- “It was all going swimmingly.
My main job as the school secretary was bringing in about £1000 a month. The pub shift on a Friday night gave me a further £150 a month and the tax credits contributed that final few hundred quid extra that was making the difference between being able to get around Tesco & funding the kids lunch monies versus being permanently squeezed between spending on food, household essentials, and utilities.
Now, with my tax credit recalculated and for some reason reduced, its forced me to apply for a better paid job / income, which I am frightened is going to take me away from spending as much time with the kids! The world these days just seems to be one giant bill, and I can’t find any way to reduce mine, without impacting the kids and the time spent with them!
I had already started to feel the pinch as every time I went round the supermarket, the same food seemed to cost more! So, I made sacrifices; the food budget was stretched, treats like chocolate and fizzy pop became ‘persona non grata’ as far as the shopping list was concerned! Big name brands were quickly ditched for the ‘Value’ range! Cue a child revolt, as the value beans didn’t go down too well, but I found that with thought and careful planning I could keep their lunch boxes fun and healthy even on the tightest of reduced income or budgets.
Then there is the small matter of the ever increasing cost of paying the gas and electric bills! First our summer holiday at mum’s caravan was cut out, but now I am struggling to even pay for the school trips to the Science Museum! It’s starting to make a massive difference to our lives!
Well, I could not deny the £25 for the Science museum, so I borrowed it from one of those new internet lending sites. What a mistake that was! As I now need to find money that I simply don’t have from next week’s budget otherwise I won’t make the payment and that telephone number interest rate is going to bite back at me! It just feels like I am being sucked into a cycle of debt.”
- Sound familiar?
Across the UK, thousands of families are feeling the pinch following the latest round of decisions on tax credits. Despite increasing from £18bn in 2003 to £30bn in 2010, this latest decisions have really hit the pockets of some of those up against it financially. To some this has meant they have lost a small amount of secondary income that some basic re-budgeting can sort out. However some families depend on those extra monies to pay for life’s essentials, such as to clear debts.
As we heard in the story above, the price of food and utilities has rocketed in the past 2-3 years since the financial crash or credit crunch. Utility bills alone have risen to £560million in the last year according to u-switch. Some 24.9 million households have been affected. When we couple this with the soaring price of petrol and the effect this has on food prices then the pressure is really on for those families already on a reduced income or budget.
In the post credit crunch lending markets, it is no longer easy to borrow that little bit extra to tide you over. That with the static figures that are being returned on UK Salary Price Rises and for some, the only means of borrowing left is the new ‘quick cash’ lender. These loans typically range between a week and 30 days, with hefty arrangement fees (in comparison to loan amounts) and a real sting in the tail, if the borrower misses a payment once the loan is repayable.
- If these issues ring a bell in your home and you feel like you are swimming against the tide financially, then maybe we can help.
- Our trained specialists are vastly experienced in dealing with a range of personal debt circumstances and people suffering from a reduced income, you can call us in confidence 24 hours, 7 days a week, on 0800 018 6868.
- No matter how complex or tough you think your debt problem is, get in touch to see if we can start making a change to your financial life today!
Despite the recent announcements of profits in the banking sector and the sizeable bonus payments that accompany this news (let’s not get into that!) one fact does remain.
- It seems to be getting harder and harder to be accepted for a personal loan in the UK.
This is due to a number of factors as follows:
- Purely and simply, banks have tightened their criteria for lending
- There is a smaller pot of money that banks are using to lend out to customers
- Previous credit records are being more closely scrutinised
Which to be honest is all underpinned by the fact that banks are looking to fundamentally change the structure and the risk reflected in their balance sheets. Having re-read this a number of times, your blogger is in danger of sounding like an ultra boring accountant, so lets look into what this actually means in more detail.
1. Banks are being asked by the coalition government (and the EU) to reduce the overall risks taken in their lending, to avoid a repeat of the recent financial crisis. In the longer term, this may see some banks be ‘split’ so that there retail divisions (everyday banking for you and I) are split from their investment arms.
