Debt Help UK

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Reduce your debts quickly
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No more embarassing phone calls
Protection from your creditors
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Fill out our no obligation form today
and you could soon be seeing
a brighter future too.

A Real Life example of how our services changed
one customer's life for the better...

Mr A. of Guildford contacted us in October 2006. He was at his wit's end. Having purchased his home earlier that year, he had no equity to borrow against, and the mounting costs of his new home and supporting his wife and two young children had quickly put him £50,000 into debt.

His monthly minimum payments were over £900, and even at this level he was only repaying the interest each month - the original debt was not even reducing. After his mortgage and these payments, there was barely enough left for his family to live on.

Gradually things got worse. Mr. A. started to miss payments on his credit cards and mortgage - his wife was concerned that they were going to have their beautiful new home repossessed by the building society. She saw one of our adverts and begged him to take action before it was too late.

Our professional qualified advisors arranged an Individual Voluntary Arrangement (IVA) for Mr.A which meant that his debts could be repaid at £325.83 per month, payable over 5 years. Now he will repay a total of £19,549.80, instead of the £50,000 plus interest that he owed. Over the 5 years, that's a saving of over £84,000! Yes, just by talking to us, Mr. A saved over eighty four thousand pounds.

Mr. A and his family are now more relaxed and confident that they have enough money to pay their mortgage and enjoy the good things in life. And best of all, in 5 years, they will be 100% debt free.

Finding Help for Your Debt

In terms of debt help, UK residents are definitely in need of it. According to consumer reports in September of 2008, the total consumer debt of the UK has reached well over the £1.4 trillion. These figures were gathered based on existing home mortgages, auto loans, credit card debts, and the like. If you would take into account each family in the UK,that means about £60,000 is owed per household. The consumer debt of the UK has been projected to increase by about 5% every year.

With these scenarios in mind, debt help UK has opened up various avenues to help people reduce their dues and manage their finances more wisely. If an earner is unable to clean up his bills and his loans, he winds up paying more because of interest rates and overdue fees. At the same time, this cripples his credit rating badly. With a poor credit score, one will have difficultly filing applications for insurance, auto loans, home mortgages, and even credit cards.

Aside from lack of budgeting, another big culprit in debts in the UK is the credit card. With these plastic forms of money, people tend to be careless about what they purchase. In the earlier part of 2008, nearly £70 billion is owed by UK credit card holders to their respective companies. Add to that number the millions of new credit cards issued annually, and you can expect several additions to the list of indebted citizens.

To be able to resolves these crises, you can get debt help in the form of debt consolidation loans. These may also be called credit card debt consolidation, since you are getting a huge loan to pay off all existing credit cards balances. In this way, you only have to pay monthly to one institution, and that is your debt consolidation firm. There are different qualifications and requirements before a client is approved for debt consolidation. Furthermore, the credit rating of the intended borrower will also affect the decision on how much the monthly dues will be, plus the fixed interest rate, and the loan term.

As you can see, debt help UK comes in many forms, depending on your current needs and financial situation. Once you are able to bounce back after paying off your debts, it is always advised that you start spending smartly, and allot a specific budget to pay off your monthly bills. Remember, your credit rating can tell a lot about you and your financial health, so it is best to maintain it well. GP

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