Debt Reduction Plan | Debt Solutions

Debt reduction services

Getting a loan was sure a task, but repaying them has become a challenge for many borrowers. There are times where the borrower hit the bottom line of the financial crisis. To overcome such situations, the government of the UK has come up with few debt reduction services that help debtors overcome their financial arrears in a safe, secure, and legal way.

These plans, when tailored well by a licensed IP, will help in writing off most of your exorbitant debts, and you can repay the impending debts in a more affordable & manageable way for an anticipated period of time.

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Representative Example To Reduce Debts

Presuming That You Have a Total Unsecured Debt Amount of

£12k

Your Monthly Repaying Amounts Before Availing Debt Relief

£500

Your Monthly Repaying Amounts After Writing Off 80% Debts

£100

Write Off Debt Now

How it Works

Step 1

Fill & Submit Online A Fully Filled-In Application Form

Online Application is a quick process to know your details and requirements. It will help us in understanding your financial status.

Step 2

A Licensed IP Will Get In Touch & Study Your Situation

An IP will come up with the perfect solution you need for having a peaceful financial life. It will help you clear all your debts efficiently.

Step 3

The IP Will Coordinate Between You & Your Creditors

No need to worry about convincing your creditors concerning debt reduction. Your Expert IP will handle these trivial matters.

Step 4

If Agreed By The Lenders, Your Debts Will Be Written Off

When 75% of your creditors agree upon the agreement, you can write off 80% of your debts and can clear the rest in regular intervals.

Why Choose Us

No Creditor Chasing

The lenders will no longer chase you for repayments until the IVA period, & they have to deal with your IP

Debt Waiver

If 75% of your creditors agree to the IVA, it will be finalised, and applicable even to those who do not agree for it

Safe and Secure

Right from applying to processing the request, our entire procedure is simple, safe, transparent, and uncomplicated

Fixed Charges

All other charges, including the interest rates, will be frozen on the total debt amount that you owe to your lenders

Manageable Terms

With IVA solutions, you can write off your debts by making affordable payments and manage your finances well

Save Your Assets

With an IVA, you can legally write off your debts, and the lenders or the court will no longer seize your assets

Frequently Asked Questions

To avail and apply for solutions to reduce debts, you need to be eligible for it. Apart from being in a situation wherein you genuinely cannot repay your debts, the other most common criteria include – having maximum outstanding debt of £20K with total asset value of less than £1000 and a monthly disposable income of not more than £50. If your financial situation is on these lines, you can avail a suitable program to overcome your debts.

In the UK, there are many plans that help debtors get out of debts. However, they are referred by different names in different places, and come with different rules & regulations. In England, Wales, and Northern Ireland, the popular services are - Debt Management Plan (DMP), Individual Voluntary Arrangement (IVA), Debt Relief Order (DRO), Bankruptcy, & Debt Consolidation. However, in Scotland, they are known differently by terms like - Protected Trust Deed (PTD), Minimal Asset Process (MAP), Sequestration (the Scottish version of bankruptcy), & Debt Arrangement Scheme (DAS).

Any debt management plan will be decided only after considering your financial circumstances like your debts, your income, etc. Your IP, who will study your entire financial condition, will be able to choose the best fitted plan for you and sort out your debt issues with your creditors. If your lenders also agree with the debt relief plan, then most of your unaffordable debts can be written off, and you will have to repay manageable amounts only.

All debt help services are legal proceedings that will be known to you, your IP, and your creditors only. However, until the entire debt management program is completed successfully, the details in regard to your debts and your program will be registered in a public Insolvency Register, which can be accessed by anyone upon paying an amount of money. After a certain stipulated time, the details will be removed from the register.

SwiftDebtAssist that undertakes procedures to provide debt management, debt adjusting, and debt counseling solutions. We directly do not provide the debt help solutions, but offer no-obligation referrals to customers and help them get connected with trusted & licensed providers of various debt management solutions, from whom suitable free debt advice can be availed, as per their financial circumstances.

Reduce Your Unaffordable Debts In A Legitimate & Easy Way

Clear 75% of your debts

100% safe and secure

Experienced advice