Debt Advice Dronfield

Like many towns in Derbyshire, Dronfield and its residents have noticed big changes since the recession hit. Those who have debts have felt the burden more than most as they struggle to make their repayments.

In 2002, just 317 people were declared bankrupt in Derbyshire, fast forward to 2009 and that figure jumped to 1,154. The number of people entering into Individual Voluntary Arrangements has also increased dramatically and it is clear that the recession has played a role in this.

If you live in Dronfield and you are beginning to find it a struggle to stay on top of your debts, you are not alone.

Local Debt Help Dronfield

Bridgewood are specialists when it comes to finding debt solutions for businesses and individuals. If you are struggling with debt, you can come to our Nottingham based offices to talk to us face to face, or you can reach us on our national debt helpline. Alternatively, we may be able to send a Financial Consultant out to your home to discuss your situation with you.

We can offer you advice and guidance as well as setting debt repayment plans up for you. We have a wealth of experience in dealing with people who are struggling with debt and we know the impact it can have on all aspects of your life. With our close working relationships with creditors, we can find the best solution for your personal circumstances.

Debt Solutions Dronfield

Debt Management Plans Dronfield

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) Dronfield

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 Dronfield

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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