IVA and Debt Advice across the UK including Salford

Freephone IVA & debt advice across the UK including the Greater Manchester area 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.

Salford lies at the heart of the City of Salford, a metropolitan borough of Greater Manchester, in North West England. Salford is located by a meander of the River Irwell, which forms its boundary with the city of Manchester to the east.

The number of people seeking advice on coping with credit card debt has risen by more than a third in the last year, according to the national debt advice team covering Salford, Greater Manchester. Requests for advice on credit, store and charge card debts and unsecured personal loans were up by 50 per cent, although this type of debt was still the subject of 35 per cent of debt-related enquiries. The increase in enquiries about personal debt is worrying. These figures show how the current economic situation is hitting vulnerable and low-income households in Salford the hardest.

Debt Advice across the UK including Salford, Greater Manchester

Salford residents who are struggling to cope with their debt problems are being offered a lifeline by Money Advice Direct debt advice service covering Salford and Greater Manchester. The new debt advice team will provide specialist assistance to those who feel they may be facing financial difficulties which could put their home at risk – will be available 24 hours a day by calling 0800 074 6918 or by logging onto www.insolvencyhelpline.co.uk.

Assistance with benefit entitlements, drafting letters to lenders, budgeting and financial advice and guidance for access to the Government's new Mortgage Rescue scheme will all be on offer. Money Advice Direct has been inundated with requests for money help and the service has been created in response to those calls. The service also recognises that the Government’s Mortgage Rescue scheme will only help a small number of homeowners, as the current eligibility criteria stipulates that the property value cannot exceed £145,000, all options with the mortgage lender must have been exhausted and there must be no negative equity.

Dealing with personal debt – Advice for Salford Residents
If you still find yourself unable to manage your debts, then a member of the debt advice team at Money Advice Direct will speak to your lenders to discuss your situation. Your lenders may be willing to accept an alternative payment plan or a short repayment holiday in order to help you get back on track.

Debt consolidation
A debt consolidation loan is a new loan that pays off your existing debts – effectively ‘consolidating’ several debts into one. This means you will only have to make one repayment each month, which can make managing your finances a lot simpler. One of the main advantages of a debt consolidation loan is that by spreading out your repayments, you can reduce your monthly outgoings. However, be aware that you will pay more interest than if you had kept the shorter repayment period.

Debt Management Plan
A debt management plan is an informal agreement between you and your lenders as to how you intend to repay your debts. It’s technically possible to arrange this on your own, but many choose to do it through a professional debt management company, who can negotiate with creditors and manage all transactions on your behalf. If you do arrange the plan through a debt management company, you will usually make regular monthly payments to the company, who will distribute the money between your creditors accordingly. Before starting a debt management plan you should be sure that you can afford to make your new payments, and that you won’t risk getting into further debt by continuing your spending. If you are not sure, then another debt solution might be more appropriate. Read more about Debt Management Plans here.

IVA (Individual Voluntary Arrangement)
An IVA is a legally-binding agreement between you and your creditors, allowing you to avoid bankruptcy by agreeing to pay off a percentage of your debts over a set period of time, and write off the rest. Before you enter an IVA, an Insolvency Practitioner will work with you to put together a proposal and send it to your creditors. For an IVA to go ahead, creditors accounting for at least 75% of your total debt must approve the proposal. Once the IVA begins, you will make regular monthly payments to your Insolvency Practitioner, who will distribute the money between your creditors. This usually lasts for five years, and on successful completion your remaining unsecured debts will be considered written off. To apply for an IVA please click HERE

Do you live in Salford, Greater Manchester?

Money Advice Direct national debt advice service covers the entire UK including the following areas of Salford and Greater Manchester:-
Bury • Prestwich • Radcliffe • Ramsbottom • Tottington • Whitefield • Bolton • Farnworth Blackrod • Horwich • Kearsley • Little Lever • Turton • Westhoughton  • Ringway • Oldham  Chadderton • Crompton • Failsworth • Lees • Royton • Saddleworth • Rochdale Middleton • Heywood • Littleborough • Milnrow • Wardle • Eccles • Swinton and Pendlebury Irlam • Worsley • Stockport • Bredbury and Romiley • Cheadle and Gatley • Hazel Grove and Bramhall • Marple • Tameside  Ashton-under-Lyne • Dukinfield • Hyde • Mossley • Stalybridge • Audenshaw • Denton • Droylsden • Longendale • Trafford • Altrincham • Sale • Stretford Bowden • Hale • Urmston • Bucklow •Wigan • Leigh Abram • Ashton in Makerfield • Aspull • Atherton • Billinge and Winstanley • Hindley • Ince-in-Makerfield • Golborne • Orrell • Standish-with-Langtree • Tyldesley •Wigan

There may be situations in which you can’t come to an agreement with your lenders, in which case a more specific debt solution might be more appropriate. The confidential and debt advice line is provided 24 hours a day, 365 days each year on 0800 074 6918. Alternatively, people may apply for debt advice online at www.insolvencyhelpline.co.uk for advice on how to 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