Help with Debt

We have in house dedicated qualified professionals covering insolvency through to mortgage and money markets.

Free Debt Advice
 
 
Legal Assistance
1980 Limitation Act
1986 Insolvency Act
2000 Insolvency Act
IVA Calculator
IVA Explained
Business IVA Explained
Mortgage Jargon
Bankruptcy Pros & Cons
IVA Pros & Cons
Time Order
Inland Revenue & Customs & Excise (agreement)
Pros & Cons
Mortgage Calculator
Debt Purchase Pros & Cons
Loan Consolidation Pros & Cons
Repossession Actions One Might Take
Re-Mortgages
Debt Purchase
Debt Management
Loan Consolidation
Repossession


Other Services

If in Mortgage Arrears or Repossession. Protecting your home
Repossession, What can one do?
Debt Crises
Bankruptcy, Avoid The Stigma
Insolvency, Financial Solutions

Consolidate Mortgage Arrears and Debt without Further Borrowings.

A Tough Road Ahead

As credit crunch bites, many people find themselves in a difficult position in the servicing of their current mortgage and outstanding debts.

Many have overstretched themselves to the point that it is more difficult to re-mortgage than before as the criteria tightens and house prices fall.

DEBT
Finding you are unable to cope?

Our qualified professionals assist in finding solutions to best suit your circumstances

Taking the right route
Why not let us restructure a solution

Debt Direct Ltd feels they are in a better position to negotiate on your behalf and offer alternative solutions to resolve your difficulties.

An IVA is a useful tool but like any other product it can have its drawbacks, at Debt Direct Ltd we try to achieve a balance between creditor and debtor and feel we can offer alterative solutions which could be more beneficial to suit your needs.

Debt Direct Ltd being a solution based company extends to many areas of finance and debt negotiation.

Recent trends within the financial sector have left people in disarray as mortgage rates rise and further restrictions on capital raising, many people cannot see light at the end of the tunnel, however you cannot put your head in the sand, you have to seek a solution.

 

In Need of Assistance

We May be able to Help

Why not Phone the Advisor

Freephone

01305 832104

ZZZZZ

Is It Time To Change Your Lifestyle
By Putting Your Financial Affairs in Order?

So our message is, be careful, seek a positive solution and

ACT NOW

Putting your affairs in order is like giving up cigarettes. there is a solution, but you also have to have the will power to see it through as it can be difficult at times.

Further borrowing is not always the answer, however it can be a short term solution in some cases so therefore one has to think carefully of how to resolve their financial problem, be it mortgage arrears or overstretched credit cards, there are many issues that can put pressure on individuals and families.

Phone 01305 832104

We All Have Choices
Call Us!

Debt Direct Ltd has recently extended its services whereby we provide a financial rescue for both Private Individuals and Business alike. Debt Direct Ltd has had great recent success in the negotiation with HMRC. Debt Direct Ltd strives to obtain a balance so that creditors and debtors alike live in harmony in the settling of outstanding Debts.

Debt Direct Ltd assists where others do not in repossession / IVA help and advice as problems come in many formats. At Debt Direct Ltd we believe there are choices, however it’s up to the individuals themselves as to whether they want to resolve the problems in question.

In the financial and business sector, Debt Direct Ltd can give a life support in that it can negotiate with HMRC and Creditors alike to the negotiation and the continuation of their business. IVA Business Rescue provides such assistance.

Debt Direct Ltd> is constantly extending services to other areas of finance and therefore it is worth noting that a free assessment is on hand. Most services surround debt in some form or another and therefore one has to look at what financial options are available.

 

These are two responses we have received from recent clients

"I was dispondent with nowhere to go"

"My flat had just been repossessed on the 13th December 2007, it was obviously going to be a lousy Christmas until a friend of mine advised that I should contact Debt Service Advice.

I had no family in the area and my father was abroad, I was alone and couldn't afford legal help. Debt Service Advice gave assistance through their legal advisors resulting in my flat being returned. With the assistance of Debt Service Advice and my father who had then returned I was able to negociate with my mortgage provider.

The repossession order has now been lifted which has taken a weight of my mind, however I still had substantial debts.

Debt Service Advice asked me to complete a personal apprisal which included an Incomes & Expenditure, they were then able to enlighten me to my options. It would appear that my best option was an IVA, an Individual Voluntary Arrangement, whereby I pay a sum per month to my Insolvency Practitioner, this itself is payment in respect of all my debts.

I now feel I can get on with life and have recently started a new job and I am looking to a new future with happiness in mind.

Debt Service Advice has been there throughout, even over Christmas and would recommend anybody in a similar position to contact them."


"I was amazed hope was at hand"

"I have recently been made bankrupt and was petrified of what was to come, I had received a letter from the Official Receiver telling me to attend his office for an interview, I did not know what to expect and was very apprehensive.

