On your initial call one of our experienced team will gather some basic information including your income, expenditure, level of debt and assets. This will allow us to better understand your financial situation and helps us ensure we are giving you tailored debt advice and support.
There is no minimum or maximum level of debt which a person needs to have in order to speak to Debt Support Trust. Whatever your level of debt may be, if you are struggling to repay it then we want to help.
If you have debt problems which have become unmanageable, please call Debt Support Trust on 0800 085 0226 and one of our experienced and friendly debt advisers will be happy to help.
Where a qualified debt advisor recommends general advice we will help you identify ways to ease your financial position and provide tailored support for you.
For featured Debt Advice about a specific type of debt problem please click the relevant link below:
Debt Support Trust can help you manage your finances and enable you to control your debt problem. One of the ways this is achieved is through our Money Manager application. Our Money Manager allows you to record your income, expenditure, assets, debts and any payments you’ve made to your debts in one place.
Debt to Friends & Family
Debt to family and friends can cause relationship problems but a survey has shown that more people are being forced to borrow money this way to survive.
As the cost of living increases and unemployment continues to increase due to the coronavirus pandemic, people are turning to friends and family to help make ends meet.
The Aviva report has found that the average household in debt owes £2,000 to friends and family. This is the same amount as being borrowed on credit cards.
Why Do People Borrow From Friends and Family?
We’re experiencing a change in social beliefs surrounding debt. In the past, people often wouldn’t share their debt and money problems with anybody, including friends and family. However, as times get tougher and the availability of credit has been restricted, it’s a person’s nearest and dearest that are being asked to help.
What To Do In Debt?
It’s vital for families in debt and struggling to repay their contractual payments to get advice. At Debt Support Trust our charity advisors have helped many people who owe money to friends and family and can provide tailored debt advice.
Our charity helps people deal with their debt problems. We do this by listening to your situation and by finding positive solutions to become debt free. There are always routes out of debt and we’ll help find the right one for you.
If you want our help, you can telephone 0800 085 0226 or complete an online debt test for online debt help.
Help Negotiating With Creditors
Often people struggling with debt are worried about speaking to their creditors, however by doing so they could negotiate a more manageable arrangement to repay money owned.
If you find yourself in temporary financial hardship, negotiating with creditors can give you extra time to resolve your present situation.
Before negotiating with creditors it’s important to know exactly how much money you have coming in each month and how much you are paying towards essential bills. This can be done by completing an income and expenditure.
You should only agree to repay what you can realistically afford and you should ask creditors t0 freeze interest and charges, some but not all will agree to this proposal.
It is important to speak with your creditors before they transfer the debt to a collection agent. Once the debt has been transferred it is highly unlikely you will be able to negotiate with the original lender.
Once a payment arrangement has been agreed it is wise to get this in writing from the company. The arrangement won’t be legally binding, however it will help show evidence of what has been negotiated, should you require it at a later date.
At Debt Support Trust we can email you a letter of negotiation and support you in liaising with companies you owe money to. If you would like advice on how to negotiate with your creditors, please call us on 0800 085 0226. Alternatively, you can complete our online debt enquiry form and we will arrange to call you.
Statue Barred Debt
After a set period of time certain debts may become statue barred, which means creditors are no longer allowed to take any action.
If you believe your debt may be statue barred it’s important to seek debt advice and speak to your creditors.
Find out more on our statue barred debt advice page.