Personal Debt Advice Solving Debt Problems

Here are some facts about debt you need to know if you're looking for debt advice:

• 3.4 million UK adults in some form of serious debt, so you're not alone
• The average debt is £25,115, although 9% of people have debts of over £60,000
• Women are even more affected by the pressure of serious debt than men, with 75% saying they are not sleeping because of debt-stress (compared to 61% of men)
• Despite these high levels of stress, 15% of people still have not talked to anyone about their debt problems
• Almost 48% of people in serious debt pay for their debt solution, although there are lots of free alternatives
• A fifth of people on debt management plans will take more than 10 years to pay them off
• Over 10 years, average charges add almost 20% to the cost and 21 months to the repayment period

Those in serious debt can find themselves having to opt for extreme solutions such as bankruptcy to keep themselves afloat. But there are other options – you just need to know when to ask for help and to make sure you get the right personal debt advice for your needs, without paying through the nose for it.

You may have heard about debt solutions like debt management, IVA's and bankruptcy. You may even know a bit about them and have an idea which you would prefer. But what you need to also know is insolvency law is complicated as is the process of understanding which solution is right for your circumstances and will be accepted by your creditors. This is where debt advice that is free from commercial preassure is needed, and something we're set-up to help with.

What's The 'Right' Debt Advice?

When we talk about finding the right debt advice by ‘right’ we mean the advice that recommends a debt solution that:

• Is going to pay your debts off the fastest with the least money
• Protects assets like your home
• Minimise damage to your credit rating
• Return you finances back to health in a known period of time

Comparison Table Of Debt Solutions