IVA and Debt Advice across the UK including Portsmouth

Freephone personal debt advice for the whole UK including Portsmouth on 0800 074 6918

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.

Portsmouth is a city located in the county of Hampshire on the south coast of England. Portsmouth is the UK's only island city and is located on Portsea Island. Portsmouth is commonly nicknamed Pompey. Portsmouth has the highest level of deprivation in the south of England and a concentration of people claiming benefits.

Helping 1000's of new clients each year in Portsmouth, Money Advice Direct’s professional and experienced debt advisers may help to find your best debt solutions within 24 hours.

A debt advice team covers the whole UK including Portsmouth. The debt advice service will tackle Portsmouth's spiraling debt problems. The personal debt advice service aims to help over 1000's of people accross the UK including Portsmouth who will seek debt and money advice each year. The advice team at Money Advice Direct want everyone in the UK including Portsmouth to know that the national service is there for them for general help and advice, no matter what level of debt they are in so they can get debt free (subject to terms and conditions).

Money Advice Direct is available to make a real a impact on issues like debt, bankruptcy and debt management. The following schemes are the most popular methods for clearing personal debts in the UK.

• Debt Management Scheme - Where is not possible to enter into formal insolvency proceedings such as an Individual Voluntary Arrangement or a Bankruptcy order it is sometimes worth looking at an Informal Arrangement. In the UK if you are in debt but your disposable income is very minimal, i.e. under £50 or even £100 you may need to consider a debt management scheme.
• Individual Voluntary Arrangement (IVA) - An IVA is an alternative to bankruptcy; a person can enter into an IVA and pay the maximum possible amount to the creditors to repay their debts. These are seen as a preferable option than Bankruptcy.
• 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. 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).

 

Money Advice Direct national debt advice team covers the whole of the UK including Portsmouth:-

• Cosham, Portsmouth PO6
• Drayton, Portsmouth PO6
• Eastney, Portsmouth PO4
• Fratton, Portsmouth PO1
• Hilsea, Portsmouth PO3
• North End, Portsmouth PO2
• Portsea, Portsmouth PO1
• Portsmouth, Portsmouth PO5
• Southsea, Portsmouth PO4
• Wymering, Portsmouth PO6

Are you in debt? Please note the debt warning signs.

Personal debt in Portsmouth has more than doubled in the last few years and now stands at a staggering £10 million. It is one of the biggest issues affecting households across Portsmouth and Hampshire. Some households in Portsmouth owe tens of thousands of pounds and others owing much more. The following are the debt warning signs:-

Money running out before the end of the month
Workers in the Portsmouth are running out of money in their current accounts before payday, it has been revealed by the regional debt advice team. A staggeringly high number of people in Hampshire regularly fail to budget effectively each month and end up running out of cash before their next pay day.

Spending too much money on Christmas and School Holidays
Christmas, Easter and other School holidays seem to come around quickly. If you're in a state of denial about your credit card bills or still paying off the summer holiday the thought of spending out on all the Christmas expense can send you into a cold sweat. But there is still time to get your finances in some kind of order before the seasonal festivities kick in.

Paying your mortgage using credit cards
According to the regional debt advice covering Hampshire, more than ten thousand households in Portsmouth have used credit cards to pay their mortgage or rent.

Making the minimum payments on your store cards and credit cards
By making the minimum payment every month, debts take months to repay in which time the borrower will have to massive interest bills alone meaning that the total amount repayable will be enormous. That is, unfortunately, what the minimum repayment is designed to do. Instead of encouraging you to repay the debt quickly, the lender wants you to take as long as possible, meaning that your debt accumulates more and more interest.

Having little or no savings to fall back on
A survey of 2000 residents of Portsmouth conducted by the regional debt advice team showed that more than half of employees had less than four months' salary set aside for a rainy day. For anyone with less than four months' savings they should be focused on clearing any debt and building a sensible amount of savings before they think about other financial products. In the current financial climate, people should consider their savings in light of other financial pressures, and what would happen if they were made redundant.

Advice for Divorced, Separated and Single Parents in Portsmouth
The advice team at Money Advice Direct says single parents and people who are divorced or separated in Portsmouth are particularly vulnerable to bankruptcy, insolvency and other problems associated with serious debt. These findings are based on reports that many of those seeking help for their debts living in Portsmouth blamed their problems on the fact they were either divorced, separated or single parents, and the sheer level of the debts involved shows there is a risk of serious problems and bankruptcy for people in those situations.

Money Advice Direct understand that getting the right debt advice at the right time can mean people don't lose their home. The debt advice team covering Portsmouth's centre will really make a difference for people who would normally have to seek advice from loan sharks or the debt management companies that advertise in the red tops or on TV.

Money Advice Direct offers non-judgemental and confidential debt advice and provides information and advice on the various options available according to the individuals situation. For more on avoiding bankruptcy, call 0800 074 6918 or apply online.

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