123 Debt Solutions

If debt is keeping you awake at night, it is easy to be drawn into the debt services at 123 Debt Solutions and sign up to their services without too much consideration. They offer different ways for you to get out of debt. But they don’t offer to help from the good of their heart. Their debt solutions are not free, and you could end up paying them each month on top of your debt repayments.

Learn even more about 123 Debt Solutions in this review, complete with a list of their services and real reviews by those who already signed up.

Who Are 123 Debt Solutions?

123 Debt Solutions is a company solely dedicated to offering debt management services to their customers. The business was founded in 2007 and is completely recognised by debt industry regulators. Despite being completely marketed towards debt help – unlike other debt help companies that are also accountants – they offer a fewer number of debt solutions than you probably expect. Moreover, their website is fairly basic and uninviting to say the least.

What Debt Services Do They Offer?

123 Debt Solutions may be your go-to place for debt services such as:

  • Individual Voluntary Agreements (IVAs)
  • Debt Management Plans

Their flagship debt solution is arguably their IVA services. Their insolvency practitioners will contact your creditors and agree a formal monthly repayment plan for a duration usually lasting five years. Due to the higher amount of monthly repayments and length of the agreement, you can probably tell that this is a debt solution for people with significant debt.

But the great news is that once an IVA is finished all your debts are 100% cleared leaving you debt free. This occurs even if you only paid off as little as 10% of the total debt owed!

What Do People Say About 123 Debt Services?

Some previous debtors have gone online to voice their opinion of 123 Debt Solutions, focusing on the fact they charge a monthly fee for their service:

“Debt management companies are meant to make life easier, not more difficult! they take their cut and then screw you over anyway avoid like the plague!”

[Google Reviews]

“I have just signed up with 123 debt solutions, they are going to take a monthly sum from me to pay off my creditors and out of that they take a £25.00 fee. they told me they take the fee as they do all the work, they told me other debt solutions companies that don’t charge only give advice and I would have to do all the work.”

[Money Saving Expert Forum]

It should be stated that what they reportedly told the customer in the second review is not true! Some other debt solution provider go further than advice and are also 100% free – such as charities!

123 Debt Solutions FAQs

Here are some of the common questions asked about 123 Debt Solutions:

Are 123 Debt Solutions legit?

Yes, 123 Debt Solutions is a legitimate debt solution group based in Liverpool. They are recognised and regulated by the applicable financial bodies to ensure their advice and practices keep debtors safe. 123 Debt Solutions may charge for their services, but they are not a scam.

What type of debts can 123 Debt Solutions help with?

123 Debt Solutions are able to provide a limited number of debt solutions to help with debts regarding credit card, personal loans, overdrafts, store cards and catalogues. This means there are quite a few types of debt that they cannot help with. 

Is 123 Debt Solutions free?

No – 123 Debt Solutions is a commercial outfit trying to make a profit by helping debtors. Do not confuse them with UK debt charities that provide some of the same services at no cost.

How do I contact 123 Debt Solutions?

You can contact 123 Debt Solutions on a freephone number available on their (basic) website. That number can be found at the bottom of this 123 Debt Solutions review as well.

Is 123 Debt Solutions a loan?

123 Debt Solutions do not provide debtors with loans to pay off their debt. They provide them with ways to get out of debt using agreements between them (acting on your behalf) and your creditor(s).

Even though you may pay your creditors through 123 Debt Solutions after agreeing to an IVA, most of the money will still be going to the creditors.

Do 123 Debt Solutions offer free advice?

123 Debt Solutions used to offer free advice to people struggling with debt. This was usually a way for them to get people enrolled into debt solutions where they started to make a profit. However, recent developments, as stated on their website, make clear that they no longer offer free debt advice. Instead, they point debtors to another company. It is not known what the agreement is between 123 Debt Solutions and this other company.

Will 123 Debt Solutions tell me the fees first?

Yes, 123 Debt Solutions will explain the fees for their services before you agree. This is done in writing. If they do not provide you with a full explanation of the fees, you could make a complaint against 123 Debt Solutions to the FCA.

Will 123 Debt Solutions make my creditors go away?

If you agree to a 123 Debt Solutions IVA, your creditors should stop pestering you as they have agreed to a formal agreement. Sometimes when the IVA is first up and running, creditors may still send you automated letters or debt calls.

What is the final 123 Debt Solutions verdict?

123 Debt Solutions don’t offer as many debt solutions as other companies, which may make them less appealing and suitable for your situation.

Many of the reviews of this company have shown their disgust at them making a profit and taking a fee. This may be a little unfair considering they are a commercial company after all – but you may be able to get equivalent services elsewhere for less and even for free with debt charities.

123 Debt Solutions Contact Details


10A Dryden Road
Wavertree Technology Park
L7 9PG

Contact number:

0808 22 22 123



About the author

Scott Nelson

Scott Nelson is a financial services expert, with over 10 years’ experience in the industry, including 6 years in FCA regulated companies. Read more
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