-
UK Wide Debt Advice Charity
Call us at 0800 085 0226
E-mail: contact@debtsupporttrust.org.uk

20

Free Bankruptcy Advice

A route to resolving serious debt problems is to go bankrupt and for thousands of people, that is the choice they make every year. At Debt Support Trust, we are a registered charity with volunteers and qualified advisors on hand to provide support and assistance to people who wish to go bankrupt.

Our advice and help is free for people living in the UK. You can contact us on 0800 085 0226 to discuss bankruptcy and receive impartial bankruptcy advice for anybody struggling with debt in the UK.

What Does Bankruptcy Advice Involve?

When you speak to somebody about bankruptcy you will be making the first step along the journey to become debt free. It's an important step and often the hardest. But, friends and family, along with debt advice charities will be here to help.

Firstly, a free charity advisor will want to check that bankruptcy is the right solution for you. Entering bankruptcy could mean losing your house, if your property is mortgaged, so it's important to speak to a charity for free bankruptcy advice.

Some companies charge to provide debt advice but with a registered money advice charity all bankruptcy help is free.

Once your personal and financial situation has been established a debt advisor will explain what debt solutions exist for you. The advisor will explain the positives and negatives of the solution and make sure you are fully aware of the process. This is also an opportunity for you to ask any questions which you may have.

Advice about bankruptcy is free from a registered debt advice charity.  You can seek free face to face bankruptcy help from your local Citizens Advice Bureau or call Debt Support Trust for telephone debt help on 0800 085 0226.

Who Should You Get Free Bankruptcy Advice From?

You can get bankruptcy help from for-profit companies or from charities. All charities will provide free bankruptcy help. For profit companies will possibly charge a fee to help you enter bankruptcy.

Any advice you receive from our debt charity will not only be free but it will be 100% confidential.

How Long Does It Take To Get Free Bankruptcy Advice?

With Debt Support Trust you can telephone us for bankruptcy help immediately. Our advisors work from 8am to 7pm Monday to Friday. You can also get advice via email on contact@debtsupporttrust.org.uk. We aim to respond to you within 24 hours on week days.

Help Going Bankrupt

The first step is asking for debt help. Depending on your situation there may be a number of debt solutions available to choose from. Speak to a friendly, trained advisor today about your debt problem on 0800 085 0226.

Friday, October 12, 2012
Debt Support Trust
read more

Debt Free Helpline

Deciding where to turn when in debt is a difficult decision. Often people choose a debt advice helpline to call because they can remain relatively anonymous.

At Debt Support Trust we are a registered money advice charity with expert advisors and supportive volunteers on hand to help people become debt free. Our helpline is open to people living in the UK and offers the confidentiality and free debt help people require. debthelpline

The debt free charity helpline is open from 8am until 7pm Monday to Friday.

The Debt Helpline

Our debt helpline is a national support. We provide people in England, Wales, Northern Ireland and Scotland with debt help solutions to support them in becoming debt free.

The advisors and volunteers at Debt Support Trust are fully trained on the different debt solutions, which will depend on where in the UK you reside.

The supportive nature of our volunteers and their experience in providing the best debt advice ensures anybody with a debt problem can trust Debt Support Trust.

Debt solutions which are commonly discussed within our debt advice helpline are:

  • Debt management
  • IVA
  • Protected Trust Deed
  • Bankruptcy

We explain every possible debt solution to you over the phone and supply you with the pros and cons for your specific situation. This enables you to make an informed decision about your debts.

Our telephone helpline team are always available to help, before, during and after your debt solution. You can trust Debt Support Trust to help.

Charity Debt Line

Our charity debt line can be reached on 0800 085 0226 or you can complete a free debt analyser to receive online debt advice.

analyseyourdebt

For a friendly chat with Debt Support Trust please give us a call on 0800 085 0226 between 8am and 7pm Monday to Friday. You can also leave us a message out with these hours and we will gladly give you a call back.

