Debt Advice We're Here to Help
Nobody gets out of debt by ignoring the problem and the fact that you are reading our website means that you are on the right path to sorting things out. In our experience financial matters can be complicated, especially if other family members are involved too.
So if you are worried about your financial situation, the sooner you contact someone to get some professional advice and support the better.
Because there are many different types of debt problem, and different individual circumstances, we have put together a comprehensive range of solutions. As you might expect, some of these are complicated but dont worry, our Personal Financial Consultants will make sure you understand them, and their suitability in your situation.
The Debt Solutions We Offer
Debt Management Plan
A debt management plan is an arrangement between you and your creditors which allows you to repay your debts with a lower and more affordable monthly payment:
- You only pay what you can afford - all your credit cards, loan repayments and other debts are reduced to one single, affordable monthly payment
- The stress is removed - we deal with your creditors on your behalf, as well as any debt collectors or bailiffs
- Charges are reduced - we will seek to arrange with your creditors to freeze interest and other charges
At Bridgewood we have a close working relationships with the creditor community, which can be of great benefit in ensuring that the solution we propose on your behalf is responded to quickly and in an appropriate manner. Whilst they are not obliged to, we will negotiate with your creditors to freeze or reduce the interest and charges on your accounts wherever possible.
Learn more about Debt Management
Individual Voluntary Arrangement (IVA)
An Individual Voluntary Arrangement (IVA) is a practical solution to dealing with an unmanageable debt one which you worry you might never escape from without declaring yourself bankrupt.
An IVA is a legally binding agreement between you and your lenders. By accepting the IVA, they are agreeing to accept lower payments, not to pursue any legal action against you (including trying to make you bankrupt), 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 (usually 5 years):
- You only pay what you can afford - all your credit cards, loan repayments and other debts are reduced to one single, affordable monthly payment
- The total amount of debt you have to repay is reduced - as part of the agreement your creditors will normally agree to write off a significant part of your debt
- You have a fixed end date you will have an agreed date in the future when you know you will be debt free
Money Management Services
At Bridgewood we want to help you overcome your debt problem and to make the most of your financial situation. This means we will support you in finding ways to increase the amount of disposable income you have each month:
- Increase your monthly income - we will use our specialist knowledge to identify additional benefits or tax credits you may be entitled to
- Reduce your outgoings - we have partnered with a number of specialist companies and will work with you to help you reduce your monthly bills (gas, electricity, telephone, insurance)
- Get Affordable Banking - we have partnered with Secure Trust Bank plc to offer a Current Bank Account designed to give you the finance support you need, including a MasterCard® prepaid card
Learn more about Money Management
Debt Consolidation
If you have a high number of expensive credit cards, then consolidating them all into one loan where you can make a single monthly payment at a lower interest rate could help you to manage your overall debt:
- Make your debts more manageable we can help you find a consolidation loan to simplify your finances and reduce your monthly payments
- Get a better deal through a Secured Loan - If you are a homeowner, you could benefit from lower interest rates and smaller monthly payments with a secured loan
Learn more about Debt Consolidation
Bankruptcy Support
Bankruptcy can be a difficult and painful process to go through, but for some people it may be the only option. Bridgewood offers a Bankruptcy Support Service which gives you access to specialist advisors who will help and support you through:
- Help you find an alternative we will make sure that every other available option has been explored
- Support you through the Process - our team of specialists can support you in filling out your bankruptcy petition, and will even accompany you to the Court if necessary
Learn more about Bankruptcy Support
Our initial advice on your debt solution is completely free and without obligation. Where an ongoing service is provided fees will be payable and we pride ourselves on being able to offer fees that are amongst the lowest in the industry. As part of our commitment to delivering exceptional customer service calls may be recorded for training and quality purposes.
Request a free callback from our expert Financial Consultants
Request a free callback from one of our expert Financial Consultants