NB: When the papers talk about ‘grotesque bonuses’ it is very rare for anyone in the Retail divisions to be in receipt of these substantial sums. Therefore, try not to get too angry with the customer services clerk who serves you in your local high street branch!
- The banking crisis and bonus culture cannot be attributed to he or she!
2. In response to being asked to reduce overall risk, the executive boards of major banks have decided that the overall amount of money available to lend to individuals and to small and medium sized businesses should be reduced. This means that there is the same amount of people competing for a reduced pot of money.
Specifically in response to reducing the ‘risky’ lending, it is considerably easier to tighten up lending scorecards to personal customers and small businesses. These scorecards are basically a list of questions, where the responses are used to make decisions on granting a personal loan or approving an overdraft or credit agreement. For retail customers these scorecards can prove to be very accurate predictors of what constitutes a ‘good’ lending decision.
During the height of personal borrowing in the UK, these scorecards were ‘loosened’ slightly, which meant that banks accepted that there may be a higher volume of cases which default, in exchange for obtaining an increased overall lending pot (and increased interest payments to fuel profits).
3. Finally, the executive management of many of the large UK banks have decided to go ‘back to basics’ and instead of borrowing money from international markets, in order to lend to retail customers, they would go about things in the traditional way. Encourage more savers to deposit with them, prior to lending out a safer proportion of saver’s funds.
Whilst this is a noble response, it also doesn’t take a genius to work out that when the average savings deposit account on the high street pays less than 1% gross interest (and the UK inflation rate soars towards 5%), depositing funds into a high street bank is a less than attractive proposition.
- So, where does this leave you, the borrower, looking to obtain funds to allow you to purchase that new car, or build the extension at the back of the house?
At Lewis Alexander, we specialise in debt management advice and advice if refused a loan, we may be able to help you obtain access to borrowing if you qualify.
One free call to our personal debt and personal loan advisors on 0800 018 6868 could help you understand how you can restructure your existing borrowing or rectify your credit rating.
- Our advisors are all professionals and will treat your call in the strictest of confidence.
- So call us FREE today to see if we can assist you in your borrowing plans for 2011!
- Call 0800 018 6868
It seemed like the only option at the time!
Pregnant, with your third baby on the way, the two bedroom starter home that you and your husband had long outgrown (even before the twins came along) just had to be upgraded, so you took an unsecured bank loan of £10k to fund the costs of moving.
By the time the solicitors, estate agents, removers had been paid and you had gone on a trip to B&Q to buy some paint for the new nursery, there was none of that £10k left! Still, with 6 months left on your maternity leave, you had no immediate worries as you had that secure job in a legal firm. Even in times of trouble there was always a need for bankers, accountants and lawyers.
- Wasn’t there?
You decided to extend your maternity leave for a few extra months. Extra time with baby was more important than the job! which quite frankly, would be there when you were ready, and used to the idea of placing young Emily into nursery. This time round though felt different, with a baby girl to go with your twin boys it had restored balance in the family. She would be your last and so making the new house a true home became the priority.
- The spending, therefore, continued!
Nice outfits for baby (nicer ones for mum!) expense after expense on the new house including a rather unpleasant row with the neighbours over replacing their fence! Meant that further unsecured borrowing followed on credit cards, together with an extension to that initial bank loan. In fact, by the time that you were ready to return to work almost a full year after Emily was born, you found that rather than economising like you had with the twins, you had burnt through some £40k!
Still it wouldn’t matter, as you were bound to get a decent bonus on your first year back and that would start to set you straight! Except you returned in the spring of 2009, there had been no pay-rise whilst you had been away and the firm had lost some significant clients as they quite inconsiderately went bankrupt during the credit crunch – that you had vaguely paid attention to on working lunch!
No bonuses or pay-rises in either 2009 and 2010 together with those astronomical nursery fees meant that your £40k unsecured debt mountain was not shrinking in any way shape or form! The kitchen still needed replacing (and probably the bathroom too) and you were fed up sleeping on that lumpy, dumpy old mattress!
