Debt Solutions

Debt Advice

There are many reasons why people get into debt such as credit card or store card debt or even debt after a death in the family. Getting into debt can be caused by an unforeseen event such as debt arising from disability, debt from ill health or injury or even debt from redundancy or loss of work. Some people have debt arising from divorce, separation or single parenthood.

girl2The key to solving your debt problems is to get good advice and to take action quickly and as there are so many debt solutions these days, there really is no excuse for not taking action.

If you can’t afford your monthly payments to credit cards, store cards, loans and overdrafts, our debt management plan can replace them all with a single affordable payment. We could also stop demands from your creditors and even reduce or freeze interest and charges on your debts.

familyYou will then make a single monthly payment to your debt management plan each month and leave the rest to us. NDC are licensed to give debt advice and run debt management programmes, so for more information on debt management plans call free now on 0800 121 4733, or submit your details using the form on this website.

An IVA or Individual Voluntary Arrangement is a Government approved scheme that allows you to turn your loans, credit cards, store cards and other debts into one affordable, single monthly payment so that you can pay off your debts and get on with your life.

family-photo2It is a formal agreement between you and your creditors whereby you repay what you can afford, usually over 60 months. After which, the outstanding debt is written off. By accepting the IVA, creditors agree to accept lower payments, not to pursue any legal action against you and to write off any outstanding debt at the end of the IVA. You agree to pay as much as you can afford for the time agreed.

Bankruptcy is often considered the last resort for people struggling with debt because there are other debt solutions to consider first. It is a legal declaration for people who cannot afford to pay their creditors. A state of Bankruptcy can be declared by creditors in an effort to reclaim in part money that is owed to them. A majority of Bankruptcy cases are initiated by the individuals who feel they cannot pay their debts.

bankruptcyBankruptcy will free you from your debts with creditors, but you must consider all the consequences seriously and explore potential alternatives.