Exeter Debt Advice

Find local Debt Advice in Exeter

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.

Exeter is a city, district and county town of Devon, England. Exeter has some of the most severe pockets of poverty in the country with many suffering personal debt problems. The local population is ageing and the vast majority of educated young people leave the area to pursue careers, leaving a skills gap.

Call us on FREEPHONE 0800 074 6918 now for debt advice on how to get debt free (subject to terms and conditions)!

Demand for debt advice has more doubled from clients in Exeter this year. Money Advice Direct has a national debt advice team covering all of the including residents of Exeter.

Areas in Exeter affected by residents in debt

• Alphington, Exeter, EX2
• Countess Wear, Exeter, EX2
• Exeter, Exeter, EX2
• Ide, Exeter, EX2
• Pocombe Bridge, Exeter, EX2
• Shillingford St George, Exeter, EX2

Debt Advice and Poverty in Exter

Exeter is a major economic engine for the whole region, with many people commuting into the city for work to help pay their debt. The high cost of fuel, sparse public transport, seasonal work, low wages, limited job prospects and a lack of affordable housing are all problems which cause deprivation in Exeter, according to regional debt advice team.

There is, of course, great strength and a strong culture of self-reliance in many rural communities. However, historic under-investment has now been compounded by the more recent problems linked to high levels of personal debt, the credit crunch, the worsening recession and the impact of a couple of poor years for the tourism trade.

Ways of debt – Guide for residents of Exeter

IVA - Individual Voluntary Arrangements

An IVA is a legally binding formal agreement between you and your creditors. This involves taking all your current financial details and making a sensible offer of repayment to your creditors. Once that offer has been accepted you and your creditors must keep to that arrangement. To qualify for an IVA you must have debts of over £15,000 and be able to afford at least £200 per month; after all living expenses have been paid. Read more about the IVA procedure here

The advantages of IVAs are

• Interest and charges are stopped (subject to creditors approval).
• All Court action is stopped (subject to creditors approval).
• Up to 60% may be written off debts (subject to creditors approval).
• After five years all debts are written off.
• If you can settle the amount agreed early you are free to do so.
• Your home and valuables are protected from repossession.
• Please note that for consumers considering a Bankruptcy Order, Individual Voluntary Arrangement (IVA) or Protected Trust Deed (PTD); that although the consumer may become debt free at the end of the Bankruptcy, IVA or PTD period, the effect on their credit rating is likely to remain on file for 6 years. In addition the consumers / debtors name, address and birth date will become public knowledge on the governments “Individual Insolvency Register”. The individual insolvency register (insolvency.gov.uk/eiir/) allows anyone to check, quickly and easily, if someone is bankrupt or has taken out an "individual voluntary arrangement" (IVA).
• Please note that for consumers considering a Individual Voluntary Arrangement (IVA) or Protected Trust Deed (PTD); if the consumer is a property owner and there is sufficient equity in their property the supervisor of the IVA or PTD may require the debtor, to revalue their home and realise the equity to pay off some or all of the debt at some point in the procedure. Please beware of debt advice firms who not state that with an IVA and in a PTD the supervisor may require the debtor, if they are a homeowner, to revalue their home and realise the equity to pay off some or all of the debt.

 

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).

Debt Management

A Debt Management Plan is an informal agreement between you and your creditors to pay back what you owe at a rate you can afford. We would contact all your creditors, explain your circumstances and make an offer based on your disposable income. 

Money Advice Direct provide advice on government introduced and private sector debt solutions to help get you out of debt in the most effective way. The debt advice teams are highly trained advisors. By allocating a dedicated case adviser to all clients the service ensures that we will fully investigate your best route out of debt and are available to answer any questions or concerns you may have along the way. Get advice today 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