Money Advice Plymouth is a long-standing group that may be able to help local residents out of debt. We have the details on Money Advice Plymouth so you can judge if they are right for you. Read our Money Advice Plymouth review to learn about their services, website and other useful bits of info.
Who Are Money Advice Plymouth?
Money Advice Plymouth is a free debt advice service located in Plymouth. The service has been on the go since 2001, albeit by different names starting with the Plymouth Money Advice Group. They are a registered charity under the name Homemaker Southwest, an organisation with which they have recently merged.* As well as advice, Money Advice Plymouth can help arrange a small number of debt solutions to help debtors get out of debt.
Money Advice Plymouth employs three full-time staff members to provide their services and are fully recognised by industry groups, meaning they follow best practices when giving financial information and advice.
*Charity No. 1088596. Information correct as of 14/04/21 (CharityCommission)
How Do Money Advice Plymouth Help?
Money Advice Plymouth can help debtors by providing them with free debt advice and resources. They take into account each person’s individual debt circumstances and their personal finances to give tailored advice that can be beneficial.
They can also discuss:
- Debt Management Plans (DMPs)
- Individual Voluntary Arrangements (IVAs)
- Debt Relief Orders (DROs)
For example, Money Advice Plymouth may recommend a Debt Management Plan which is a way to spread repayments over many months while also freezing interest on the debt. These can be negotiated directly with creditors, but some people choose debt management companies to do it for them – and hope for a better deal in the process.
Money Advice Plymouth may be able to help too.
Money Advice Plymouth FAQs
How does Money Advice Plymouth work?
To use the Money Advice Plymouth service, you must first book an appointment to discuss your situation. Every appointment will begin with an assessment of your income and expenditure to paint a picture before delving into your debt issue. Once this information has been provided, they will recommend the next step for you.
How can I book an appointment?
You can book an appointment by calling Money Advice Plymouth directly or by using the online enquiry form on their website.
Where do appointments take place?
Appointments usually take place at your home. They will visit you at your home or a neutral location if you prefer. Alternatively, they do have their own office space that can be used for the initial consultation.
Will Money Advice Plymouth charge me?
The Money Advice Plymouth debt advice service is 100% free. Debt solutions may not be free but this will be discussed with you.
Can I use Money Advice Plymouth if I don’t live in Plymouth?
Money Advice Plymouth has been set up for local residents to use. But because Money Advice Plymouth has agreed partnerships with comparable services nearby, you receive equivalent support if you live in South Hams and Teignbridge too.
What is the Money Advice Plymouth phone number?
The number to call Money Advice Plymouth is 01752 208126. You can book your first appointment using this number.
What is an IVA?
An IVA is one of the best ways to become debt free without paying back everything that you owe. It is a long-term repayment agreement used to pay back multiple creditors. You can’t use an IVA if you only have one debt. Money Advice Plymouth will be able to tell you if you could benefit from an IVA.
What is bankruptcy?
Bankruptcy is often looked down on, but as a last resort it could be the right thing to do when you can’t pay back your debts. Money Advice Plymouth may be able to assist with your bankruptcy application.
What is a Debt Relief Order (DRO)?
Money Advice Plymouth is one of the few groups that can organise a Debt Relief Order for you. These are like a small-scale bankruptcy that could end up wiping your debts after one year. There are consequences to using a DRO, which will be explained by Money Advice Plymouth staff.
Contact Money Advice Plymouth
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