IVA and Debt Advice across the UK including Sheffield

Freephone IVA & debt advice covering the entire UK including South Yorkshire 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.

Sheffield is a city and metropolitan borough in South Yorkshire, England. The name is derived because of its origins in a field on the River Sheaf that runs through the city. Many people in Sheffield have problems making ends meet. This is for a variety of reasons such as unemployment or ill health.

Debt-ridden customers from Sheffield have swamped Money Advice Direct ) in recent weeks, as recession grips the country. The national debt advice team covering the entire UK, including South Yorkshire has seen a similar rise in people seeking help. To meet demand the confidential and non-judgemental advice service has been expanded to offer extended services. This should mean Money Advice Direct are in a position to help more people with their debt problems.

Many people in Sheffield are struggling under the current financial pressures, making it more important than ever that individuals take stock of their situation before it reaches a critical point.

Sheffield residents are suffering serious debt problems

The number of residents of Sheffield residents seeking debt advice soared by 220% in since last year. The regional debt advice team covering Sheffield reports that unsecured debt for home owners rose to £46 Million. The number of home owners have been approaching the freephone debt helpline with existing mortgage or secured loan arrears increased by 25%.

• Debt Management to clear personal debt in Sheffield
  Money Advice Direct has seen a significant shift in the number of clients who are home owners looking for help from debt management in the last six months. The increase in the average level of unsecured debt for home owners who signed up to our debt management plan is also a concern. This is highly indicative of the debt problems that families are facing, particularly with the threat of job losses or loss of income making it hard to see how they can stay on top. Read more about Debt Management Plans.
• IVA to clear personal debt in Sheffield (subject to terms and conditions)
  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. It is a genuine method of avoiding bankruptcy while still being subject to a formal insolvency procedure. Read more about IVAs here.
• Debt Consolidation to clear personal debt in Sheffield
  Debt Consolidation or remortgage - Debt consolidation means you take out a single loan to pay off all your other existing debts. This often means you get a lower interest rate, which also makes your overall monthly repayments lower. Debt consolidation simplifies your repayment arrangements. Unlike Debt Management, where your previous debts are not cleared, a Debt Consolidation Loan clears all old debts once and for all. The key benefits of debt consolidation are reduced financial commitments and less risk of late payment fees. Read all about Consolidation loan or Remortgages here.

Advice Guide from the Sheffield debt advice team

• Be realistic about what you can afford. The worst way to do buy items in a panic, pushing everything on to your credit card.
• If you can afford to pay cash, don't take out credit unless it really does work out cheaper.
• If you're using credit, shop around for the best deal and check the repayments are within your budget. Be wary of "buy now, pay later". Are you sure you'll have the money then? There are usually heavy penalties for late payment.
• Study the terms and conditions of any credit agreement. Ask if anything is unclear before signing.
• Store cards are usually more expensive than credit cards. Some charge 30 per cent interest.
• Don't run up an overdraft without talking to your bank. This will be much more expensive than if you OK it beforehand.
• When it comes to paying bills, prioritise mortgage or rent, gas, electricity and council tax.
• Are you a lone parent, on a low income, unemployed, or a pensioner? Are you getting all the benefits you are entitled to?

Live in Sheffield? Can’t pay your debts? Need advice on what to do? If you fall behind on paying your debts, you should get help as soon as possible, before the debt becomes too large and you risk losing your home.

If you're in over your head financially, never ignore it or hope it will go away. It won't. Get non-judgemental & confidential advice from Money Advice Direct 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