Tuesday, October 09, 2012
Debt Support Trust
read more

Where to go for debt advice

There are a variety of different organisations available to help you with your debt problems. You can choose whether you want a for profit company who will charge you for their service or a not for profit organisation like Debt Support Trust.woman_telephone_debt1

Where to go for debt advice

We do not charge you for debt advice and any conversation with Debt Support Trust is completely confidential.

As a debt advice charity our advice is completely free, independent and impartial. If you are wondering where to go for debt advice then we would always advise speaking to a debt advice charity. Other debt companies may charge you for the service or debt solution, which Debt Support Trust does not do.

There are a number of different debt solutions available and the specific debt solution suitable for you will depend on your personal and financial situation.  Some of the debt solutions you may be suitable for include:

  • Debt Management Plan
  • Debt Arrangement Scheme
  • IVA
  • Protected Trust Deed
  • Bankruptcy

These debt solutions all have positives and negatives which you should be aware of. Each debt solution will have an impact on your credit file, assets, disposable income and the length of time before you are debt free. A qualified debt advisor will be able to explain specifically what these debt solutions will mean for you.

Face to face or Telephone debt advice

At Debt Support Trust we understand that some people prefer face to face debt advice, which is something we are not able to provide. As a result, if you would prefer face to face debt advice we recommend speaking to your local Citizens Advice Bureau for free and impartial debt advice on a face to face basis.

If you would like immediate telephone advice then Debt Support Trust is here to help. You can pick up the telephone and get debt advice on 0800 085 0226. If you would prefer to get debt advice online then try the Debt Support Trust debt test which gives you an answer on what debt solution would be best.

analyseyourdebt

There are positives and negatives with both face to face and telephone debt advice, so it's up to you which you would prefer.

Get free debt advice for a debt problem

It can be worrying where to get debt advice, but there are always options available. Debt Support Trust is always here to provide debt support and advice.

Should you decide on telephone debt advice please call Debt Support Trust on 0800 085 0226. Our qualified debt advisors and supportive volunteers are available between 8am and 7pm Monday to Friday to provide immediate debt help.

analyseyourdebt

Tuesday, October 02, 2012
Debt Support Trust
read more

Bankruptcy Expert

When you feel like your debt problems are mounting you may be searching for a bankruptcy expert to help. Look no further than Debt Support Trust.

Debt Support Trust is a registered debt advice charity providing independent, impartial and free debt advice.

It's our responsibility to ensure you have every debt appropriate debt solution to choose from. So, if you think you're bankrupt then a qualified expert will be happy to explain the process, as well as any other debt solution which you may qualify for.

Having the information for each debt solution is stage one is becoming debt free. You can call a bankruptcy specialist from Debt Support Trust on 0800 085 0226.

analyseyourdebt

Charity Bankruptcy Expert

When you call our debt advice team we immediately try to put you at ease. We need to understand your personal and financial situation. For example, do you own a house? Are you working full time? Do you have a car? The questions we ask help our debt expert understand your situation.

Once our charity advisors have gathered the appropriate information they will determine which debt solutions would be most applicable for you. Our advisors are experts in providing the most accurate advice on each debt solution. If bankruptcy is a suitable solution this will be explained in full. We discuss the benefits and negatives of bankruptcy and our experts will cover the process and costs as well.

In many cases, people are suitable for more than one debt solution. Often there are two or three debt solutions. This means you will have a choice on which debt solution to proceed with. There are benefits and negatives to each which should be fully explained so you are completely informed.

It's our responsibility at Debt Support Trust to provide you with this information so you can decide which route to proceed with. Once you decide a Debt Support Trust debt expert will guide you through the process so you are never alone.

Bankruptcy Specialist

If you think bankruptcy is the right debt solution for you, or you're just not sure, then you can trust Debt Support Trust to help. As a registered debt advice charity we want to help you to become debt free. From our bankruptcy specialists to our debt management experts we're all here to help you.

