Find debt advice for the entire UK including Ely

IVA or bankruptcy advice for the whole of the UK including Ely

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.

Ely is a cathedral city in Cambridgeshire, England. It is 14 miles (23 km) north-northeast of Cambridge. Ely has been informally accounted a city by virtue of being the seat of a diocese. Ely is the third smallest city in England. Do you live in Ely? Do you have debts or need help with budgeting? Call our FREEPHONE Money Advice Line on 0800 074 6918.

The number of Ely residents having debt problems has risen dramatically according to Money Advice Direct regional debt advice team. In the last 12 months Money Advice Direct has dealt with over 15000 new debt issues. The debt advice team have helped people in East Cambridgeshire and Ely clear debts of over thousands of pounds.

Our statistics are useful in showing the financial outcomes but they do not show the less tangible results of a client visit or telephone call to our office. This is that we find an answer. We support and we enable. We do not judge. In short – we help clear debt problems.

Are you in debt? Call FREEPHONE 0800 074 6918. At Money Advice Direct we can advise you on all aspects of debt and the courses of action open to you. We can help with preparing a financial statement, negotiation with creditors and help you set up an IVA, Bankruptcy Petition or Debt Management Plan.

Ely is in East Cambridgeshire. East Cambridgeshire covers approximately 650 square kilometres and is essentially rural in nature with three market towns at Ely, Littleportand Soham. The character of the area is mixed with the southern area around Newmarket being relatively prosperous whilst some parishes in the north of the district form part of the Fens Rural Development Area. The areas of Ely are:

• Barway, Ely, CB7
• Brandon Bank, Ely, CB7
• Brandon Creek, Ely, CB7
• Broad Hill, Ely, CB7
• Chippenham, Ely, CB7
• Down Field, Ely, CB7
• Fordham, Ely, CB7
• Isleham, Ely, CB7
• Prickwillow, Ely, CB7
• Queen Adelaide, Ely, CB7
• River Bank, Ely, CB7
• Soham, Ely, CB7
• Stuntney, Ely, CB7
• Upware, Ely, CB7
• Wicken, Ely, CB7

Debt problems in Rural Ely, Cambridgeshire

Personal debt in the rural areas of Ely is rising dramatically according to Money Advice Direct.

The freephone debt service on 0800 074 6918 has dealt with an increasing tide of people suffering the effects of increasing prices and static wages. There have been clear increases in repossessions, bankruptcies, bailiff activity and debt generally. In the three months, debt has risen by 48% compared with the same quarter last year from clients in rural areas.

Popular Debt Solutions

The majority of calls from client contacting Money Advice Direct are from people with debts relating to bank and building society loans, overdrafts and credit card or store cards and one in four owe over £25,000 on unsecured debts. The following debt solutions are the most commonly used:-

• IVA - An IVA is a legally binding arrangement supervised by a Licensed Insolvency Practitioner, the purpose of which is to enable an individual, sole trader or Partner ("the Debtor") to reach a compromise with his creditors and avoid the consequences of bankruptcy. The compromise should offer a larger repayment towards the creditor’s debt than could otherwise be expected were the Debtor to be made bankrupt. Read more about the IVA procedure here
• Debt Management Plan - A Debt Management Plan is a simple and effective way to pay your non-priority creditors. Your debt adviser will calculate the amount you can afford to pay after giving consideration to your priority debts - mortgage, utilities, council tax etcetera and day-to-day living expenses. Any money left is then deposited with us as a single monthly payment and then distributed to your non-priority creditors on your behalf. Read more about Debt Management Plans here
• Bankruptcy - Bankruptcy is an option that often has to be considered when an individual cannot pay their debts as they fall due. A first time bankrupt with debts will generally receive their discharge one year after the date of the bankruptcy order (there is the possibility that in some cases the bankruptcy discharge period will be less than one year).

Although bankruptcy has a bad stigma and is publicly advertised, it should always be considered when dealing with individual insolvency cases.
Please note that if your are ever faced with the prospect of bankruptcy you should look at alternatives as soon as possible such as the Individual Voluntary Arrangement procedure (IVA).

Ely in Debt – Advice and Guidance for getting out of debt

1. Look for ways to increase income such state benefits or a second job.
2. Look for bargains and savings by using the internet price comparing sites.
3. Contact your creditors and ask for lower interest rates.
4. Avoid borrowing from “door step” lenders or debt consolidation firms.
5. Make sure you are not spending too much money on living costs. As a guide your housing costs should be no more that 33% of your income.
6. Use direct debits to make payments so you don’t miss the payment date for your bills.
7. Set yourself a limit on how much cash you withdraw each week.
8. Only use credit cards in an emergency.
9. Create a monthly budget and stick to it.
10. Pay off debts with the highest balance first.

At Money Advice Direct we offer every client peace of mind in knowing that their case is being dealt with by trained individuals who serve the client’s interest at all times. The debt helpline is open 24 hours on 0800 074 6918.

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