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Debtline UK

If you are someone who is having trouble budgeting and does not want to spend more money, I have just the advice for you. 

A debtline could be free and helpful at the same time. 

Read this guide to help you understand how you could benefit from a debt line in the UK. I have included FAQs and everything you need to know. 

What does a debtline refer to in the UK?

A debtline is a free telephone debt advice agency. This is available for the people who live in England, Wales, and Scotland.  

A debt helpline could offer free debt solutions to individuals who are struggling to pay off their debts.

What type of debtline are available in the UK?

There are a number of debtlines you could talk to for advice. I will list them down for you. 

  • Community Money Advice: they offer a wide range of debt solutions based in the local community.
  • Debt Advice Foundation: They offer free debt advice through telephone services. Moreover, they provide self help tools through websites online.
  • GOV.UK: Their online website provides a wide range of solutions and information. These include: debt, pension, and retirement planning.
  • PayPlan: They offer free debt advice through their online page age telephone. 
  • National Debtline: They provide guidance and debt advice through telephone, web chats, and online services. 
  • StepChange: They are amongst the largest debt charities in the UK. They provide free debt solutions, advice and guidance through telephone and online services. 
  • The Money Charity: You could be able to contact them and get advice on budgeting. 
  • My Money Steps: This is an online debt advice agency that is provided by The National Debt Advice

There are a number of debtlines that provide a variety of debt solutions. You might want to contact them to understand their services. 

Debtline UK

Are debtlines free?

Most debtlines are free. They provide free debt counselling and advice on a number of things. These include: financing, budgeting, and debt solutions. 

However, once you decide on proceeding with the debt company, they might charge you a monthly fee to create a Debt Management Plan for you. 

This could depend on the individual agency. 

What type of debt solution can the debtline help with?

You could get advice on almost any type of debt solutions available in the UK. 

I will list down the most prominent ones for you. 

These include:

  • Bankruptcy or Sequestration in the UK: This is in case you are no longer to contribute towards your monthly payments. 
  • Debt Management Plan (DMP): A personalised debt solution made according to your affordability and financial situation. 
  • Debt Relief Orders (DRO): In case you are unable to make payments and have no assets left to sell. However, this is for debts up to £20,000. 
  • Individual Voluntary Arrangements (IVA): This is for individuals who have debt for more than £10,000. 
  • Administration Orders: In case you have a County Court Judgement filed against you, and you are unable to pay your debt.
  • Debt Remedy Tool: This could help you understand which debt option could be the best for you. 

Your advisor will evaluate your financial situation and then inform you which debt solution could be the best for you. 

I would suggest you get legal advice before selecting an option.

How can I benefit from a debtline?

Yes, a debtline could provide you with a number of benefits.

A debtline could help you save money. This is mainly because you contact the agency through telephone, which saves you cost. You could be able to contact a number of debt lines before finalising. 

Moreover, they could evaluate your financial situation and help you understand how much monthly payments you could make. This will be an amount that is finalised after deducting your living expenses and disposable income. 

Furthermore, you will be able to understand the number of debt solutions you could pick from. 

Your advisor could become your trustee and contact your creditors for you. This way you do not have to worry about being chased by your lenders. 

Frequently Asked Questions (FAQs)

Am I eligible for debt advice?

If you are someone who is suffering from unwanted debts and are unable to pay off your debts, you could be eligible.

Moreover, you need to be a Scottish resident or someone who has worked in Scotland for at least a year. 

However, for England or Wales, the minimum time is 3 years. 

Furthermore, you should be able to make monthly payments. 

How long will my debts last in Scotland?

The estimated time is 5 years for Scotland. 

However, If you live in England or Wales, the estimated time is 6 years.

What if I am not satisfied with my advisor?

In this case I would advise you to speak to your advisor first. Try and explain what issues you are having. 

If you are still not satisfied, you could file a complaint to the agency. 

Can I contact more than one debtline?

Yes, since debt lines provide free debt counselling, you could be able to contact more than one agency.

This will help you understand which debt solution is the best for you. Moreover, you will be able to compare the quality of services of the debtlines. 

I would suggest thoroughly evaluating the debt services before proceeding with debt solutions.

What will happen if I ignore my debts?

Ignoring your debts could be risky. Your creditors could file against you. Moreover, your credit score will decrease. This could make it difficult for you to get credit in the future. 

To conclude 

A debtline could be just the solution you have been looking for. They provide services for a number of debt problems

I would suggest you contact more than one agency to understand which one you feel is the most suitable for you. Be sure to be well informed of your rights before proceeding.

Read this guide carefully in order to be well informed about what the role of a debtline is. 

For further information, feel free to contact us.

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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