Debt Advice Alfreton
If you are living in Alfreton, Derbyshire, it will have been impossible not to notice the effects of the economic downturn. With many people losing their jobs and struggling to pay their mortgage and their debts, it is no wonder that the number of people being declared bankrupt in Derbyshire hit an all time high in 2009.
The number of individuals entering into Individual Voluntary Arrangements (IVAs) and other debt management solutions has also been steadily increasing in recent years. So if you are one of the people struggling with debt, you are not alone.
Local Debt Help Alfreton
Bridgewood offer individualised debt solutions to any individual who is having troubles coping with their debts. Although the Bridgewood office is based in Nottingham, we service the whole of the United Kingdom, including Alfreton through our debt helpline. We can also meet those looking for advice in person, either in our offices or via a home visit.
No matter what the size of your debt, we are sure that we can help you to get on top of the situation and begin on the path to debt freedom. Debt can affect every aspect of your life and can be easy to ignore, but the sooner you start to tackle the problem, the sooner you will be free of the problem.
Debt Solutions Alfreton
Debt Management Plans Alfreton
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 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) Alfreton
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
Bankruptcy Support Alfreton
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 »
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