Many individuals struggle with understanding how they could pay off their debts. Moreover, if they decide to get help, they are unaware of who to contact.
If this is the case for you, I think it is time you contact a Debt Advice Agency.
Read this article carefully to understand who you could contact to help you with your debt problems. I have included FAQs and everything you need to know before contacting a debt advice foundation.
What is the role of a debt advice agency?
Debt advice agencies help the public deal with unwanted debt problems. They give guidance on debt and money.
Moreover, you could also ask them about: health, house, work, benefits, and immigration.
In case you plan on getting a debt solution, they could also offer free debt counselling.
How can a debt advice agency help with my debt problems?
The process begins once you approach the agency. An advisor will approach you and ask a series of questions. Moreover, they could ask you to provide some documentation as well.
After a face to face session, they will ask for some time to evaluate your financial situation. You could help them understand what solution you are looking for.
Your advisor could help you with a number of things including: budgeting, financing, and understanding debt solutions.
Once you are satisfied with the advice, you will be presented with a customized debt solution. After a legal agreement is signed, your creditors will be informed.
Through a debt advice agency, it is possible to become debt free more easily.
Can a debt advice agency help me get out of debt?
Yes, it is possible for a debt advice agency to provide solutions for your debt problems.
They will begin with understanding how much you owe to your creditors. Then they will analyze your financial situation and estimate how much monthly payments you could make.
Based on your circumstances, you will be provided with the best debt solution for you. This will be done after analysing your disposable income and living expenses.
If you get into a debt management plan, after an estimated period of time, you could become debt free.
What type of debt solutions can I get advice on?
If you are struggling with debt, you could be given free debt advice for a number of debts solutions.
I will list them down for you.
- Debt Management Plan (DMP)
- Debt Relief Order (DRO)
- Individual Voluntary Arrangement
- Bankruptcy Advice
- Minimal Asset Process ( MAP)
- Equity Release
- Protected Trust deed
- Debt Arrangement Scheme (DAS)
- Mortgage advice
It could debt on the individual organisation which debt solution they are providing.
Can I get advice from the National Debtline?
If you are someone who lives in England, Wales, or Scotland you contact the national debtline.
They provide free information through telephone, email, or even web chat. Your information will remain confidential and will not be revealed to the general public.
Where can I get debt advice online?
You could get debt advice online through a number of debt agencies. I will list the most prominent ones down for you.
Frequently Asked Questions (FAQs)
Which agency is the best for debt advice?
StepChange debt charity is one of the largest debt advice agencies in the UK. They help with providing all kinds of solutions for your debt problems.
You could call for free on their number or even contact them through email.
Can I get help from the Citizens Advice?
Yes, you could be able to get help from Citizens Advice for your debt problem.
You could walk into citizens advice without pre booking or you could reach out to them through their helpline.
What is the best time to contact a debt advice agency in the UK?
You could contact them from Monday to Friday, 8am to 6pm. Some debt charities could even provide 24 hour online web chat services.
However, it could be different for every organisation. I would advise you to visit their website for more information.
Which agency can I speak to for debt advice?
There are a number of agencies to pick from.
I will list them down for you.
- StepChange Debt Charity: They provide free online and telephone debt services
- Debt Advice Foundation: They are an education charity who help through telephone services.
- National Debtline: They offer free online and debt advice through telephone. You could also contact them through their web chat.
- PayPlan: is a debt charity that could help you overcome your unwanted debts
- Money Adviser Network: They offer free debt advice through telephone.
What should I do if I am unhappy with the advice?
In case you are unhappy with the solution provided by the debt advice foundation, you could ask them to review the decision.
It is important to be transparent and comfortable with the final decision.
Can a debt agency help me get debt relief?
It is possible that they provide you with a personalised debt solution to deal with your debts. Moreover, they could contact your creditors to convince them in case you are unable to contribute towards your monthly payments.
However, this is only possible if you creditors agree to the arrangement.
What is the National debt advice?
National Debt line is a debt advice agency that provides debt counselling. They use digital tools to reach out to their customers. Moreover, they help with providing web guides, fact sheets, and sample letters.
I understand debt problems could create a lot of mental and emotional stress. However, if you contact the right agency, they could help you by providing a personalised solution for you.
Read the guidelines provided above carefully. It will help you understand which agency is the best for you.
I would suggest you contact more than one agency before choosing the final one. This will help you understand which one is the best suitable for you.
For any further information, please do not hesitate to contact us.