In our final guest-blog from StepChange as part of their Debt Awareness Week, they look at how to find the right debt solution for you…
Step 5: The solution
So you want to get out of debt. You’ve drawn up a list of your outgoings. You’re armed with who you owe money to and how much. Now it’s about seeing which debt solution is right for you.
A free debt management plan (DMP) is one way of repaying your debts; an individual voluntary arrangement (IVA) or bankruptcy are others. The best way to ensure you get what’s right for you is to get impartial advice from a debt charity.
StepChange Debt Charity offer their debt advice online through their StepChange Debt Remedy tool. Enter your budget information and it’ll instantly recommend the best solution for you. It’s free, confidential and easy to use.
The key points to remember:
- No debt problem is impossible – facing it can often be the biggest hurdle
- If you’re struggling, don’t apply for more credit – it won’t help
- Creditors cannot force you pay more than you can afford – you just need to work out how much that is
- Don’t be tempted to pay for debt help – free, impartial advice is always best
- You’re not alone – debt charities are here to support you!
Remember, if you’d prefer you can contact StepChange to chat to an advisor over the phone, have an online chat or request a call back.