If you want to avoid bankruptcy we can also help explore options to help you do that too. There are lots of debt solutions and we will do our best to help you with your debt problems.

Debt Support Trust is a not for profit debt advice charity. Any conversation you have with any of our advisors is confidential, impartial and honest.

Help with Bankruptcy

If you need bankruptcy help please don't struggle alone. Debt Support Trust is here to help you with your bankruptcy questions. Our bankruptcy experts are available to talk through the pros and cons of bankruptcy, the process and what it will mean specifically for you.

You can contact Debt Support Trust on 0800 085 0226 or complete our debt analyser to provide you with an idea of the best debt solution for you.

analyseyourdebt

Tuesday, September 25, 2012
Debt Support Trust
read more

In Debt: Changes to Energy Debt

New measures released by industry regulator, Ofgem, means that customers on a pre-paid meter who owe their energy supplier as much as £500 can switch energy supplier.

At the moment, if you owe your energy supplier £200 or less then you can move to a new company, however with the amount of arrears typically exceeding this level, Ofgem has amended the rules.

Gas and Electricity Debt

A high percentage of people supported at Debt Support Trust owe money to their gas and electricity supplier and it means often people are living in fuel poverty.

At Debt Support Trust, we believe that the most impoverished people in society were tied to an energy supplier and being charged higher rates for fuel because of their arrears. The person in debt had no choice but to accept this because of the arrears. This made cutting the ties between energy supplier and client very difficult.

The news means people with debt over £200 to the energy supplier but under £500 can now switch energy supplier to a cheaper deal. The indebted individual isn't getting away without paying the money, but they will be in a better position to repay the debt because of the money they are able to save on their fuel bills.

Number of people on Pre-Paid Meters

Ofgem has said there are 320,000 gas and 315,000 electricity customers who are on pre-paid meters because their owe money to their energy supplier.

A pre-paid meter is installed when the energy supplied is owed money. This was used for the energy provider to reclaim the money they were owed. The price of the fuel is higher than normal so the energy company can recoup the money they are due.

However, this solutions doesn't encourage people to get back out of debt and instead often people are left in fuel poverty because they are part of the 'can't pay society'.

Monday, September 24, 2012
Debt Support Trust
read more

Co-op Bank Accounts for Bankrupts

The Co-operative bank has decided to withdraw its free bank account, the cashminder account, for people who are bankrupt.

The Co-operative bank account was one of two bank accounts available for people who were bankrupt. It was a free banking service which offered the standard online and telephone banking facilities. Most other banks would refuse anybody who was currently bankrupt a bank account.

Barclays is the only bank providing a standard bank account now.

In the past the only reason a person would not get a bank account with Co-Op or Barclays would be if they had a record of fraud.

When entering bankruptcy a person requires a fresh bank account with a creditor they don't owe money to. This means switching bank if necessary. However, the Co-Operative has stated they will no longer accept people who are bankrupt for their basic cashminder account.

What Happens If I Have A Co-Op Bank Account?

If you currently bank with the Co-Op and don't owe them any money then you will be able to retain this bank account. If you recently applied for a Co-op bank account with the intention of entering an insolvency solution, like bankruptcy, then you will be asked to find alternative banking arrangements within 30 days.

The Co-Operative has stated that they are unfairly supporting the free banking industry for all, while other banks are refusing to help the most indebted individuals receive free banking help.

30% of the 330,000 Co-Op cashminder customers have been through an insolvency solution.

How Do Bankrupt People Bank?

Owning a bank account is essential in today's society. We need bank accounts to pay for shopping, receive our wages and for monthly direct debits.

People who are bankrupt and cannot get a free bank account are being forced to pay for a bank account. This can cost £20 per month, or a fee for every time money is withdrawn.

Seek Debt Help

You can seek debt help today from Debt Support Trust if you are struggling with a debt problem. We will advise you fully on the available debt solutions and the best ways to proceed.

