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Debt help, advice and guide

Welcome to the debt advice page. Our aim is to get you out of debt, and we will provide you with all the help and advice you need to achieve this goal. We also have a range of useful guides to give you more information about debt, which you can find below.

What is debt?

Debt is an amount owed to a person or organisation for money that they have lent. Debt can be represented by a loan, a mortgage or other form stating repayment terms and, if applicable, interest requirements. These different forms all imply intent to pay back an amount owed by a specific date, which is set forth in the repayment terms.

It is too easy to get into debt and find yourself in a position that can seem very hard to get out of. In this case it is very important that you speak to a financial advisor in order to get the best solution for you.

How do you get into debt?

There are hundreds of ways you can get into debt, and there is no single solution. Most debt is entered into voluntarily in the case of mortgages, credit cards, and loans to name a few, but in some other situations you may be laden with debt your weren’t expecting.

Debt becomes an issue when it becomes uncontrollable. When this happens you will be unable to meet repayments, and much of the time this will cause increased levels of debt which is commonly known as a debt spiral.

How to get out of debt

There is no 'one fix for all' when trying to get out of debt. Much will depend on the scale of the debt and how it has been managed so far. However there is help available, no matter how serious your debt problem is. To discuss your personal debt problem, please contact an advisor.

Debt and divorce/separation

In the unfortunate case of a divorce or separation the issue of outstanding debts can be complicated. Joint debts such as a mortgage are equally split between the two parties, whether they are married or not. The same applies to any other joint debts such as loans taken out and signed in both names, and the lender will seek repayment from both parties

Other debt however can be more complicated, and in some cases it is not entirely clear which party is more liable. In this case it may be necessary for you to seek advice in order to make sure you know where you stand and how the divorce/separation may affect your debt.

Debt help and advice for you

We know that debt is a very sensitive subject, and one that can have profound effects on your life. If you’re having problems controlling your debt and are considering a debt management solution, an IVA, or even bankruptcy, you need to consider your options very carefully.

There are a number of ways you can look to tackle the problems you face, but which one is right for you and who should you turn to explore the best way forward? Our trained advisors will be happy to answer any questions about debt issues you might be facing and can offer solutions to help turn your situation around.

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