My accountant recommended that I speak with Debt Service Advice and after putting forward my situation they assisted me with legal representation, with their assistance the meeting took place with the Official Receiver and it was agreed that i would pay £380 per month for 3 years which in itself is better than an IVA over 5 years.

I have been allowed to trade as a hair dresser, although under supervision of the Official Receiver's office and it is hoped in time that I will be able to get my pride back.

Without the assistance of Debt Service Advice there would be no hope as I did not have the money to pay for legal representation.

Debt Service Advice has assited in the restructure of my business and i can now look forwad to a new life. On the website of Debt Service Advice they state the words, "No False Hope" but one can say they have given me hope."

We do not give False Hope.

The above are extractions from the letters received without the customers details for the sake of their privacy

Frequently Asked Questions

To read more FAQ's please visit our FAQ Page or if you wish us to ask a question yourself please
fill in the form on the FAQ Page and we will post your question with the relevant answer.

 

Debt / IVA Q) If I enter an IVA at the end, will all my Debts be cleared?

Debt / IVA Q) How will I be able to establish if an IVA or Debt management is the best course of action?

Debt Q) From my income what will I be asked to pay towards my Debts?

Debt Q) I have substantial Debts but I also have a partner, will he be asked to contribute towards any Debt agreement?

Debt Q) On Debt Direct Ltd's website there appears to be helpful information, however how can I get someone to explain the legal terminology?

Debt / IVA Q) How do I establish as to whether a Debt management plan or an IVA (Individual Voluntary Arrangement) is best suited to my needs?

Debt Q) The company I owed money to has transferred my Debt, do I still have the same obligations?

Debt Q) My Debt is over 8 years old and I have been told that it has been sold to a collection agency, do I still have to pay?

Debt Q) Recently the citizens advice negotiated my Debt whereby I pay £5 per month, does this mean that's all I have to pay for the future?

Debt / IVA Q) I have Debts of £4,600, what options do I have as I have continuous phone calls for payment?

Debt Q) Can I consolidate my Debts within my mortgage?

Debt / IVA Q) What would a Debt management scheme cost me?

Debt / IVA Q) I have Debt from borrowing money at a high interest rate, how can I resolve this?

Debt Q) My son is 16 and has incurred a substantial amount of Debt without my knowledge, what can I do? (Does this make me responsible?) ?

Debt Q) My daughter is a student and has a large amount of Debt, what can she do?

Debt Q) I have a CCJ (County Court Judgement) over Debt, will this affect me getting further credit?

Debt Q) My daughter had a club whereby she received commission on sales, however some people have not paid and now she finds herself very much in Debt, am I responsible for that Debt?

 

Instruments

Taking the Right Route

Instruments that may assist in keeping your business afloat, be it a sole trader, Ltd company or corporate.

What is an instrument?

Such comes in many variations and will depend on the gravity of the problem and what is best suited to a solution which can differ case by case, for example:
  • Business restructure
  • Finance indemnity to allow further borrowing
  • Venture capital
  • IVA / CVA agreements
  • Interlocking IVAs
  • Deferment of Inland Revenue / Customs & Excise
Are but a few.

Business Restructure

Business restructure may be necessary and a solution would come from within, this could be from sales to managerial skills to staffing levels as well as purchases.

Finance Indemnity

An indemnity bond may be available which will allow your current bankers to give you further facilities in this current time of need and can be a very useful tool.

Venture Capital This is where a venture group would be prepared to buy into your business by injecting further needed finance. However there may be conditions set in respect of the introduction of monies.

IVA / CVA

An IVA (Individual Voluntary Arrangement) is a personal issue and can assist individuals who are self-employed reach an agreement over a period of time to resolving any outstanding monies owed, or debts.

CVA

A CVA (Company Voluntary Arrangement) refers mainly to businesses who are under financial pressure and again, like an IVA, can be scheduled to make payment over a longer period of time and to allow the continuity and running of the business, again this can be helpful when under financial pressure.

Interlocking IVA

An interlocking agreement can be helpful to directors of companies whereby they utilise their personal assets to provide finance to alleviate financial pressures within a company, again these an be structured in various ways.

Deferment of Inland Revenue / Customs & Excise

Many companies are under severe pressure from the Inland Revenue and Customs & Excise, it may be possible to reach an agreement whereby any existing debt can be deferred for a period of time, it may also be possible to structure an agreement where arrears can be paid off over a longer period of time, in some cases, up to 4 years.

There are many other financial solutions and tools as well as instruments that may be helpful when under financial pressure, but such can only be addressed once one knows the true situation as any variation could have an impact on any solution put forward.

Should you want to discuss the above or other routes one might take then please contact us on

Phone 01305 832104

All information provided is private and confidential