You can contact Debt Support Trust on 0800 085 0226 or complete our debt analyser.

analyseyourdebt

Tuesday, September 18, 2012
Debt Support Trust
read more

Debt Problems: "Whirlpool of Mess"

We often receive very kind letters and telephone calls from people who were at first distraught about their debt situation, but had taken our advice and sorted out their money worries.

One woman who contacted us at the start of July was struggling to negotiate with her creditors. She contacted Debt Support Trust to ask for some advice as she was unsure how to proceed. The company wanted £100 per month and she couldn't afford it because she was struggling to find a job.

A Debt Support Trust advisor gathered some information and gave advice and support to help get the situation sorted. The creditor which was proving to be the most difficult was a catalogue debt, but after 6 weeks they have agreed to reduce the payment they requested from £100 per month to £5.

Telephone Call After Debt Advice

After providing the advice we like to follow up and make sure everything was satisfactory and people are not left on their own with their problems. The client was happy with our support and was waiting to hear back from her creditors.

We received a telephone call today to thank the people at Debt Support Trust for their support.

Stuart Carmichael, Chief Executive at Debt Support Trust said: "We appreciate receiving a thank you from a client we've helped. The volunteers and advisors at Debt Support Trust work very hard to look after everyone in debt and provide accurate and timely advice.

This client stood out to us because of the phrases she used to describe her problem. She said she was in a 'whirlpool of mess' which we managed to help her resolve."

Anybody looking for debt advice should contact a registered debt advice charity, such as the Citizens Advice Bureau or Debt Support Trust on 0800 085 0226.

Wednesday, September 12, 2012
Debt Support Trust
read more

Steps to Become Debt Free

Everyday people telephone our charity, Debt Support Trust, asking for help to become debt free. The process will be different for every person. It will depend on a person's level of debt, what assets they own and how much they can afford, if anything, to repay towards their debt.

However, the positive news is that there is always a way to become debt free and live a life without personal debt problems.

Becoming debt free

The good news is you've already taken the first step to becoming debt free. You are on the website of Debt Support Trust, a registered debt advice charity, helping people across the UK.

You may have found our website from your local council, the Direct.gov website, your local NHS or via a number of other means. Whatever way you heard about Debt Support Trust, you've taken the first step and are reading about the solutions to debt.

Clearing my debt

Nobody ever wants to get into a debt problem. Often it advances month on month until the problem is too large to deal with anymore.

So, what we do at Debt Support Trust is understand a little about your situation. Are you married? Do you have children? Are you working? These are all important questions for our helpful debt advisors to guide you through the available debt solutions.

Once we understand a little about your personal and financial situation we can tell you exactly what solutions you are suitable for. Usually we can provide an exact length of time until you will be debt free. This is because most debt solutions are a fixed period of time. For the debt solutions which are not a fixed length of time, we will give you an estimated date of when you will be debt free.

Free of Debt at last

To finally get free of debt and get your finances on track you can take a positive step today. Speak to a registered authorised debt advice charity. There are plenty to choose from.

If you would prefer face to face advice, then your local Citizens Advice Bureau can offer expert help. If you would prefer telephone or internet based help then a friendly Debt Support Trust advisor would be happy to help you.

To start the process with Debt Support Trust you can:

Telephone: 0800 085 0226

Email: contact@debtsupporttrust.org.uk

Debt analyser: Complete a debt analyser and we will call you back if you so wish,

analyseyourdebt

We exist at Debt Support Trust to help people to become debt free. It's never enjoyable worrying about debt, so take a positive step today and get debt free by speaking to a debt advice charity.

Monday, September 10, 2012
Debt Support Trust
read more

Debt Consolidation Loan For Debt

It's not uncommon to apply for a debt consolidation loan for debt problems. It would often be simpler to have all debt in one place and pay one interest rate. Typically, it's quicker to manage because it's one payment per month, the costs involved are easier to understand and usually you will know when you will be debt free.