- It all starts to feel a bit much!
Despite the family having a household income of nearly £60k a year, you seemed to be struggling under the weight of paying back your unsecured debt!
- Surely there are others in your situation?
- How do you start getting back on an even keel?
Well, the first step of any difficulty is admitting that you have a problem and by getting this far through our blog post you have probably admitted to yourself that this is indeed you!
Still, don’t panic as the debt management specialists at Lewis Alexander can help you to clear personal debt problems whilst also making that unsecured debt mountain less of a daily problem in your life.
We start by taking some important details about you, your finances, your current priority and non priority debt commitments and get some more information about your personal circumstances before starting to tailor a debt management plan that is best suited to you.
At Lewis Alexander we don’t force IVAs onto our clients as we respect that this isn’t always the answer – particularly for respected professional people who have had a bit of bad luck or made a small error of judgement along the way.
Call our debt helpline free from a landline using 0800 018 6868 and we can start to talk through the specifics of your situation. We treat all our communications in the strictest of confidence and we understand that you may need some time to consider the financial options or debt solutions that are available to you.
At Lewis Alexander we give you this time and would like to help you when you are ready to commit to a best suited debt solution.
- All we ask it that you have a commitment to reducing your unsecured debts and a regular source of income.
- Our free phone number again is 0800 018 6868.
Get in touch today and see if we can make a difference to yoru daily financial life!
- “Credit Card Debt” – It’s a day you’ve been dreading for some time and now it’s finally happened.
Except, you’re at the checkout in the local supermarket, you have a trolley full of frozen food (including the Christmas Turkey!) and your overly nosy neighbour is at the till just to one side. What can you do? As you suddenly remember that all of your credit cards are at their maximum limit and no more credit is available.
In this scenario there are a couple of things to consider. Not least, how to escape the embarrassment of the supermarket situation with your head held high! To that end, whether the clerk has made a mistake, offering to pay by using up all your ‘club card points’ or simply stating that you have brought the wrong purse out with you all may work (Turning a bright shade of crimson and running out of the store is not advised!) Once home however, the real work to solve credit card debt needs to start.
Firstly you need to undertake an honest and open review of all of your outstanding commitments. Having all of your credit cards at their limit and having no credit available might be resolved by moving some savings around to clear down your debts.
Options to clear credit card debts include looking at the equity available within your property to see if a homeowner loan or other secured facility could be taken. You may be in the fortunate position to borrow the funds from a friend or member of the family.
- Perhaps you might have an asset such as a car or a caravan that you might be able to sell?
If many of these options have run out and having no credit available really is the end of the line, then by having a clear idea of your debts and the size of the problem that you are experiencing, you are able to look at wider solutions to your current credit card crisis.
- Calling the Lewis Alexander personal debt helpline on 0800 018 6868 can be a good start.
Our debt management specialists will be able to take important details from you and can then complete a financial health check of your current situation allowing us to work with you to find a solution that is right for you. We offer a wide range of options from bankruptcy to debt management, but will always look at each individual case and listen to your preferences before selecting the right option to move forward.
We are also able to speak with any unsecured creditors you may owe money to on your behalf to stop the difficult phone calls or letters that you may be receiving. By working with these creditors and explaining what you are able to pay, rather than what you cannot afford, we find that many of our clients experience a sense of calmness that their financial situation is being handled confidently and professionally.
- Once we have started a dialogue with you, we can then work to deliver the solution that is right for you.
If you are near this supermarket nightmare scenario, or are too afraid to open the postman’s letters or take any calls at home, it may be time to get in touch with us to see if we can help!
Having all your credit card balances at their maximum limit and having no credit available can be a difficult situation, but there is a chance you could turn this situation around and experience change for the better.
Our professional debt management experts are ready to take your call now, so contact the Lewis Alexander free from a landline debt helpline on 0800 018 6868 and make a firm decision to try and start to clear your credit card debt today.
