Make debt reduction your immediate goal

Being in debt makes it very difficult to get on top of your finances and enjoy life. That’s why you need to make debt reduction a priority. The Debt Advice Trust can help you decide whether you are in a position to clear your debts completely with an IVA, for example, or whether another debt solution can at least help you to achieve debt reduction and make your repayments more manageable.

The Debt Advice Trust is a registered not for profit organisation with extensive experience of helping people like you to reduce your debts by giving you expert, honest and impartial advice.

Take control of your debts

If you’re not careful, debt can take over your life and put you under a constant cloud of stress and worry. It may not always be possible to clear all your debts, depending on your circumstances, but debt reduction can help put you back in control of your finances.

Lower repayments

By reducing your debt, you can expect to have lower monthly repayments. A Debt Consolidation Loan or Debt Management Plan from a reputable Debt Management Company could achieve this, but do seek our advice first.

Debt Reduction FAQ's

• Q: Won’t I just be swapping one repayment for another?

  A: The key is finding a debt solution which enables you to reduce your monthly repayments to a level you can afford. But you should also try to avoid extending the term of your repayments to a longer period than is necessary or fair. We can ensure you are advised about the most effective debt solutions.

• Q: Isn’t it better if I try and pay off all my debts?

  A: This depends on how large your debts are and your individual circumstances. An IVA, for example, would clear your debts after five years, but you’ll need to ask us first as to whether it’s appropriate for you.

More debt FAQ's