Christmas is over and for many it’s time to deal with their debt problem.

Each year, after Christmas and New Year Debt Support Trust will be at its busiest. We will help thousands of people during the months of January, February and March as people aim to find a resolution to their debt problems.

Whether it’s a New Year’s resolution to get debt under control or if you were just waiting to get Christmas out the way before seeking professional debt advice, at Debt Support Trust our charity is on hand to help.

New Year New Financial Start

It’s often a New Year goal to become debt free in 2013. For a lot of people we help at Debt Support Trust, they have been in debt for years and can’t face another year struggling to pay the bills and survive financially. They need help to break the cycle.

So, in order to help we need to understand the situation. To do this we ask about a person’s income, expenditure and their debts. This helps to create an understanding of where the problem is.

Debt problems exist for many reasons and they vary for different people. The interest on debt can be the problem whereby the debt has become so severe that they can only afford the interest payment on the various debts. This means the debt isn’t being cleared and a debt solution is required.

For other people, they have little or no money to be able to make the monthly interest payment towards their debts. In this instance we can help with a debt solution or to negotiate with creditors to make token payments.

Debt solutions will affect your credit rating and should be entered cautiously, however they can also help people in debt become debt free again.

Debt Solutions For 2013

If you want to become debt free in 2013 you can take the first step by seeking debt help today. There are charities available to help you become debt free. If you would like help from Debt Support Trust you can call us on 0800 085 0226.

Becoming debt free can take a number of years to accomplish, however, the negative aspects of being in debt, such as bailiffs at your door or threatening letters from creditors will be resolved quickly. Debt solutions aim to place you on a path to once again become free of unsecured debt. This includes debt such as credit cards, payday loan, overdrafts, store cards among others.

If each debt solution you will be asked to pay what you can reasonably afford. The debt solutions that may be applicable include:

Debt Management: A debt management plan is an arrangement between a person in debt and their creditors whereby they agree to make an affordable monthly repayment towards the debt. Interest and charges could be frozen.

Debt Arrangement Scheme: Similar to the debt management plan but is only available for people in Scotland. This solution is formal because it can protect somebody in debt from their creditors and help establish a legally binding repayment plan.

IVA: For some people IVA debt help is the best debt solution to help them become debt free. An IVA usually lasts for 5 years and at the end of the solution any debt which has not been repaid will be written off. This solution will consider equity in assets, such as a house, so speaking to a debt advisor is essential before deciding to proceed with this solution.

Trust Deed: Similar to an IVA, but for people in Scotland. The Trust Deed usually lasts for 3 years where a monthly payment is made towards the debt. Any debt remaining at the end of the solution is written off.

Bankruptcy: There are various routes to enter bankruptcy but it is one route to become debt free. Seeking professional debt advice is essential before entering this solution as it can affect your job, house, cars and other assets.

Get Debt Help in 2013

If you want to make 2013 the year you take the step towards becoming debt free then speak to a friendly advisor at Debt Support Trust. We listen to your situation in order to understand and recommend solutions to help you become debt free.

The telephone call will last for between 15 and 30 minutes and at the end you will have all of the appropriate debt solutions and be able to make an informed decision about how to become debt free.

You can call Debt Support Trust on 0800 085 0226.