- Did you know it was possible to improve your credit score without actually having much funds available in your personal bank account?
- It is even possible to obtain a good credit score after having a bad credit rating, when living in and out of a personal overdraft!
To increase your credit score or improve your credit rating you need to pay any credit account you have on time and make sure your payments are for the correct amount. It does not matter how much money you have in your bank account. It is as simple as that, if you are struggling with credit accounts get rid of them where possible.
Start a fresh and gain control on a monthly or weekly basis!
Car finance and all other types of credit agreements are listed on your credit report so it is important too keep up with all agreements not just the ones that are important to you.
Most people suffer from a bad credit score due to not being able to keep up with regular monthly repayments, some months they encounter extra unexpected living costs, such as motor breakdowns and domestic appliance problems.
- These tend to need immediate attention which costs and these costs are what tend to set the individual back.
When payments are then missed for credit accounts, the credit companies are duty bound to update the credit reference agencies monthly such as Experian and Equifax. These credit reference agencies keep your credit file up to date so that when you apply for any borrowings or credit, the lender you are applying too has the right with your permission to search your credit file for any information they may require to either approve, or decline your application.
- When an application for credit is refused or turned down, the lender is under no obligation to tell you why. This can often offend people but the policy not to disclose the reason for decline is normal practice within the credit industry.
If you have never seen a copy of your credit report, it can at first take time to understand. Once you have seen it you will feel more comfortable looking at it next time you need to, and so on. It is important to keep a check on your credit report as this can inform you of any searches that have been made in your name without your awareness.
Credit Expert from Experian is the most well know of the credit reference agencies that allow you to view your credit report online. They offer a free 30 day trial. This is a trading name or brand of a company called Experian who advertise on Television, you may have seen the credit expert TV adverts.
Lenders use different parts of your credit report to assess if they are able to lend to you, this differs from lender to lender. If you make multiple applications for credit and get refused within a short period of time, say one day to a week or even within one month, you can reduce your credit score that way, so be careful when applying for credit.
Prospective lenders do not like to see many refused applications for credit within your file over a short period of time, it can show that you are desperate to obtain the credit and this can worry a lender.
If you need advice regarding clearing personal debts after suffering a bad credit history, you can call our personal debt helpline 24 hours a day in total confidence using 0800 018 6868.
Lewis Alexander is registered in the UK to help and assist consumers with personal debt and other financial problems.
We are specialists in personal debt management consultancy and help many people every day to clear and consolidate personal debt problems.
- Personal Debt Consultants at Lewis Alexander will not charge you for advice!
If you are suffering from excessive charges and interest rates that are being applied to your credit agreements then you should take advice from a personal debt consultant sooner rather than later.
- Do not stick your head in the sand like an Ostrich, get professional advice from trained personal debt consultants.
Your creditors will be sympathetic to the problem you find yourself with and you should approach them with details of changes in your circumstances or with reason for the lack of your ability to repay.
When credit and debt becomes a problem, it can seem as though you are the only one suffering, this is not the case, if we all could see inside other peoples wallets, we may find a lot of other people in the UK are currently suffering from the same financial problems.
Personal debt consultants can help by advising the best solution to take with advice tailored to your personal situation.
Some people just carry on day after day hoping that the problem will go away, unfortunately it does not and often it will get larger over time if not dealt with.
You must accept that you are not alone and personal debt consultants can help you, they are specialists in what they do and even though all of us are different, the problems we face financially tend to be the same.
If you would like to speak with a trained personal debt consultant in total confidence today, then please call our personal debt helpline using 0800 018 6868, lines are open 24 hours, 7 days.
- Are you in the clutches of doorstep lenders?
- Do you borrow money off companies such as Provident, Greenwoods or Shopacheck?
- Have you been refused credit or loans for Christmas?
The amount of cash loans, doorstep loans and further personal credit taken out over the run up to Christmas is astonishing.
