Debt Advice Edinburgh
Based in Edinburgh, Debt Free Life is an insolvency practitioner run by Alan and Lindsay Harty. Since 2015 we have helped over six thousand Britons every year to get rid of their debt entirely.
We do not think the vast majority of companies in the industry treat their clients with any respect and often prioritise profit and numbers. Our goal is to revolutionise how this kind of business works by focusing on ethics and compassion.
Dealing with unmanageable debt can be incredibly stressful, and it can often feel like there is nowhere to turn. With over 25 advisers waiting to support you, we will do everything we can to make sure that the whole process of fixing your finances will be as fluid as possible.
Debt Free Life Edinburgh – What We Do
We specialise in using fully-legislated debt management processes to put an end to creditor harassment while making it possible for you to eliminate up to 80% of your unsecured debt.
Through the use of formal processes like Trust Deeds and IVAs, or Sequestration and Bankruptcy, we help hundreds of people around Edinburgh to beat their creditors year after year by wiping out their debt altogether.
These formal processes mean that your multiple debts to separate creditors and lenders can be converted into one, massively reduced, monthly repayment. You will not have to decide which bills to pay and which to ignore as we will do the hard work and distribute the sum appropriately.
We will also offer a plan that has been created with your specific circumstances in mind: this is the only way of making sure the solution will work, and we have over 25 specialists who will make it happen while taking care of all the complex paperwork for you.
Making a full recovery from unmanageable debt will never be totally effortless, and we will require some commitment from you in making sure all of your reduced repayments are fulfilled, but we aim to ensure that this is essentially all you have to do. We just need some basic information so that we can get started.
When we have taken care of all the paperwork and have dealt with the creditors, and you have delivered every agreed payment, you will end up totally free of debt.
Trust Deed Scotland – The most common debt solution for people in Edinburgh, and in Scotland generally, is a Protected Trust Deed. This will make it illegal for any of your creditors to contact you, will freeze your current balance, and can enable you to completely write off a significant portion of your debt.
If you are facing unsecured debt in excess of £5000 to numerous creditors and live in Scotland, then you are most likely eligible to apply. We only need some simple details about your finances, and we can start getting things underway and draft your new reduced payment.
If you want to protect your most valuable assets like your property or motor vehicle, then Trust Deeds can be an effective option. If you do not take definitive action to address your debt, then creditors may attempt to take you to court in order to reclaim the money they are owed. This can jeopardise your valuable assets. In the worst case, you will be forced to enter involuntary bankruptcy or sequestration which will give you zero power over the fate of your house.
Any legal action that lenders might take against you is made illegal when you enter into a Trust Deed. They will have no options left to get money from you and must simply accept whatever percentage of your monthly repayment they are allocated.
How much you will have to pay each month is determined by your specific financial situation. We are on your side and will draft a budget that will ensure you are not left in an unrealistic situation. Whatever the total, it will be significantly less than you are paying currently.
Additionally, the balance of all your ongoing debts must be frozen the moment your debt solution is established. This means your lenders cannot hit you with any more interest or other fees.
However, the fixed-term nature of Trust Deeds means that you will end up paying less than the total you owe anyway. Provided you deliver every agreed payment over the four-year period, any remaining debt at the end of the arrangement will be written off. Your creditors cannot ask you to pay any more money from this point.
This method of addressing your financial situation is almost always the best option provided you qualify. Any costs that apply to our services will be taken from the money you owe to creditors, not from your pocket.
If you think you might meet the criteria, we would encourage you to call us sooner rather than later so that we can put your Protected Trust Deed in place quickly and put a stop to creditor harassment.
Independent Voluntary Agreements –For Britons living outside of Scotland who are dealing with debt to numerous creditors which amounts to over £10,000, an Independent Voluntary Agreement (IVA) can be an efficient method for you to make debt a thing of the past.
IVAs are similar to Trust Deeds in a few ways. For example, no costs apply for putting the arrangement in place – although you will need to offer a monthly contribution which satisfies creditors. However, the process is similarly fixed-term (typically taking place over five or six years) which provides a fantastic opportunity to eliminate vast amounts of the balance you owe.
We can also protect you from incessant creditor harassment. As soon as the deal is accepted by your creditors, they can no longer legally attempt to make contact with you. Instead, they have to get in touch with us, who will relay any important information to you. Any court action against you and your family is also out of the question.
For more information on IVAs, or to check if you qualify, contact us today. We are more than happy to answer any of your questions.
Sequestration and Bankruptcy – These terms are often considered to be a sign of doom, yet for many people, they can be a fantastic way of hitting the financial reset button. Whether you want to enter sequestration in Scotland or declare bankruptcy elsewhere in the UK, our financial advisers are ready to help you negotiate the whole ordeal as painlessly as possible.
Although a lot of people who we suggest this option to are initially sceptical, their minds are often changed as they begin to enjoy the results. Creditors will stop ringing you and send constant letters, and you can wipe out up to 100% of your outstanding debt. You should also remember that choosing
to declare bankruptcy voluntarily leaves you in a much better position than being forced into it by malicious creditors.
Our team is ready to shed more light on each solution. We specialise in explaining fairly complex financial processes in an easily-understandable manner. We can also work out whether you are even eligible, or whether there is a viable alternative before you make any decisions.
Why Choose Us
We deal with thousands of people every day who have fallen victim to unmanageable debt. We have found that the only way to help properly is to provide a service that strikes a fine balance between efficiency and compassion. There is no getting around the fact that we have to address financial issues quickly to relieve stress for our clients, but there is no reason this cannot be done without sympathy and understanding.
From the moment you get in touch with our hard-working and knowledgeable team, we will begin taking your details and working on a plan to get your financial situation back on track. None of our staff will judge you or any problems you are facing; remember, having money trouble is not uncommon, and we deal with hundreds of people every day who are facing exactly the same problems.
Our consultants will build a plan that is specific to your exact needs; other more blunt force methods just do not work. At no point during our discussions will we pressure you or even force you to take things any further. You are in charge, and always retain the option of telling us that you no longer require our service and no charges will apply.
We listen. We advise. You decide.
Get in Touch Today
Addressing debt is not easy, but it will only get more difficult the longer you leave it. Call us for a chat on 0800 808 5124; let’s beat your creditors together.
You can also take a minute to complete our debt calculator. This will allow us to become familiar with your situation and one of our advisers will be in touch as soon as they can be.
Whatever solution you opt to go for, and however long it takes to complete, you can be sure that you will have our full support every single step of the way. We will always only be a phone call away.