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Debt Support Service – Your road to financial freedom in 2021!

By | Debt advice, Debt management

DEBT MANAGEMENT SOLUTIONS FOR YOUR FINANCIAL FREEDOM!

Are you feeling weighed down by the burden of debt? Have you been struggling with your finances? Perhaps you’re even on the verge of bankruptcy? – Your road to recovery may be just a phone call away!

With the Debt Support Service, we are here to help free you from the stress and hardships associated with debt. With our fully tailored systematic approach, we’ll establish the best strategy to help you out of your current situation.

The Debt Support Service is fully authorised by the Financial Conduct Authority (the FCA ). The Debt Support Service is a very well-respected debt management agency, known for dispensing professional debt advice in the UK. You can take a look at our website to see which services we provide to those with issues arising from debt, and read testimonials of people like yourself who’ve reached out for help.

  • Individual Voluntary Arrangement (IVA)

An IVA is a legal agreement between you and your creditors. It freezes the amount of debt you owe, whilst you continue to pay it off in manageable instalments. During this time your creditors are not allowed to contact you or hassle you for repayment. Failure to keep up with the agreed instalments may void your IVA, so it’s very important to make your agreed repayments on time.

What can the Debt Support Service do for you?

Once you’ve made contact with us, one of our advisors will check to see if you are eligible for an IVA. If you do meet the required criteria, we can connect you to an Insolvency Practitioner (an IP) who will then initiate your IVA . The IP will assess your financial situation, the time period over which you desire to pay back your debt, and the amount you can afford to pay, before proposing the plan to your creditors. Once approved by your creditors, the IVA can then begin. You’ll then need to make regular payments to your IP who, on your behalf, will make payments to your creditors.

An IVA can be beneficial in many ways – You’ll have the advice and guidance of an IP throughout its term, the option to make flexible monthly payments that are dependent on your specific circumstances, and stop interest from being added to your existing debt.

  • Debt management and debt advice in the UK

When burdened with debt, we can begin to feel trapped. The answer is to seek help from a specialist. By choosing the Debt Support Service, you’ll benefit from the help and advice from professionals who have a huge amount of experience advising with debt management issues and providing debt advice.

 

At the Debt Support Service, we are ready to offer you professional debt advice UK and the support you need to see you through a difficult period.

Don’t delay! Your route to financial freedom is only a call away.

 

Debt Management Plan – Making the Right Move

By | Food for thought

The demand for a debt management plan, the UK has seen a rise in recent years. The economy across the globe has taken an adverse turn. As a result, most of the consumers have to
manage both their expenses and loans at the same time. Based on the latest poll conducted by money.co.uk, over 50% of the UK consumers have entered 2020 in debt, with nearly five million
owing over £10,000 in loans and credit. As per the poll, people set aside on an average, nearly a quarter of their monthly salaries to pay off their debt. On an average, above four million people
have around £10,000 to £50,000 of personal debt. In case of redundancy, especially considering the economic slowdown, a debt of such magnitude will be too burdensome.

Does credit card bills dominate a major part of your mails? Is the incessant ringing of your mobile phone to remind you of your overdue bills bothering you? If the answer to them is yes,
you should probably consider your options to get a prompt relief, which might include a debt management plan, UK. A debt management plan within the UK is one way to solve your credit
problems and pay back your debt. Individuals who not only need advice but also a well laid out repayment plan to get them out of their debt can benefit from a debt management plan, UK.

A debt management plan UK is a debt management help that you enrol in, where a company liaises with the creditors on your behalf to work on agreeing with a reduced interest rate and
new monthly payments. Usually, the debt management plan is arranged in a manner that it should last to a maximum of five years with the aim of paying off consumer debt.

Get in touch with a debt management help provider like Debt Support Service today to get yourself a debt management plan, UK. At Debt Support Service we contact your creditors and
negotiate a repayment plan for you. The two main points to consider with regards to the benefits of a DMP are that it reduces the expense of your monthly dues and the negotiations with your
creditors are managed by a debt management help provider leaving you some breathing space. You can also close a Debt Management Plan early by paying off all your debts. This is done by
increasing your monthly payment or using a cash lump sum to settle the debts.

When you start a debt management plan, the monthly payment you give to the provider is calculated on the basic ground rule that you have sufficient money left over to provide for
essentials. This monthly payment is then allocated among the creditors in proportion to how much you owe them. The debt management help provider will take their fee from this monthly
payment. However, you may need to cut back on spending for a while so as to ensure you are taking one step closer to becoming debt-free.