Christmas is most certainly one of, if not the most expensive times of year. We all rush out trying to buy items that we think will please our loved ones when really, the only winners seem to be the retail shops. Most of us save and budget for Christmas when others just spend like next year is not going to arrive!
- This is where a lot of people, mainly people on low incomes or state benefits, get parted with hard earned money.
There are unscrupulous financial companies waiting to charge you very high rates of interest for short term loans that are really not affordable. When we advise people that call us for doorstep loans or cash loans that only millionaires can afford these types of loans, they laugh!
It is not funny when the bills for these, loans arrive and the interest compounds beyond a point of ability to repay that interest and makes it near impossible for the individual to reduce the total debt.
These cash loan companies then have you in their grasp, it is very difficult to break this grasp and it makes the vulnerable consumer an easy target for further credit or final collection procedures to recover money owed.
You must accept that if you are used to borrowing from a door to door lender, you should consider starting a debt management plan that will consolidate your loans, overdrafts and credit cards or store cards into one, new, lower and affordable monthly repayment.
- This way, by the time next Christmas arrives, you will have enough money set aside to buy gifts without needing to borrow money at very high rates.
It is usually the most desperate of people that get stuck in this cycle of personal debt and because of their desperation, they fail to see the true picture when being offered loan products that only seem to be of benefit to the lender, not the individual borrowing the money.
If you are on DLA or other types of benefits, loans are very difficult to obtain and people often get offended when refused for cash loans or doorstep loans. This refusal is actually the best thing that the individual could hear, it is just the acceptance of the refusal that the individual needs advice about and this is where a debt management plan could possibly help if circumstances allow.
To start a financial management plan for most seems a negative thing to do, if you need one then it is the most positive thing you could possibly do. A structured repayment plan would get your finances in order and make a stable foundation for your financial future. Just because someone is not offering you cash does not mean that you are not being offered help, think and think again!
Think before you borrow!
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How does Debt Consolidation work?
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What is the best way to get Debt Help?
In our business of managing hundreds of clients finances and helping them with their debt consolidation, we have found that the biggest cause of stress in families is always regarding their personal debt and how best to manage the debt problem that can spiral out of control very easily.
We find that many people are not aware of the debt help that is available for people who genuinely want to reduce their debt and be able to cope with managing their income and expenditure.
There are many financial companies who have an excellent track record in helping people in this situation and these companies are able to ease their clients’ worries very quickly.
Debt consolidation is one method that can be used very effectively to reduce your outgoings and balance it with your in comings, especially with expert help.
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Many people need educating in what one needs to do in this situation!
Contacting a debt consolidation company will help and educate them as to what decisions need to be made to effectively manage the current situation in the best possible way. This in itself is a way that a client can receive immediate relief from the worries of not being able to cope financially and the ability to sit down or talk to a consultant over the phone will have long term benefits for the individuals financial future.
Over the many years of managing and clearing clients debts, our experience tells us that once a client contacts a debt management or debt consolidation company, they are put at ease, knowing that that they will not have to deal with a bailiff or collection agent knocking on their door demanding monies that they cannot afford. The fact that the debt agency is there to help in this situation makes a huge difference.
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What Is Debt Consolidation?
In the simplest terms, debt consolidation means that you take all of your individual unsecured or secured repayments such as credit cards, overdrafts, loans and catalogues etc and put them all together as one full amount owed. This full amount is the amount that is then arranged into one consolidated loan, offering the benefit of making one lower, affordable and reduced monthly repayment over a longer period initially, if necessary with the effect of reducing ones monthly outgoings.
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The main purpose of this is to;
1) Reduce the total amount of debt – this can be achieved effectively when you work closely with one lender who will pay off all your outstanding debt and consolidate it into one monthly repayment.
2) Create one new payment to a new lender that is far smaller than all the individual payments to various lenders. Debt consolidation companies have much more experience dealing with lenders in this scenario and can also negotiate a much better rate of interest, effectively reducing your overall personal debt.
3) Allowing you in time to reduce your overall debt if you can make slightly larger payments in due course will have the net effect that you would pay much less in interest over the whole period.
