Debt Help & Advice

Debt can have a significant impact on many areas of your life, including your physical and mental health, relationships with your loved ones, and your job. But as isolating as it can be to live with debt, it can be reassuring to know that there’s always help available.

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Reaching out for debt help & advice can be one of the most difficult things you ever do, but it can also be one of the most life-changing. Our team of expertly trained advisors understand that debt can happen to anyone and for a variety of reasons and are here to listen as soon as you're ready to talk.

Can I get out of debt quickly?

Whether you're worried about rising energy prices or are relying on credit cards to fund everyday purchases, there's a good chance you're looking for a way to get out of debt in as little time as possible.

The good news is, no matter how serious or helpless your financial situation seems, there is a debt solution out there suited to your individual circumstances.

Most people make the mistake of ignoring their debts for as long as possible in the hope that they never catch up to them, but this will almost always make the situation worse than it already is and could lead to serious legal action.

By reaching out for expert debt help, you can receive advice and support tailored to your financial situation and find the right debt solution to deal with your debts. That's where we come in.

How we can help you get out of debt

From dealing with bailiffs to building your credit score, our expert advisors can provide tailored advice to help you get out of debt and the best part is, it's completely free and confidential.

Here is a quick guide to some of the debt solutions we offer:

Individual Voluntary Arrangement (England, Wales & Northern Ireland)

An Individual Voluntary Arrangement (IVA) is a formal debt solution that can help you repay your creditors (the people you owe money to) through a series of manageable monthly payments based on your income and expenditure.

Once your IVA has been approved, we will work with your creditors to agree on a monthly repayment that you can reasonably afford and ensure your remaining debt is written off at the end of your arrangement (which typically lasts five years).

Debt Management Plan (England, Wales & Northern Ireland)

A Debt Management Plan (DMP) is an informal agreement between you and your creditors to lower your monthly debt repayments to an amount you can comfortably afford for however long it takes for you to repay 100% of your debt (usually between five and 10 years).

However, because DMPs are informal, you won't be given legal protection and your creditors can still contact you for payment or take legal action against you at any point during your arrangement if they wish.

Protected Trust Deed (Scotland)

A Protected Trust Deed (PTD) is a formal debt solution designed to help individuals struggling with unsecured debt repay some or all of what they owe.

Similar to an IVA, all interest and charges will be frozen and your repayments will be consolidated into a series of affordable monthly payments lasting four years with your remaining debts written off after this time.

What information do I need to provide to get debt help and advice?

Before you reach out for debt help and advice, it's important to be prepared and have the relevant documentation to hand.

This can help us fully understand the extent of your debts and reduce the time it takes for us to find the right debt solution for you.

However, don't worry if you don't know the full details of your debt - especially if it's been a while since you've acknowledged them - as we can do a credit search to help you find this information.

How can I find out more about my debts?

There are various steps you can take to find out more about your debts. We've outlined a few of them below:

Check your credit report

The easiest way to find out more about your debts is to obtain a free copy of your credit report from any of the main credit reference agencies (Experian, Equifax, or TransUnion).

This can tell you more about your debts, bank accounts, credit agreements (e.g. credit cards, payday loans), judgments (e.g. CCJs), and bills (e.g. utilities, insurance) as well as the dates the accounts were opened.

Check letters and emails from creditors

Once you're in arrears, your creditors will usually send you multiple letters or emails letting you know how much you owe and how long you have to make payment.

This can be a helpful reminder of your account numbers, start dates, and balances, all of which can paint a better picture of your financial situation and help up find the right debt solution for you.

Check your bank statements

Bank statements can serve as a record of your past debt repayments and this can let you know how long it's been since you made a payment as well as how much you paid.

This can be especially helpful for debts you pay through a direct debit or standing order, as these payments are sent automatically and can be easily missed.

Can I still get debt help if I'm self-employed or on benefits?

Some people make the mistake of assuming they can't access the same level of debt help as others because they're self-employed or on benefits.

However, many debt solutions, especially IVAs, can be tailored to your individual circumstances and should have no impact on your benefits eligibility or ability to run your own business.

No matter your situation, we will always aim to fit our services around your needs. So whether you're a self-employed business owner or your only income source is benefits, we will take this into account and find a debt solution that works for you.

Do I have to pay to get expert debt help and advice?

One of the biggest barriers to expert debt help and advice is the misconception that you can't access it without paying for it.

However, while you'll usually have to pay a fee to enter into a formal debt solution, there are several avenues you can go down to access free debt advice.

For example, most debt charities (e.g. Citizens Advice, National Debtline or Money Helper) are open Monday to Friday to provide free phone and webchat services to help you know how best to deal with your debt.

Similarly, while most debt management companies specialise in providing formal debt solutions (some of which require a fee), they can also provide free debt advice to help you know where to start.

Will a debt solution affect my credit rating?

Unfortunately, most debt solutions will stay on your credit file for six years and have a direct impact on your credit rating.

During this time, lenders will view you as a high-risk borrower and you'll find it difficult to get approved for further credit, such as a personal loan, mortgage, bank account, or even a phone contract.

However, the extent of the damage depends on the debt solution chosen and whether it's completed successfully with some debt solutions (e.g. bankruptcy) having a more detrimental impact than others.

Remember, evidence of a debt solution will be removed from your credit file after six years and your credit score will gradually improve the longer you make consistent payments towards your debt.

I'm ready to seek debt help and advice. What should I do?

Being in debt can be worrying enough without the added stress of not knowing where to turn for expert help and advice. Luckily, we can help with that.

As part of the Creditfix Group, UK Debt Expert has over 70 years of combined experience in personal insolvency and has helped over 185,000 individuals take their first step out of debt - making us one of the UK's largest debt help companies.

We are committed to helping you find the right solution to deal with your debts, whatever that may be, and will be your trusted partner on your journey towards a healthier financial future.

Our expert advisors know how overwhelming it can be to admit you need help financially and are ready to talk when you're ready to listen. We'll talk you through your options and help you find a debt solution that's the right fit for your financial situation.

Key Takeaways

  • UK Debt Expert offers free, tailored advice for managing debts, emphasizing the importance of not ignoring financial issues to avoid exacerbating them.
  • Solutions like IVAs, DMPs, and Protected Trust Deeds are available based on individual circumstances, offering structured paths out of debt.
  • Preparing relevant documentation before seeking advice can expedite finding the right debt solution.
  • Access to free debt help is available, with certain debt solutions potentially impacting credit ratings but aimed at long-term financial health.
  • Why choose
    UK Debt Expert

    Free debt advice

    that won’t affect your credit rating

    We are rated 5 star by

    more than 93%

    on Trustpilot*

    FCA authorised & regulated

    to advise on all UK debt solutions

    We’ve helped over

    250,000

    people with their debt

    *reviews for the Creditfix Group

    Trusted and ready to take you forward

    We’ve helped over a quarter of a million people find a way to deal with their debt 

    Reviews for the Creditfix Group