Debt Advice Derby

The amount of people filing for bankruptcy or entering into IVAs in Derby has increased dramatically from 2002-2009. The situation has been made many times worse by the recent economic uncertainty with job losses leading to missed payments on debts and mortgages.

If you are in the Derby area and you are struggling to pay your monthly debt repayments, you are not alone, and you are not on your own. With a variety of debt solutions on offer, Bridgewood can help you get back to financial freedom.

Local Debt Help Derby

Bridgewood are based in Nottingham City Centre; however we service individuals and businesses throughout the UK via our helpline, offering advice and guidance on how to conquer your debts. We can also meet you in person either in our office or at your home.

If you decide that you want to work with Bridgewood, you will be given your own Personal Financial Consultant who will be there to provide answers to any questions you might have and to give you any advice that you need.

It does not matter how big or small your debt is, if it is starting to take over your life then you need to deal with it today. As soon as you start to tackle your debt, you will feel a weight lifted from your shoulders as you begin on the path to financial freedom.

Debt Solutions Derby

Debt Management Plans Derby

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.

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Individual Voluntary Arrangement (IVA) Derby

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 Derby

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 »