What is the best advice for my debt situation?
Clear Start has been working with various organisations both government-licensed and from the financial services sector to develop a model to understand and advise on the most appropriate solution for various circumstances. This is backed up by the experience of each advisor of having helped hundreds of individuals in varying circumstances.
The conversation will begin by establishing a few basic elements of information, such as the total amount of debt owed, and whether there are any funds available from a property for example. From this initial information it can be possible to rule out certain alternatives or identify what further information is required.
Once the options have been narrowed down, there follows a short fact-finding exercise during which the advisor will help the individual to list out a rudimentary budget:
- List of debts, amounts and to whom
- Details of any property, mortgage and further borrowing
- Monthly income, after tax
- Monthly expenditure, the basic costs of living
With this information it is possible to make a recommendation on what options are available, and the various pros and cons of each. This is also an opportunity to ask any questions about what is being recommended, how it works, and what other implications there are. There tend to be a number of alternatives including consolidation, debt management plans, Individual Voluntary Arrangements, and even Bankruptcy.
Should the individual want to, the Clear Start advisor can use the information collected to complete an application form for the appropriate solution, or pass on the details to an appropriate organisation as preferred.
To talk to an advisor about a debt situation call 0800 138 5445, or complete the enquiry form.
To contact an advisor call 0800 138 5445. Alternatively complete an online enquiry form and an advisor will call you back at the time that you specify.