Newry and national Debt Help across the UK on 0800 074 6918

Freephone debt advice to clear personal debt across the UK including Newry on 0800 074 6918 (subject to terms and conditions)

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.

Newry is the fourth-largest city in Northern Ireland and eighth on the island of Ireland. Newry is 34 miles from Belfast and 67 miles from Dublin. Newry is one of Northern Ireland's oldest towns.

These days many people in Newry are facing credit and debt problems due to the “credit crunch” or just personal reasons like divorce or being a single parent. Finding right debt solutions can keep residents of Newry away from worries of aggressive calls from collection agencies and also it will result in saving you money.

According to Money Advice Direct’s debt advice team people covering the entire UK including Newry, Northern Ireland are struggling with serious debt problems on credit and store cards. In the last 18 months advisors at the debt helpline have advised residents of Newry with combined debt of more than £9 million.

The advice team at Money Advice Direct says the country’s economic crisis has resulted in more people in Newry seeking help with problems relating to unemployment and redundancies.

Debt problems advice for the entire UK including Newry, Northern Ireland

People in Newry, Northern Ireland face problems with mortgage and rent arrears and paying bills after losing their income. According to Money Advice Direct, the average amount of individual debt if a resident of Newry is £21,000. Much of this money used by residents of Newry was borrowed to meet ‘current’ expenditure including lifestyle items such as holidays, or to meet monthly shortfalls in the household budget, rather than to acquire assets or to fund a business.

By the time people in Newry, Northern Ireland realise the extent of their debt problems, their total debts will have been swelled by interest, charges and even further borrowing to fund the minimum repayments. The high average level of debt being incurred across Northern Ireland clearly indicates that too many people have borrowings that they have no realistic hope of repaying.

The main methods that are being used by residents of Newry to clear personal debt are the following:

IVA – The IVA or Individual Voluntary Arrangement provides an opportunity a person struggling with unsecured personal loans or credit card debts of over £17,000, owed to at least 3 creditors, an opportunity to make a payment proposal to their creditors. An IVA is like a shield that protects people in Newry from Bankruptcy. An IVA is the legal binding arrangement between the debtors and creditors to pay off the debts according to the repayment capacity of the debtor. The average IVA debtor owed £47,800, however, this hides a wide spread of debt levels ranging from around £20,000 to more than £100,000. Read more about the IVA here.

Bankruptcy – If your debts are particularly high and / or your income is low, you may need to consider making yourself bankrupt. Bankruptcy is a legal process that will share out your assets fairly among your creditors, so you can write off your outstanding debt and make a fresh start. Read more about Bankruptcy.

Debt Management – A debt management plan could be the ideal way of turning your loan, credit card, store card and overdraft payments into one affordable, single monthly payment, helping you pay off your debts – and get on with your life. To apply for a Debt Management Plan click here. Please note that for consumers considering a Debt Management Plan (DMP), although the consumer may become debt free at the end of the DMP period, if a default notice has been issued the effect is likely to remain on the consumer's credit profile for a lengthy time.

Please note that for consumers considering a Debt Management Plan (DMP), if interest and charges continue to apply then there will be an increase in the total amount of debt to be repaid and that due to lower monthly payments it is very likely that the debt will have to be repaid over a longer period of time.

Debt Consolidation – Debt consolidation is the process of paying off the existing debts with a fresh loan. The loan is generally secured in nature. Debt consolidation is a viable option for small debt burden.

Dealing with Debt

Dealing with a mounting debt burden is daunting task. The global economic slow down and credit crunch have made the task tougher. The burden of unsecured loans and credit card bills is disrupting the smooth functioning of life for many Britons living in Newry. Taking debt advice early is paramount.

If you live in Newry and need debt advice you can either call 0800 074 6918 or you can apply online by simply completing the online form. One of the debt advice team will call you as early as possible to discuss personally to give you debt advice to help you get debt free (subject to terms and conditions).

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