Freephone national adviceline covering the entire UK including Chester - Debt Advice Service

IVA / bankruptcy debt advice covering the UK including Chester

Please note that Money Advice Direct Debt Advice Service is a national organisation covering the entire UK. Please note that the service operates from offices in London and a national telephone advice centre in the north of England. The service does not operate a physical office or a seperate team in each of the city and regions listed on this page.

Chester is the county town of Cheshire, England. Lying on the River Dee, close to the border with Wales. The city has a shopping centre that contains its unique 'Rows' or galleries which date from medieval times. Chester has its own university, the University of Chester, and a major hospital, the Countess of Chester Hospital, named after Diana, Princess of Wales and Countess of Chester.

If you live in Chester, or anywhere else in the UK and facing severe financial difficulties Money Advice Direct may be able to help you. 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.

Debt advice Chester

The advice team at The UK Insolvency Heline has revealed that Chester’s most vulnerable are being hit by the credit crunch. Figures from the service show that over 250 a month from Chester are seeking debt assistance. The end of cheap available credit is impacting on the most vulnerable in society who have in many cases been forced to use credit to pay for essentials.

This is evidenced by the number of people requesting debt advice, the number of which has increased by nearly 40 per cent in the last 12 months. Over 50% of the debt advice requests are regarding mortgage arrears, catalogue debts, credit card debts and personal loan debts. If people are worried about their finances they should get advice now by calling 0800 074 6918.

Chester’s Pensioners suffering personal debt problems

According to advice team there is a growing number of over 60 year olds seeking debt advice in the Chester region. This figure is expecting rise as pensioners continue to use credit cards when they retire, raising fears of a debt crisis among pensioners in Chester.

A recent survey carried out by Money Advice Direct is showing evidence that today's pensioners are increasingly suffering from debt problems. Calls from over  people over 60 is the fastest growing sector of people using the service in Chester, with an average debt of £30,000.

All participants in the experiment struggled to maintain their lifestyle on such a small budget. The basic state pension for a single person is £84.25 a week. Single men lasted longest and single women found the task most difficult to complete.

Possible debt solutions for clients in Chester

Those worrying about their finances should seek professional advice, as taking out the wrong debt solution could make matters worse. The following debt solutions are a mix of government and advice sector schemes to get out debt and stay out of debt:-

• IVA – Individual Voluntary Arrangement – By using an IVA you pay back an affordable amount over a fixed period of up to 5 years. When the IVA is completed the remainder of the debt is written-off. Whilst the IVA is in progress no interest is charged on your accounts and all creditor action is suspended. Please note that your credit will be impaired for 6 years after an IVA.

One point about an IVA for homeowners to note is if you have equity in your home you are normally expected to release this by way of are mortgage or secured loan. If you have more equity in your home than debt an IVA will not be suitable. Also for an IVA to be feasible you need to owe at least £17,000 and the money should be owed to at least three creditors - To apply for an IVA please click HERE

• DMP – Debt Management Plan – These can enable you to reduce your monthly outgoings to a more affordable level. A 3rd Party negotiates with your creditors to accept reduced payments and where possible to accept freeze interest/charges - To apply for a Debt Management Plan please click HERE
• Bankruptcy – Bankruptcy stays on your credit file for six years, which can affect your ability to get a mortgage and credit. The UK Government has recently streamlines the rules on bankruptcy which may enable people with severe debt problems to become debt free (subject to terms and conditions) much quicker than previously. Bankruptcy may be a better solution than debt management, an IVA in some cases.
• Loan or Remortgage – These can help reduce your monthly outgoings but can lead to your overall payments over the term of the loan increasing. You may also be converting unsecured debt to debts secured on your home. A consolidation loan can help save money if the interest rate on the new loan is lower than the interest being charged on your existing debts.

Guide to staying out of debt

Many families in Chester are struggling to manage their debts. If you are one of them, here are some proven steps you can take stay out of debt.

• Budget
• Don’t ignore the debt problem.
• Move credit card balances to take advantage of interest free deals
• Change energy and utility providers
• Claim all benefits you are entitled to.
• Prioritise your debts
• Consider an IVA or Bankruptcy
• Open an ISA savings account.
• Remortgage
• Cancel PPI insurance cover
• Avoid paying for the call; get debt advice from a FREEPHONE service only
• Only get a consolidation loan as a last resort
• Talk to your partner about your debts.

Money Advice Direct is an established FREEPHONE debt advice service on 0800 074 6918. The service is well established and can provide financial help and debt solutions. If you have serious financial problems call Money Advice Direct for expert, confidential advice on which debt solution might be most appropriate for you.

To contact an advisor call us on FREEPHONE 0800 074 6918. Alternatively complete an online enquiry form and an advisor will call you back at the time that you specify.

Please note that the Bankruptcy-Insolvency.co.uk Debt Service is a national organisation covering the entire UK. Please note that the service operates from offices in London and a national telephone advice centre in the north of England. The service does not operate a physical office or a seperate team in each of the city and regions listed on this page.

This is a list of offical cities within the United Kingdom covered by Money Advice Direct.  

• Aberdeen
• Armagh
• Bangor
• Bath
• Belfast
• Birmingham
• Bradford
• Brighton and Hove
• Bristol
• Cambridge
• Canterbury
• Cardiff
• Carlisle
• Chester
• Chichester
• City of London
• Coventry
• Derby
• Dundee
• Durham
• Edinburgh
• Ely
• Exeter
• Glasgow
• Gloucester
• Hereford
• Inverness
• Kingston upon Hull
• Lancaster
• Leeds
• Leicester
• Lichfield
• Lincoln
• Lisburn
• Liverpool
• London
• Londonderry
• Manchester
• Newcastle upon Tyne
• Newport
• Newry
• Norwich
• Nottingham
• Oxford
• Peterborough
• Plymouth
• Portsmouth
• Preston
• Ripon
• Salford
• Salisbury
• Sheffield
• Southampton
• St Albans
• St Davids
• Stirling
• Stoke-on-Trent
• Sunderland
• Swansea
• Truro
• Wakefield
• Wells
• Westminster
• Winchester
• Wolverhampton
• Worcester
• York
  

List of counties covered by Money Advice Direct

• Avon
• Bedfordshire
• Berkshire
• Borders
• Buckinghamshire
• Cambridgeshire
• Central
• Cheshire
• Cleveland
• Clwyd
• Cornwall
• County Antrim
• County Armagh
• County Down
• County Fermangh
• County Londonderry
• County Tyrone
• Cumbria
• Derbyshire
• Devon
• Dorset
• Dumfries and Galloway
• Durham
• Dyfed
• East Sussex
• Essex
• Fife
• Gloucestershire
• Grampian
• Greater Manchester
• Gwent
• Gwynedd County
• Hampshire
• Herefordshire
• Hertfordshire
• Highlands and Islands
• Humberside
• Isle of Wight
• Kent
• Lancashire
• Leicestershire
• Lincolnshire
• Lothian
• Merseyside
• Mid Glamorgan
• Norfolk
• North Yorkshire
• Northamptonshire
• Northumberland
• Nottinghamshire
• Oxfordshire
• Powys
• Rutland
• Shropshire
• Somerset
• South Glamorgan
• South Yorkshire
• Staffordshire
• Strathclyde
• Suffolk
• Surrey
• Tayside
• Tyne and Wear
• Warwickshire
• West Glamorgan
• West Midlands
• West Sussex
• West Yorkshire
• Wiltshire
• Worcestershire