Financial Problems
Confidential and non-judgmental advice on financial problems to get debt free (subject to terms and conditions)
Money Advice Direct aims to help people who have financial problems in England, Wales, Northern Ireland and Scotland. The service is completely confidential and non-judgemental. The service provides self-help advice to its callers and also produces written factsheets too. The service can also assist callers with the setting up of Debt Management Plans, IVAs, and Bankruptcy for those with financial problems who want to get debt free (subject to terms and conditions).
This section of the site will provide an overview of your options and choices when faced with financial problems. If you are in debt you may be tempted to call the companies seen advertising in the tabloid press or on TV. These companies are staffed by sales people who can often make financial problems worse making you enter in debt solutions that are inappropriate.
Call 0800 074 6918 to speak to the debt advice team about solving your financial problems
Many financial problem advice companies exist to make money. Money Advice Direct only offer “best advice “ and offer solutions that will solve financial problems – not make matters worse.
Are you suffering Financial Problems – These are the main options in the UK
- IVA to clear financial problems
Many people contact Money Advice Direct who are facing financial problems over £20,000. - Debt Management Plans to solve financial problems
If your financial problems are serious but you do not qualify for an IVA then a Debt Management Plan may be the best debt solution. - Bankruptcy to clear financial problems
A lot of people come to Money Advice Direct with a misunderstanding of the bankruptcy process. The first step for bankruptcy option is to recognize and admit that the financial problems are beyond repair. - Protected Trust Deed to clear Scottish financial problems
In Scotland the protected trust deed procedure is there to avoid bankruptcy. Solving your financial problems with a trust deed takes a lot of commitment because the process is a three year plan.
Signs that you have financial problems
If you are struggling with debts you are not alone. For some people, trying to manage their financial problems is an impossible task as they try to battle on each month with their finances. Please find below a list of debt warning signs:-
- Your bank account is always overdrawn. The best way to identify financial problems is prepare a budget so see exactly what your spending.
- You pay the minimum payments only on your debts. This only makes your financial problems worse because some store cards have interest charged at 20% each month.
- Your credit cards are “maxed out” or at their limit.
- You are surfing the internet reading debt advice forums. Please note that there is such a rising debt problem in the UK that the store card and credit card companies are quite actually understanding of financial problems and will want to help you.
Money Advice Directs team of experienced advisors will talk with you about your financial problems and always provide you with best advice. Call us free on 0800 074 6918 to find out more or apply online.
Debt Advice - Information Centre Menu
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IVA's
The IVA Guide
Money Advice Direct has put together an IVA Guide based on the enquiries and questions that we receive at our helpline offices.
In the guide we cover such subjects as IVA Approval, early settlment of your IVA, missed IVA payments, IVA failure, additional debt claims and much more.
[click here for IVA Guide]
What is an IVA?
The IVA is an extremely powerful tool enabling you to clear your debt and return to a clean financial bill of health. Visit Money Advice Direct's Guide to Individual Voluntary Arrangements (IVAs).
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DANGER
Due to the tremendous demand for debt consolidation services the United Kingdom is now overloaded with debt management companies that contain misleading information. [more...]