These days, almost everyone uses credit cards as part of their daily life, but with personal loans, store cards, catalogues and other bills adding to the problem, its not surprising that many people are in need of credit card debt relief.
For many people, using their credit card regularly isn’t a present a problem until something goes wrong. But using a credit card for all purchases can mean that spending on your cards can get out of control.
Typically, using a credit card to buy everyday items (like fuel and food, or to pay for household bills and for cash advances) can lead to balances on your plastic building up to unmanageable levels. These purchases should generally be made from the household budget that should cover all of these regular everyday items.
If you find you’re regularly having to spend on your plastic to cover everyday purchases like these, it could signal that you have an underlying debt problem and you could benefit from some credit card debt relief.
What is credit card debt relief?
If you are struggling with your store cards and credit card debts, you may need some credit card debt relief. We offer many different types of credit card debt relief, from debt management plans and Individual Voluntary Arrangements (IVAs), to Trust Deeds and other impartial debt advice.
If you’re struggling with the repayments on your credit cards, and other debts, then now is the time to act – before the situation gets any worse.
The solutions for Credit Card Debt Relief
Debt Management Plans (DMP) – All of your unsecured debts are gathered together, including credit cards and other bills, and consolidated into one affordable monthly payment – without having to take out another loan. We will negotiate reduced payments with your creditors and request that interest and charges are frozen. You simply make your monthly payment to us and we will deal with all other matters, with your creditors, including correspondence and phone calls. If you would like more information, click on this debt management link.
Individual Voluntary Arrangement (IVA) – An IVA is a legal arrangement, supervised by a qualified Insolvency Practitioner (IP). It is similar to a DMP, in that all of your unsecured balances will be part of the arrangement. This includes all of your credit cards as well as store cards, personal loans, catalogues and other debts. We will analyse your income and expenditure and calculate how much you can afford to pay into your IVA each month. The arrangement will be over a fixed period (usually five years) and once you have completed your IVA, any remaining debt will be written off. If you would like more information, click on this IVA advice link.
Trust Deed – A Trust Deed is only available to residents of Scotland, like an IVA a Trust Deed is a legally binding agreement between you and your creditors. A Trust Deed can only be set up by a licensed Insolvency Practitioner (IP). In most cases your creditors will agree to freeze interest charges and to write off whatever unsecured balances you still owe at the end of the term. Once the Trust Deed is in place you will be legally protected against any action by your creditors and therefore avoid bankruptcy or further legal action as long as you maintain regular payments for a fixed period of time (usually three years). If you would like more information, click on this trust deeds link.
If you are feeling buried under an avalanche of bills, and you would like more information on credit card debt relief, then call the number at the top of this page today. We will do our best to help you, and our advice is free of charge.