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One of the benefits that occurs as a result of the above is that you end up with a much better organized financial statement regarding your income and expenditure.
We all find that many bills to pay means you have to be so much better organised and able to meet all the various payments at the due dates or end up paying penalties for late payments, causing you to pay much more in the long run and also affecting your credit rating along the way.
One outgoing for a loan is much easier managed than 10 different payments to various lenders!
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What are my options when Consolidating my Debt?
1) If you own your own home and have a reasonable amount of equity in your home you may consider the route of refinancing your existing mortgage to pay off other debts which will reduce your overall interest paid.
2) If you have a fairly good credit rating you may be able to obtain a personal loan and many people would favor this as the equity in their homes has been drastically reduced in the last few years. You can find out more information about these specialist loans from good debt consolidation companies or debt counselors.
3) If you have credit cards with large balances then you may opt to transfer all your other debts onto one single card, but you will end up paying higher interest or charges with this method.
4) Many times you may be able to get help or assistance from family and friends, however, when one wants to keep a certain amount of privacy with financial affairs, most people are swayed against this course of action unless they have very good and open relations with family. You are also likely to create tensions in family when the last thing you need is further tension, lack of privacy and stress.
5) Seeking out a professional debt consolidation company – For many people this would be the best option, working closely with a time served and reputable company who have specialists in debt consolidation, debt management and debt reduction will really help you. The advantage is in the fact that they have an in depth knowledge of the areas concerned and also have very good working relationships with banks, credit card companies and general debt collectors and lenders. It is possible in many cases that they are able to negotiate better rates of interest and settlements.
It is important to note here that lately, there has been a surge in new companies operating in this debt arena, many of whom have very little track record and your interests are, shall we say, not their first priority! It is very important that you do your homework and work with only the best companies that are prepared to look after your interests first, not their own.
Lewis Alexander Financial Management offer a first class personal Debt Management Service, nationwide throughout the UK. We are based in Manchester and we have helped thousands of client’s in our history. We have in house specialists who concentrate on debt management and loan consolidation and we have been looking after a great number of our clients for many years now.
Call Lewis Alexander on their personal debt helpline using 0800 018 6868, our lines are open 24 hours a day, 7 days a week and your call is free.
If you are struggling with debt in the UK, you must obtain personal debt advice as soon as possible.
- Unable to manage monthly repayments?
- Are you receiving letters and calls from credit card and loan companies?
- Have you missed payments on any of your credit agreements?
If you answered YES to any of the above, you need personal debt information that will assist you in clearing debts without further loans. Struggling with debt in the long term is not the way forward and the sooner you find away to end your debt, the better!
There are many different debt solutions which you can explore to find the one that suits you best, what you do need is the correct advice and this is not always available. The reason for this is due to most debt companies wanting to take you down the route that is most profitable to them, not YOU!
The most usual ways to clear your debt without another loan are listed below;
IVA in England or Trust Deed in Scotland
You may have already considered some of the above if you are struggling with debts and may not have received the correct advice based on your current situation.
At Lewis Alexander, we specialise in helping people every day who are struggling to clear their personal debts, we do this without the individual having to take on further credit or loan agreements.
We will be able to help you! All you need to do is call our personal debt helpline in confidence and have a brief confidential chat with one of our experts. This way you are not paying for the advice and you can compare our debt help to other companies you my have spoken with, or are about to speak with.
- Call free today, what have got to lose apart from ten minutes of your time?
- You may even find that after our brief chat, your problem is not as bad as you originally thought, which in itself is a massive relief to most people.
- IVA or Debt Management
The most difficult decision when trying to clear personal debts can be which debt solution to choose after doing all your homework on the options available.
- Debt Management Plans or
- IVA – Individual Voluntary Arrangements
- are usually the two solutions that people have to decide between. When faced with the two options, there are many factors that influence the choice of informal debt management over an IVA and likewise, an IVA over a debt management plan.
