Christian Debt Management
Christian Debt Management is increasing in the UK
If you’re looking for a good, Christian debt management plan, we can definitely help. With UK debts in excess of £1 trillion, it’s a good time to ease your debts before they spiral out of control.
Money Advice Direct receives many referrals from Christian church ministers and this is set to increase as the Church of England pay attention to the rising problem.
Many christian churches have developing debt ministries in at their churches. Christian churches can really help people in debt and offer instruction on how to teach on debt issues.
With a Christian debt management plan, we can help you to clear all of your debts. We can help people who have:
- Unsecured loans and difficulty repaying them.
- Good equity in their property, but are unwilling to remortgage or take out a second loan.
- Debts that are being kept private from family, friends and neighbours.
- Difficulty in calculating and budgeting to clear their debts and need help from a specialist with finances.
Our debt managers will assess all of your debts, and then contact your creditors to negotiate a lower interest rate. We will also look at adjusting the repayments to meet your budget needs. This way, your debt can be cleared in achievable steps, rather than becoming overburdened by high demands.
IVA stands for Individual Voluntary Agreement, and these are often sought when a debtor has attempted to arrange a Christian debt management plan with their creditors, but had their application rejected.
With IVA’s, a repayment schedule is usually set out for a five year period, with the agreement being a legally binding agreement. Due to the formal, legal nature of these agreements, a licensed insolvency practitioner will need to be involved when the agreement is signed.
Bankruptcy is often used by those with no form of employment or income and is usually as a last resort to clear all debts. Those who fail to meet the requirements of a Christian debt management plan and are also unable to agree on an IVA may find declaring bankruptcy as their best way of clearing their debt.
The effects of clearing all debts by declaring bankruptcy are dramatic and have a long term effect on the person declaring bankruptcy. On the positive side, if the debt has become unmanageable and repaying the debt is impossible, it may be the best solution to your problems.
Money Advice Direct is an established provider of confidential and non-judgemental debt advice in the UK on serious debt problems. Whatever solution we recommend, honest, best advice is available 24 hours a day, 365 days per year. If you are in debt call us without obligation today on 0800 074 6918 or apply for christian debt help online.
Listed below are some of the frequently asked questions on Debt Management Plans
- How do I know whether a Debt Management Plan is right for me?
- What are the advantages of a Debt Management Plan?
- What are the disadvantages of a Debt Management Plan?
- Is a Debt Management Plan a type of loan?
- How long will I have to pay a Debt Management Plan before I am debt free?
- How much does a Debt Management Plan cost?
- How much money will actually go to the companies I owe money to under a Debt Management Plan?
- How do I make the payments?
- If I have a change of circumstance can I stop the Debt Management Plan?
- Who tells the companies I owe money to that I am actually in a Debt Management Plan?
- Will the companies I owe money actually accept a a Debt Management Plan?
- How a will Debt Management Plan affect my credit status with Experian, Equifax and Callcredit, the three main credit reference agencies
- Will a Debt Management Plan stop all the companies that I owe money to constantly telephoning me and sending me letters?
- Will I receive a regular report to inform me that my debts are actually going down?
- After the Debt Management Plan is set will I receive be able to get any additional help and advice?
- After the Debt Management Plan is set up can I still use a credit card or apply for car finance if I budget for it?
- Once the Debt Management Plan has been set up does it mean that I will have to keep paying interest and bank charges?
- Can I include secured loans in a Debt Management Plan, such as car finance or mortgage?
- Can the companies that I owe money to threaten to take my house or flat once that I am in a Debt Management Plan?
- Can I include all my debts in a Debt Management Plan?
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IVA's
The IVA Guide
Money Advice Direct has put together an IVA Guide based on the enquiries and questions that we receive at our helpline offices.
In the guide we cover such subjects as IVA Approval, early settlment of your IVA, missed IVA payments, IVA failure, additional debt claims and much more.
[click here for IVA Guide]
What is an IVA?
The IVA is an extremely powerful tool enabling you to clear your debt and return to a clean financial bill of health. Visit Money Advice Direct's Guide to Individual Voluntary Arrangements (IVAs).
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DANGER
Due to the tremendous demand for debt consolidation services the United Kingdom is now overloaded with debt management companies that contain misleading information. [more...]