Want to beat debt collection agencies with Debt Resolve? You may have come across the Debt Resolve website as you looked for debt solutions online, and they may promise to wipe off some of your debt, but can they really do that?
We explain more about the Debt Resolve services and solutions, as well as answer the most pressing FAQs in this Debt Resolve review.
Who Are Debt Resolve?
Debt Resolve is a UK debt management company that provides debt solutions to people who are struggling to get rid of debt and scary debt collection agencies. They provide services that must be paid for, but it is hoped that by paying you will get a better deal at paying off your debt through a variety of possible solutions.
It is important to stress that Debt Resolve is a registered commercial business and not a free help debt charity. They claim more than a decade of experience and must abide by industry regulations.
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So, what debt solutions does Debt Resolve offer?
Debt Resolve Services and Solutions
Not everyone realises, but debtors who live in the UK can’t all use the same debt solutions. People with Scottish debt and living in Scotland must use debt solutions that are similar – but are technically different.
Not all debt management companies can help people in Scotland, but Debt Resolve do offer to help set up a Trust Deed, which is a popular solution in Scotland. If you don’t live in Scotland, they have three other debt solutions on offer:
An IVA and bankruptcy are very serious routes to go down for people with significant debt, usually over £15,000 for the former solution. A DMP on the other hand, can be used by people with smaller debts and want to make repayments each month.
You don’t necessarily need Debt Resolve to arrange a DMP for you, but you may choose their help if you don’t like speaking to your creditors. You can find out more about a DMP debt solution by visiting the Money Nerd debt options page.
Debt Resolve Customer Experience
We searched the internet for real reviews left by previous customers of Debt Resolve. Unfortunately, we couldn’t find anything other than a couple of reviews left by their previous employees.
So, instead of providing you with Debt Resolve reviews, we decided to review their website experience and compare it to other debt management company websites.
The website includes plenty of information about who they are, how to contact them and their services. One other positive is the debt calculator page which gives an idea of how some debt solutions could benefit you. But don’t be misled by the figures as each situation is different.
You might find it hard to read the content of the Debt Resolve website because of the colours. Who thought green, purple, black and white were a good idea? We’d hate to see their wardrobe… Overall, it looks like the website has been made on the cheap, which doesn’t give us a great indication of what their services may be like.
Debt Resolve FAQs
Is Debt Resolve a legitimate business?
Yes, Debt Resolve is registered and recognised by financial and debt industry bodies. For them to operate, they must provide service sin lien with the law and treat you correctly without misleading you. If you think they have not treated you properly, you might want to complain to the Financial Conduct Authority (FCA).
How does Debt Resolve work?
Debt Resolve works by gathering information from you to work out how much debt you owe and how much money you have left each month to pay it back. They can use this information to recommend a debt solution that might save you money.
What is the Debt Resolve contact number?
We have added their contact number at the end of this Debt Resolve review. You can also request a callback by filling in the contact form on their website.
What is a Debt Resolve IVA?
An IVA is only suitable for people with multiple debts that add up to more than £15,000. It is a way of paying those debts back with one payment for five or six years, and then wipes debt after this period. Some people save thousands by using an IVA.
Am I guaranteed a Debt Resolve IVA?
Even if you meet the criteria for an IVA, there is no 100% certainty that you will secure one. This is because your creditors need to vote in favour of the IVA and if fewer than 75% of them say yes, the IVA will be rejected.
Can Debt Resolve help every debtor?
The above is just one reason why Debt Resolve cannot help every debtor. The other reasons are because they don’t offer enough debt solutions to cater to every debtor needs. Even though it is good that they have a Scottish debt solution on their service list, they only have one and many Scottish debtors will not benefit from Debt Resolve.
Will Debt Resolve speak to my creditors?
Debt Resolve will try to organise a debt solution by speaking with your creditors. They do this so you don’t have to speak with them.
Can Debt Resolve stop calls and texts?
Some of the Debt Resolve debt solutions will stop your creditors asking for payments. But some of them like a DMP may not. You might have to ask them again to stop yourself if they carry on asking.
Would Money Nerd recommend Debt Resolve?
Debt Resolve looks to be an average debt solution provider with a poor website. Because they don’t have any reviews online, we would recommend using one that does so you can be sure that previous debtors have had good experiences. Moreover, we always recommend speaking with a debt charity before making any big decisions.
Debt Resolve Contact Details
76 Stockport Road