It is very important that you understand the differences between these debt solutions, as if you do not, you could easily have the wool pulled over your eyes by a clever and unscrupulous debt advisor that wants to earn extra commission for placing you onto an IVA as opposed to an informal Debt Management Plan.
A professional debt management company such as Lewis Alexander will offer you advice tailored to your personal situation and if you are better suited to a debt management plan rather than personal Insolvency or an IVA, we will tell you, however, you make the final decision based on the debt advice given to you.
It is your choice no one Else’s!
When you are in debt it can feel like everyone else does not understand your particular situation and that you feel that your debt problems are some how different to all others. This is not true, it is actually a mental stigma associated with being in personal debt, you are not alone and your financial problem is usually pretty much the same as others around you, it is your personal change in circumstance that will differ to other peoples, this is what creates the problem of being in debt in the first place.
Some people split from partners or others suffer a death in the family, others may have hours at work reduce resulting in less income, the list is endless but what is the same is the debt problem that people find themselves with due to being set back financially by the change in circumstance they may have suffered.
The main difference between an IVA and Debt Management Plan (DMP) is that
- An IVA is a legally binding agreement
- A debt management plan is not.
With a debt management plan you can expect to repay much of what you owe. With an IVA, the debt that is not repaid within a 60 month period is then written off by your creditors, this is agreed at a creditors meeting prior to the IVA commencing.
The IVA will guarantee to freeze any interest or charges being applied to your accounts, a debt management plan will not and it is down to the hard work and efforts put in by your chosen debt management company as to how quickly your debt is reduced, make your selection regarding your chosen debt company or debt service carefully!
- The cost of choosing or selecting the wrong debt company or agency to solve your debt problems can be as high as the interest being applied by your creditors to your accounts.
- The wrong debt company will have no concern on actually getting the job done, they are more concerned with extracting funds from you and fobbing you off with none truths.
For honest, genuine, debt advice and help in the UK, call our free from a landline personal debt helpline today using 0800 018 6868, your personal details are dealt with in absolute confidence and your call is free!
- Do you need help to clear debts in the UK?
- Are you struggling with your monthly repayments?
- Refused loans to consolidate personal debt?
At Lewis Alexander we understand how personal debt problems can impact on your daily life and we offer help and assistance to clear your debts without another loan. You do NOT need to take on further credit or loans to clear credit card debts or other unsecured credit agreements.
You can start by exploring proven debt solutions such as a Debt Management Plan or IVA (Individual Voluntary Arrangement).
Debt solutions such as bankruptcy are usually the last to be considered and also the most severe! Please remember that you should not pay debt companies for advice about how to clear personal debts.
There are many different ways of finding free help to clear debts, many sites online will offer information that when put together, gives you a broad but at times detailed explanation of solutions available to clear personal debt.
- Should you really trust the companies you owe money to when looking for help to clear debts?
Help to clear debts in the UK is usually chargeable when you use the services of a debt management company or Insolvency Practitioner that you would be expected to make repayments via a third party, other than when starting one of those two options, no individual should be asking you to part with any money unless you owe it directly to them.
- It is very important that people consider all options available when obtaining help to clear debts!
Apart from the main 4 solutions (debt management plans, bankruptcy, Consolidation loans and Insolvency) there are no magic ways of wiping out debt, unenforceable credit agreements do exist but not in the numbers that some companies are advertising!
- Debt management should only be entered into with the right company, do your homework!
- An IVA should only be entered into with a licensed insolvency practitioner
- A loan to clear debt should only be taken from a licensed credit broker
- Bankruptcy is entered into through your local county court
Be careful of being charged upfront fees for help to clear debt and services that may not even exist, some companies are charging people for loan applications to clear debts and these people are finding that loans are still not available to them, even though a fee has been paid!
Should you wish to discuss you personal financial issues with a trained personal debt advisor and simply need help to clear debt, please call our free from a landline personal debt helpline using 0800 018 6868, our staff are UK based, lines are open 24 hours /7 days a week and your call is FREE. All calls are dealt with in confidence.
