When it comes to reasons causing stress, there are very few things in your daily life that can compete with debt. It won’t be an exaggeration to say that an unpaid debt can cause more stress than any other situation. On top of that, you might also find this matter to be a little complicated.
If you’re confused about how to get through this situation, perhaps some advice would be helpful. In that case, there are a lot of people who are experts in this matter and offer you their services. Find the right one and that can take you quite a long way in dealing with all types of debts. You can get in touch with the Debt Advisory Centre UK and get the requisite advice before you take any step further.
What should you look for in a Debt Advisory Centre?
There are quite a lot of options to choose from when it comes to debt advisory services. Now, for such a serious matter, you would want only the best advice. Looking at certain aspects would help you in finding the best debt advisory service:
Free of cost
In a debt-ridden condition, you wouldn’t be looking to shell out money on advice, rather than on your necessities. After all, you need to save as much as you can to pay off the debt. For that reason, many advisers offer their services free of cost. Moreover, their services can be as good as the ones who charge a fee. You just have to find the right Debt Advisory Centre UK after considering some other aspects apart from the cost.
If you’re looking for a debt advisory service, you would want to find one that has a good reputation. In such a case, knowing what their former clients say about them would be helpful. That won’t be a difficult thing at all as you can simply read the reviews they have got. If you know someone who took their services, they might be of some help to you in this matter.
In the situation that you’re facing, you probably wouldn’t have any time to waste. You need to act quickly and find some solution to your problem as soon as possible. The kind of technology that we have today has made that possible. Too much delay in your debt repayment can get you into trouble, even lead to court action.
So, look for a Debt Advisory Centre who provides you with solutions with just a phone call or online chat. Furthermore, almost all debt advisors have gone digital with their services, since the outbreak of the Covid-19 pandemic.
Which matters Exactly can Debt Advisers help you with?
There are many kinds of debt-related matters that you might need solutions for. It is rarely possible that you won’t have a good advisory service that won’t be able to help you.
Since there are thousands of people who fall into debt every year, experienced debt advisers would have come across all kinds of problems. Here are some of the common matters that they can help you with:
Among all debt-related problems, bankruptcy is probably the most common one that debt advisers get consulted for. That’s because it is something that can turn your life upside down, especially if you own a business. So, if you’re facing bankruptcy, you must find a good adviser who would guide you through the process. Luckily, many expert advisers will help you free of cost.
Individual Voluntary Arrangement (IVA)
If you’re getting an IVA to write off your debts, you need to consider Debt Advisory Centre UK before making any major decision. Since they get consulted very commonly on this matter, well-established debt advisers have great experience in it. Apart from whether you should opt for it, they can also help you with all the little details of an IVA. In case you aren’t eligible for it, they can help you explore the other options available too.
Dealing with Debt Collectors
Are you being hassled with multiple phone calls, from debt collectors? In case, you haven’t experienced this before, you might not know that this is a common tactic they use. The obvious motive behind this and many other techniques they use is to make you pay the entire debt. Understandably, you would want them to stop. Contacting a debt advisory service would surely be helpful for this purpose.
Debt Management Plan
If paying the full amount of your debt is unaffordable at the moment, you might want to find an alternative. In that case, a debt management plan might be suitable for you. You must take the help of a debt advisory service on this matter. They will help you deal with the creditors to get you an affordable payment plan, that too on favourable terms. In addition to that, they can also assist you with any problems that arise during the process.
Unpaid Tax Bills
A lot of people are facing difficulty in paying their tax bills. You’ll get reminders from the authorities at first, but they’ll take action if you ignore or delay the payment. Since tax bills are priority debt, you must arrange to write them off as soon as possible. If you’re stuck in a difficult situation and are confused, give debt advisory services a try. They can provide the guidance you need to free yourself from all your tax arrears. In fact, they can also help the authorities settle for half of what you owe. That way it becomes considerably easier for you to write off the debt.
Debt Relief Order
When you’re unable to afford the debt you owe and other options aren’t suitable, a Debt Relief Order might be viable. You can apply for it in court and it gets passed, all your debts will be frozen for a year. If your financial condition doesn’t improve, your debts will be written off. Now, there are many parts in this process for which you might want to consult an advisory service. In fact, it won’t be a bad idea to stay in touch with an adviser since the beginning of the proceeding.
Debts that have crossed their time limit
People often get demands for repayment, even after the time limit for collecting it has passed. Now, not all debts have the same time limit for the recovery. In any case, a debt advisory service can help you in tackling this situation as well. These types of debts are called statute-barred debts and are not exactly written off.
Your creditors can still recover them, but they are not allowed to use some of the methods. Also, it would be better to write it off, or it’ll show on your credit file. Therefore, you can consult an adviser if need be and find the best way to get this debt written off.
Full and Final Settlement
In some cases where you can’t afford to pay, you can write off your debt by paying a lump sum if the creditor agrees to it. If you’re wondering whether a debt adviser can help you out with this as well, then the answer is Yes. In fact, you can get the creditors to settle for an affordable amount with assistance from an advisory service.