Debt Advice Bakewell
The small market town of Bakewell has seen the effects of the economic downturn over the past few years, with businesses and individuals alike feeling the pinch. Unemployment hit a record high recently and this has been felt throughout Derbyshire.
The statistics for people in the area struggling with debt do not make for pleasant reading, with the amount of bankruptcies and IVAs rocketing up to an all time high in 2009. If you reside in Bakewell and are starting to find your debts unmanageable, take charge now before they spiral out of control.
Local Debt Help Bakewell
Bridgewood is based in Nottingham and we specialise in offering debt management and debt solutions to those who are struggling to pay their debts. We service all of the surrounding areas, offering face to face appointments in the office or at your home. We also work with individuals and businesses from around the UK, who can contact us at any time via our national debt helpline.
Being in debt can be very difficult, but if you live in Bakewell and are looking for a way out then pick up the phone and call Bridgewood today. We have very close working relationships with creditors and we aim to work with you to find the best solution for your own individual circumstances. No debt problem is ever the same, we recognise this and will only ever work in your best interests.
Debt Solutions Bakewell
Debt Management Plans Bakewell
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 relationship 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) Bakewell
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 Bakewell
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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