Free, confidential debt advice from a UK charity
Debt Advice Foundation is a registered national debt advice and education charity offering free, confidential support and advice to anyone worried about loans, credit and debt.
Because we’re a debt charity, you can be sure that the advice we provide is impartial and based solely on what is best for you.
If you need to talk to someone in confidence about your options, there’s no need to wait or book an appointment, our free debt advice helpline is open Monday to Friday 8am to 6pm on 0800 043 40 50.
We help over 10,000 people every year
Our advice is 100% free and impartial
£17,000 is our average caller debt
How we help
If you have a debt problem, Debt Advice Foundation can help you understand which options are available to you and will recommend the debt solution that is right for your situation. Our aim is to help you regain control of your finances by:
- Reducing monthly payments to a realistic and affordable level.
- Stopping creditors taking enforcement action against you.
- Protecting important assets such as your home.
If you are struggling to keep up with credit card, loan or debt consolidation repayments, have arrears or are facing legal action from lenders as a result of being unable to repay your unsecured or secured debts, our debt helpline advisors are standing by waiting to help.
You can read more about how we’ve been able to help some of our clients in our feedback area.
We advise on the full range of debt solutions, including:
All of your qualifying debts are written off and after 12 months (typically), you will be discharged. The court can enforce an ‘Income Payments Order’ for a further three years and your home is at risk. A fee may be payable.
Debt Relief Order (DRO)
All of your qualifying debts are written off after 12 months. Debts must not exceed £30,000, assets must not exceed £2,000 and you must have a monthly disposable income of less than £75. A DRO costs £90 to set up.
Individual Voluntary Arrangement (IVA)
Typically, 50% to 60% of debt is written off, interest is frozen and you are protected from creditor enforcement action in an IVA. It lasts for 5 years and fees are payable. You will have to keep to a fixed monthly budget or your IVA could fail.
Debt Management Plan (DMP)
You will make a single, affordable monthly payment for as long as it takes to repay your debt in full. It is not legally binding and some creditors may not agree to freeze interest. Some companies charge a monthly fee for this service.
DebtAware is the name of our financial education and information work.
We believe that many people find themselves in serious debt because they have never been taught how to manage money.
We take financial education into the heart of primary schools, because young people should be given the chance to learn money skills at the earliest opportunity.
Find out more at www.debtaware.org