Nottingham is one of the three main cities in the East Midlands alongside Leicester and Derby. The advice from Help With Debt advisors is free to anyone within Nottingham. If you have a debt issue that is worrying you, call a debt helpline today and take the first steps to becoming debt free.
Due to the credit crunch the usual methods of obtaining credit have ceased to be available and unemployment is on the rise nationally. The amount of debt that the average person in Nottingham has who is contacting us is in the region of £30,000. Via our solutions we can help clear that debt.
Help With Debt advisors expect tens of thousands of individuals will need assistance with debt in Nottingham over the next year as unemployment bites and credit supplies are squeezed still further.
Help With Debt advisors offer a full range of debt products and services including consultancy, advice and practical help whatever your situation. The debt advice services are free and prides itself on always providing best advice for clients seeking debt advice
• IVA – The IVA is well used alternative to bankruptcy which was brought in in 1986. The IVA allows a person to propose a settlement to those he owes money to. It is based upon what he can afford not what he is obliged to pay. The IVA once accepted binds all parties irrespective of whether they voted in favour of it or not and prevents any further action such as bankruptcy.. In most cases an IVA will last for 5 years. The IVA has had a bad press over recent years as too many companies sold them for profit and not because they were best advice. We only recommend and IVA where it suits you to have one. Debt Management – A good Debt Management Plan will again allow someone to repay their debt at a rate they can afford for either a short time or for longer, as the situation determines. If your debt problem is temporary and your situation is likely to improve then a debt management plan could be the best solution. It should be noted that while the debt management company will attempt to get the creditor to cease interest and charges, these may continue thereby increasing the debt level over a period of time. A Debt Management company will tell you that they can reduce your debt payments and they will deal with your creditors for you. Most debt management companies will charge you anything from 15% to 20% of the amount you pay to your creditors as a fee. This is pretty standard for the industry.
• Bankruptcy - Bankruptcy is an option for someone who is insolvent and maybe who has a lot of debt but no assets. The Bankruptcy proceeding has two aims; To free the individual from the pressures of creditors (people they owe money to) to enable him or her to make a fresh start. Bankruptcy only lasts for a year and you will be debt free the moment the order is made. If you have disposable income, you may need to make some payments to the Official Receiver for a maximum of 36 months. These are called income payment agreements. A Debt Help Advisor can advise on how best to minimise these and also help you fill out the large and complicated forms that are required.
Tuesday, 1 September 2009
I've been away, but it's good to be back.
It seems ages since I updated my blog with any relevant info. I had a bit of a week working with the other half, but now I'm back. Check out the latest peices of information.
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