Debt Advice Chesterfield

From 2002 to 2009, the amount of people in Derbyshire being declared bankrupt increased steadily before reaching a peak in 2009. As more and more people borrow more and more money, this pattern is likely to continue over the coming years, particularly as the recession has hit many individuals and businesses in towns like Chesterfield, very hard.

It can be hard to stay on top of debts at the best of times, but in this uncertain economic period, with people losing their jobs or having to take pay cuts, the task becomes even more difficult. What was once affordable, very quickly becomes unaffordable and you may find yourself struggling to even pay back the minimum repayments on credit cards or loans. If you live in Chesterfield and you are finding your debts unmanageable, you are not alone.

Local Debt Help Chesterfield

By coming to the Bridgewood, you have made your first step to financial freedom. At this point, you have obviously realised that it is time to face up to your debts and do something about them. At Bridgewood, we have a team of specialists who can find a solution to your debt problem, no matter how complex it is.

We are based in Nottingham but we work with businesses and individuals nationwide, including Chesterfield, providing debt solutions to anyone who is struggling. We are always on hand to offer advice and guidance if you are unsure of how to go forward with regards to your financial situation.

You may feel like you owe too much money, to too many different people, and it would be impossible for us to solve your problem. However, we have very good working relationships with the creditor community and we are confident that we can get you on the path to financial freedom, no matter what your circumstances.

Debt Solutions Chesterfield

Debt Management Plans Chesterfield

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) Chesterfield

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

Learn more about IVAs »

Bankruptcy Support Chesterfield

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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