the debt in a monthly payment over a fixed period of time, usually five years.

When people fear the consequences of bankruptcy to their homes, jobs and livelihoods, it is vital that they are aware there is an alternative. With credit easily available, managing debt becomes even more important. When debts become unmanageable, the longer it takes to seek help, the more difficult the problem becomes.

An IVA usually lasts five years and in many cases is a viable alternative to bankruptcy. For further information call 0800 074 6918 or visit www.insolvencyhelpline.co.uk.