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Debt Management UK - Bankruptcy UK

Debt Amount
Number of Debts
Debt Management Plan UK

One affordable monthly payment
On going debt plan support
The best way to freeze interest and charges
Regain control of your finances without borrowing more money
Informal arrangement which suits your financial situation
Bankruptcy UK

We deal with your creditors for you
Allows you to make a fresh start after 1 year
Creditors must stop most types of court action
Any outstanding debts written off
You keep all personal belongings, like household goods
Individual Voluntary Arrangements UK

Become debt free in 5 years
Payment demands by telephone and letter stopped
Write off up to 75% of your debts
Fixed legally binding agreement
Protection from court action
Alternative Debt Solutions Services UK

Company Voluntary Arrangement
Debt Relief Order
Fast Track Voluntary Arrangement
Scottish Trust Deeds
Debt Consolidation
Government Debt Help
NEWS FEED There were a total of 18,866 individual insolvencies in England and wales in q2 2015, comprising 3,944 bankruptcies, 5,832 debt relief orders (dro’s), and 9,090 individual voluntary arrangements (iva’s).   Iva’s comprised 48.2% of all individual insolvencies in q2 2015, a substantial increase from 23% in 2004 In the 12 months ending q2 2015, 1 in 523 adults (0.19% of the adult population) became insolvent.  In q2 2015 there were 2,907 debtor petition bankruptcies, and 1,034 creditor petition bankruptcies. The total number of people who became insolvent in England and wales decreased for the fourth successive quarter, to the lowest level since q3 2005. 209 people a day are declared insolvent or bankrupt. This is equivalent to one person every 6 minutes 53 seconds. Households in the UK would have paid an average of £1,986 in annual interest repayments. People in the UK owed £1.443 trillion at the end of July 2015. This is up from £1.412 trillion at the end of July 2014 – an extra £604 per UK adult.   The average consumer credit borrowing stood at £3,414 per UK adult in July 2015. Total credit card debt in July 2015 was £62.1bn. Per household this is £2,325 – for a credit card bearing the average interest, it would take 25 years and 4 months to repay if you made only the minimum repayment each month.   On average, a UK household spends £3.10 per day on water, electricity and gas, up from £2.91 in q4 2014. 2,330 consumer county court judgments (ccj’s) are issued every day, with an average value of £2,171.   42 properties are repossessed every day, or one every 34 min 20 seconds. It costs an average of £29.91 per day to raise a child from birth to the age of 21. 53 mortgage possession claims and 38 mortgage possession orders are made every day. 398 landlord possession claims and 323 landlord possession orders are made every day. Average total pay (including bonuses) for employees in Great Britain was £492 per week before tax and other deductions from pay, between march to May 2014 and march to May 2015 .   Total pay for employees in Great Britain increased by 3.2%, the highest annual growth rate since February to April 2010.

National Debt Advice

National Debt Advice is here to help you find the correct debt advice to match your personal circumstances. Finding a debt solution that works for your personal debt problem should be your first priority. However, the best debt advice is most important, after all, taking the wrong debt advice could cost you more than just time and money.

Primarily, In order for you to work out where you need to be in financial terms you should analyse your current personal debt situation. A debt advisor will do this for you.

Debt Solutions

The correct debt solution can be different for everybody and depends mostly on the total debt and amount of creditors owed to. The most common debt solutions that are advised are likely to be Government Backed Schemes which may help most people in financial difficulty. Some of these include:

Benefits for you:

  • Instant relief from financial pressure.
  • Reduce your payments for credit cards, loans, and most outstanding debts to one amount that you can afford.
  • In most cases write off a large portion of your debt.
  • Keep control of finances and stabilise your financial situation.
  • We offer a range of alternative debt solutions to those people who struggle with their finances.
  • Regular reporting on case progress.
  • 7 day a week contact with a debt advisor for any queries on your payment plan.
  • Receive honest and independent advice on their financial situation from reputable company.
  • Re-education on effective budgeting and money management – less likely to suffer again in the future.

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Debt Management Plan

What is a debt management plan?
Who can use this service?
How does it work?
Will I be charged for a DMP?
Benefits of a DMP
Drawbacks of a DMP?
What happens next?


What is Bankruptcy?
Benefits of Bankruptcy
Drawbacks of Bankruptcy
How to go bankrupt
Assets – Your home
Hire Purchase Agreements
Income Payment Orders and Income Payment Agreements
Bankruptcy Restriction Orders
Useful links

What is an IVA?
What is the purpose of an IVA?
How are the monthly payments calculated?
How does it work?
Who can use an IVA?
Who is eligible for an IVA?
Which debts can be included?
Will I have to pay for this service?
  Benefits of an IVA?
  Drawbacks of an IVA?
  The IVA Procedure?
  How the monthly payment works?
Trust Deeds

What are trust deeds?
How do trust deeds work?
Benefits of trust deeds
Drawbacks of trust deeds

Alternative debt solutions

Company Voluntary Arrangements
Debt Relief Order
Fast Track Voluntary Arrangements
Debt Consolidation
Scottish Trust Deeds
Government backed schemes
Money Advice Service

The Money Advice Service is an impartial service set up by the Government. They provide free debt counselling, debt adjustment and credit information services.


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