Debt Consolidation Loan For Debt

Debt consolidation loans was a popular solution to debt in the past when the availability of credit was far greater.

Today, banks and other lenders and less likely to lend money for the purpose of debt consolidation. While it would be an ideal solution to resolve debt problems, it can often be tricky to get a debt consolidation loan.

Tips for a Debt Consolidation Loan

To give yourself the best possible opportunity with your debt consolidation you should apply for your credit file first. Experian offer a free 30 day trial. Check your credit file to ensure it's accurate. If there are any anomolies have them removed by the credit reference agency.

Every time you apply for a debt consolidation loan it will leave a footprint on your credit file. This can negatively affect your ability to get credit if you have too many footprints on your file in a short space of time.

So, it's always best to apply for the credit you require or to search for lenders who specifically offer debt consolidation loans.

I Can't Get A Debt Consolidation Loan

If you are unsuccessful and can't obtain a debt consolidation loan then it's important you seek debt advice.  There are options available to you which can help you with similar benefits to the debt consolidation loan.

For example, some debt solutions enable you to make one monthly payment to one company. There are also some debt solutions which will guarantee to freeze interest and charges.

To ensure you are being provided full advice you should speak to a debt advice charity. You can contact your local Citizens Advice Bureau for face to face advice or telephone 0800 085 0226 to speak to a Debt Support Trust advisor.

Our debt analyser could help you with an online debt solution:

analyseyourdebt

Wednesday, September 05, 2012
Debt Support Trust
read more

Bankruptcy Advice

Money problems can lead people to question whether bankruptcy is the right debt solution for them. In many case, bankruptcy advice is exactly what is required.

However, there can be other debt solutions which a person in debt is applicable for too. Getting complete debt advice from a registered debt advice charity is the best way to be sure you have all the facts so you can make an informed decision.

Bankruptcy Advice

When bankruptcy is the best debt solution an advisor at Debt Support Trust will explain the process of going bankrupt.

In some instances you may be able to enter a debt relief order to go bankrupt. A debt relief order is a cheaper route into bankruptcy and would cost you £90. To be applicable for a debt relief order your unsecured debt should be under £15,000. You should not have more than £50 left at the end of any given month, before you start to pay your debts.  You cannot own a property. Any assets should be worth £300 or less, unless it's a car which should be under the value of £1,000. You must be living in England, Wales or Northern Ireland can't have entered a debt relief order in the last six years.

If you meet these criteria then a debt advisor experienced in bankruptcy advice can help you with your DRO. A DRO will mean you don't have to go to court and the cost will be cheaper.

Should your debt be above £15,000, or you don't meet the DRO criteria for any other reason then bankruptcy would cost £700. You would need to go to your local court to submit your bankruptcy petition. However, it's essential you get qualified debt advice from a registered charity before proceeding.

Bankruptcy & Other Debt Solutions

There may be the possibility that other debt solutions are applicable. All debt solutions come with pros and cons but often people want to avoid the stigma associated with bankruptcy and will choose another route.

In bankruptcy, if you have spare disposable income then you will be asked to contribute this towards your debts for a total of three years. Other debt solutions allow you to avoid bankruptcy whilst repaying some, if not all, of your debt.

A debt management plan is a debt solution where you repay all of your debt, but over a longer than agreed period of time. The creditors will be asked to freeze interest and charges to enable you to repay your debt. Always choose a free debt management company and not a for profit company who would charge you fees.

An IVA is another debt solution you may consider. The IVA is a formal debt solution, usually lasting five years. You repay an affordable amount each month and at the end of the solution any interest, charges and outstanding debt is cleared. Remember, in an IVA your share of any equity from your property will be taken into account and may be required for the creditors.

Bankruptcy Debt Advice

Bankruptcy debt advice is available from Debt Support Trust. If you think bankruptcy is the best solution for you then get debt advice from a registered charity on 0800 085 0226 and we can help you along the process to become debt free.

Wednesday, August 29, 2012
Debt Support Trust
read more