Debt advice in Liverpool

Merseyside Debt Helpline

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.

The amount of calls for debt help to Money Advice Direct has doubled in the past year. Liverpool is a city and metropolitan borough of Merseyside, England, along the eastern side of the Mersey Estuary. As with other major British cities, Liverpool has a large and diverse population.

Liverpool is 176 miles northwest of London. Liverpool is officially the European Capital of Culture. The regional debt advice team covering Liverpool is being inundated with clients as more and more people in the city face crippling financial problems. The biggest concentration of poverty is found in Liverpool. The L16 postcode area in Central Liverpool has 65.8 percent of households earning less than £10,000 a year, with two other Liverpool postcodes also in the bottom-ten table.

According to Money Advice Direct, Liverpool is one of the UK’s most debt ridden cities and as the credit squeeze hits hard in towns and cities across city the debt problem is going to get worse.

Demand for debt advice in Liverpool

There is a huge demand for debt advice in Liverpool at the moment. Those contacting Money Advice Direct for debt advice are, on average, in almost three times more debt than they were five years ago. The average debt of clients seeking advice on personal debt in Liverpool has now hit £50,000 per person and is rising by 10% each year.

Liverpool Pensioners in debt

Pensioners and people approaching retirement in Liverpool face the biggest gap between their income and their expenditure due to debt repayments, with those aged over 60 having a monthly shortfall of £724 on average. The advice team feel this age group would need a 55% increase in their income in order to meet their monthly repayments, although in reality many will see their income fall as they give up work.

Mortgage arrears in Liverpool

With a growing number of Liverpool’s residents finding themselves in arrears on their mortgage payments, the advice team at Money Advice Direct fears that house repossessions in Liverpool will soar.

Credit card debts in Liverpool

Five years ago, the average person was coming to us with credit card debts of £25,000, and that has at least doubled some people are in excess of £60,000 in debt just on credit alone. Liverpool contains over 100,000 households, the most extreme levels found in Britain.

• Are you struggling to pay your debts call 0800 074 6918?
• Have you been refused financial help apply online for help?
• Are your creditors chasing you by post or phone?
• Do you have debt problems?
• Are you considering debt consolidation or debt management?
• Are your creditors threatening legal action?

Popular debt solutions in Liverpool

Sometimes a Debt consolidation loan can sort out your finances. If you have debts and owe money to several credit cards or loans, debt consolidation works by gathering all those debts together, so you pay just one monthly repayment. To this end the debt consolidation process can make serious debts problems suddenly more affordable.

IVA – An Individual Voluntary Arrangement more commonly known as an IVA is a legally binding agreement for the satisfaction of debts usually lasting five years. To enter into an IVA, you would usually have to have at least £15,000 of unsecured debt. An IVA is a legally binding agreement that writes off debts usually over a five year period. To enter into an IVA, you would usually have to have at least £15,000 of unsecured debt. It is a genuine method of avoiding bankruptcy while still being subject to a formal insolvency procedure. Read more in IVA here.

Debt Management - If you are genuinely struggling to meet your current monthly commitments, a debt management plan can be set up to negotiate reductions in your repayments to your creditors. Under a Debt Management Plan people in debt will make one affordable payment each month to us, which will be distributed to the creditors on your behalf. A successful debt management plan will try to reduce or freeze any interest or other charges the outstanding debts. To apply for a Debt Management Plan click here.

Bankruptcy –Bankruptcy is a court order that you can apply for if you're in debt. It may be the best way for you to free yourself from excessive debts that you simply cannot pay by sharing out any assets you have among your creditors. Read more about Bankruptcy.

Districts of Liverpool covered under the debt advice and Bankruptcy service:

• Aigburth
• Allerton, Merseyside
• Anfield, Liverpool
• Belle Vale, Liverpool
• Broadgreen
• Canning, Liverpool
• Childwall
• Chinatown, Liverpool
• Clubmoor
• Croxteth
• Dingle, Liverpool
• Dovecot, Merseyside
• Edge Hill, Merseyside
• Everton, Liverpool
• Fairfield, Liverpool
• Fazakerley
• Garston, Merseyside
• Gillmoss
• Grassendale
• Hunts Cross
• Kensington, Liverpool
• Kirkdale, Merseyside
• Knotty Ash
• Mossley Hill
• Netherley, Liverpool
• Norris Green
• Old Swan
• Orrell Park
• St Michael's Hamlet
• Sefton Park (district)
• Speke
• Stoneycroft
• Toxteth
• Tuebrook
• Vauxhall, Merseyside
• Walton, Merseyside
• Wavertree
• West Derby
• Woolton

If you are currently in financial difficulty, you are not alone. Money Advice Direct can help you get out of debt by:

1. Negotiating with your creditors
2. Arranging one low, affordable monthly payment
3. Freezing interest on your outstanding debts
4. Putting together a Debt Management plan tailored to your needs
5. Reduce debt by negotiating a settlement figure with your creditors
6. Stopping all harassing creditors letters

A RECORD number of Liverpool residents need debt advice due to spiralling money worries. If you are living in Liverpool and are looking for debt advice please call 0800 074 6918 for debt advice or apply online for debt help.

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