Get one affordable monthly payment
Reduce your monthly payments.
Stop all creditors contacting you
Reduce a percentage of your unaffordable debt.
Consolidate all unsecured debt
Confidential & No obligation service.
- Flexibility of expenditure – helps to ensure affordability.
- Perceivable that the client may be able to retain assets.
- Payments are negotiated with Lenders on your behalf – legal obligation to accept payments.
- Payments reduced – makes debts affordable, as based on your affordability.
- Unable to deal with HMRC debts.
- No fixed period of repayment.
- No guarantee that lenders will freeze interest and charges.
- No protection from lenders/legal action.
- Credit rating affected.
- Unable to deal with HMRC debts.
- No fixed period of repayment.
- No guarantee that lenders will freeze interest and charges.
- No protection from lenders/legal action.
- Credit rating affected.
IVA
The individual voluntary arrangement is a formal agreement between you and your creditors, allowing you to make affordable payments to your debts over a fixed period (usually over five years) with the remaining debt written off at the end. A solution for people with debts over £5,000. An IVA could help you write-off a proportion of your outstanding debts and pay one affordable monthly payment.
DMP
A debt management plan, helps you manage your debts and repay them at a more affordable rate by making reduced monthly payments. A DMP may be a suitable debt solution if you have money left over each month once you’ve paid your priority bills and costs such as rent or mortgage, food and utility bills. Any money left over will go to your creditors.
To learn more about effectively handling your finances and receiving valuable advice on managing debt, you can visit MoneyHelper. This independent service was established to assist individuals in managing their money better.
Are you concerned about being in debt? The burden of debt can be highly distressing and is a prevalent source of anxiety.
Fortunately, you’re not alone, as LAMDUk is here to assist.