We have been reviewing the debt solutions and services on offer with UHY Hacker Young to see if they really are a good option when trying to get out of debt.
Their services are commercial, and they will make a profit out of you for helping you get rid of creditors. Even in desperate times, that doesn’t mean you should just sign up to one of their debt solutions.
Before you make any decision, get to grips with UHY Hacker Young by checking out our latest debt solutions review.
Who Are UHY Hacker Young?
UHY Hacker Young are UK chartered accountants providing a range of financial services and tax management. Most of their services are marketed for the corporate world and limited companies. Yet, if you manage to find the right page on their extensive website, you will uncover three debt solutions on offer to individuals. If your debt is above £20,000, they are known to offer free debt help consultations, but this is subject to change.
What Debt Services Do They Offer?
UHY Hacker Young offer practical debt advice and two other debt solutions:
- Personal insolvency advice
- Individual Voluntary Arrangement
Bankruptcy is one of their services that may be decided upon after taking their insolvency service advice. You must have at least £5,000 worth of debt to declare yourself bankrupt and UHY Hacker Young will make that application for you.
Declaring bankruptcy will not be an easy decision. Yet, it often gets looked down on as a viable debt solution when it could, in fact, be the right decision for your debt situation.
What Do People Say About the UHY Hacker Young Website?
We scrolled through lots of internet pages trying to find recent reviews specifically about UHY Hacker Young debt services. But our search came to no great avail as all their online reviews referred to their accountancy services.
Nevertheless, we decided to put their website under the MoneyNerd microscope instead. The website is not very friendly, and most people will struggle to locate their insolvency services quickly. You have to dig through the pages a little to find their personal debt solutions, and even then, don’t expect too much information. This appears to be typical of companies that offer a wide range of services – and IVAs are just a small part of them.
UHY Hacker Young FAQs
Is UHY Hacker Young a real company?
Absolutely – UHY Hacker Young is a legitimate company and have been operating for decades. As accountants and insolvency practitioners, they are governed by the Financial Conduct Authority (FCA), as well as others. You can trust UHY Hacker Young to act appropriately.
Can UHY Hacker Young end my debt worries?
There is no doubt that UHY Hacker Young have the personnel and skills to help people out of debt. But their services will not be able to help everyone. They can only help people have serious amounts of debt.
Can UHY Hacker Young guarantee me an IVA?
No debt solution providers can say for certain that a debtor will get an IVA. UHY Hacker Young can suggest that you meet the criteria to get an IVA, but they cannot say 100% that the majority of your creditors will vote for the IVA.
Do UHY Hacker Young offer personal debt advice?
Yes, UHY Hacker Young do offer personal advice and list this service among their personal debt solutions.
Is UHY Hacker Young debt advice free of charge?
Even though UHY Hacker Young offer debt advice, there is no suggestion that this is free. However, there is a rumour that anyone with over £20,000 of debt can get free consultations with UHY Hacker Young insolvency practitioners. If this isn’t you, you can get free debt help from a debt charity.
What is the UHY Hacker Young contact number?
If you want to contact UHY Hacker Young, you can find their phone number at the bottom of our UHY Hacker Young review. We have also provided their office address in case you want to write to them.
How much will I have to pay UHY Hacker Young for debt services?
UHY Hacker Young are an established company and financial advisory firm. Their services do not come as cheap as some other debt solution providers. You should expect to not get their debt services cheap and you might have to commit to ongoing monthly fees for the lifetime of your UHY Hacker Young IVA.
Can debt charities do the same for free?
Some of the services offered by insolvency practitioners can be found for free with UK debt charities. But don’t expect all the debt services offered by UHY Hacker Young can be had for free elsewhere. After all, these are complex services provided by dedicated professionals.
Will UHY Hacker Young stop scary debt letters?
When you do secure a debt solution through UHY Hacker Young, your creditors are naturally aware of the agreement. As a result, debt letters and calls should stop. However, those communications may continue for some time if the creditors and debt agencies fail to update details quickly, or if your phone number and address are added to automated communication technology.
What are Money Nerd’s thoughts on UHY Hacker Young debt solutions?
UHY Hacker Young only offer two real debt solutions for people in a lot of debt. They don’t offer anything for people with smaller debt or debt with one creditor, ultimately ruling out a huge percentage of people who want help. UHY Hacker Young appear to prioritise insolvency services for businesses over individuals and can be quite expensive.
We would recommend speaking with charities first and searching for options with other debt solution providers instead.
UHY Hacker Young Contact Details
St James’s Building
79 Oxford St
0161 236 6936