Step Change is a UK based debt management company that helps you in paying off your outstanding by creating a robust strategy. With having more than 25 years of experience and serving around 6,50,000 people a year, we have created a footmark in this industry.
If you are in debt, not able to pay the outstanding of your loans, overdraft, credit card or mortgage, Step Change is there to reduce your hassles by dealing with your debt in a manageable way. Hence, if you are experiencing any kind of debt and expect that the debt is about to shift to a debt collector, contact Step Change without any delay.
We are having free online debt advice tools from which you can easily get free and impartial debt help. Moreover, stepchange will deal with any kind of debt-related issue for them who want someone to deal with the creditors on their behalf.
Role of Step Change in Managing your Debt
In Step Change, you will be able to access free debt management services from the experts online as well as over the phone. Don’t worry as we only recommend the best debt solutions irrespective of what situation you are going through.
Step Change debt management service deals with each type of debt consolidation and supports people as long as they want. Apart from that, you will get the advantage of campaigning on behalf of your side to reduce the risk of problem debt. All the information, you will share with us will be completely in a safe hand.
Moreover, all the advice will be completely confidential and specifically prepared for you. Considering your budget, we will provide you the best solution. The whole process will be completely transparent and you will get to know where would you invest your money.
How does the Step Change work towards your Debt Solutions?
With having highly experienced professionals in debt management, Step Change has made it so convenient for the people to avail of its services. It’s worth consulting with a reliable debt management company for easy access than to deal with the debt alone.
Here, in this section, you will get to know how easy it is to have a debt management plan that will eventually lead to paying back your outstanding simply.
Preparing Financial Information
The first step is to gather detail information on all your financial factors. This includes your income, how many debts are you owing, your living costs, etc. The motive behind this is to gain a vivid knowledge of your overall financial condition so that we can select the best option for you.
Providing Debt Solutions
Based on the information you will share with us, we will offer you advice that suits you best. Everything will be done keeping your financial condition and location in our consideration. Step Change is equipped with debt solutions which include Debt Management Plans(DMP), Individual Voluntary Arrangements (IVA), Debt relief Order(DRO), Bankruptcy.
If you are living in Scotland, you will also be having the facility to avail Trust Deed and Debt Payment Plan via the Debt Arrangement Scheme(DAS).
Choosing the Best Solution
Consulting with the creditors and considering your financial situation, we offer you the best insolvency solution. In addition, we also inform you about other debt solutions.
If you are able to pay the full amount over an agreeable interval of time, we will recommend the best-suited bankruptcy repayment solution. This will further impact on your chance of getting future credit or loan.
Getting Action Plan
After choosing the right debt solution, you will be provided an action plan that is personalized only for you. The plan will deal with the activities that you need to follow in order to tackle all the upcoming situation.
Don’t worry as the plan will be made up only for you. The whole process will be absolutely comfortable in getting things set up. Use our online tools that are able to render you the same expert level advice that you get from our telephone service.
Everything You Need to Know About Debt
Before availing a debt solution, you need to know more about types of debt and their priority. If you are not aware of which debt should be treated with more importance, you could eventually lose your home or car. Besides that, there are certain other aspects that you should also know in order to get effective debt help.
Types of Debt
Read this section carefully to have a brief knowledge about how many types of debt could be there. Based on the location in the UK, the priority is different for each one. You must take this thing into consideration in order to prevent losing your property.
The debts according to their priority could be of many types such as business debts, consumer credit, contract debt, court debts, and fines, debts to other people, Government debts, housing debts, joint debts, payday loan debt, student loan debt, utility bill debt, etc.
It is recommended you to take proper measurements to pay your outstanding within the due date. Otherwise, you will end up losing all your money. In the further sections, you will be familiar with some other facets related to debt.
How to Deal with Bailiffs
The enforce agents in England and Wales are known as bailiffs. A bailiff visits you means the situation can not be ignored anyhow. It is recommended to not to let them contact you in your home, instead, contact them through the letterbox or some other ways. Always, try to validate their identity before having any conversation.
A letter from the bailiffs indicates that it’s a call for you to contact a debt management company. You will get free and impartial debt help from Step Change and we will build a budgeted action plan for you. Within 20 minutes, your action plan will be prepared by our Debt Remedy advice tool.
Country Court Judgement(CCJ)
Country Court Judgement is a process of collecting your debt by the creditors. The creditors adopt the facility of CCJ sending you a court order from the respective court of your location. In that case, you have to pay the due debt within a stipulated time frame. If you fail to do so, further enforcement action could be taken against you.
In order to prevent the situation from happening, you have to take action before the time comes. Don’t panic! We have the solution for that. You will get a letter of claim 30 days before they proceed to the court. So, you will get 30 days’ time to deal with the situation before it will become worst. You can ask the creditor to settle a convincing deal and let them know that you are in a need of debt advice.
In the further section, we will discuss two of our major debt solutions to let you informed about the approach of our service.
Debt Management Solution
As mentioned in the earlier section, we will offer you solutions based on many factors inclusing your budget, location, and current financial condition. We are going to discuss two major debt solutions below.
Debt Management Plan(DMP)
Debt Management Plan is a debt solution that enables you to pay off your debts at an affordable rate. This debt solution is for less-priority debts like credit cards, personal loans, overdrafts, money borrowed from someone, etc.
When you are going through some debt problems but be able to pay the debt within a few months, then the Debt Management Plan is used. It’s an agreement between you and the creditors that you would be able to make repayments in a few months. If you want the creditor to avoid the debt collection agency, you may contact Step Change.
Based on the budget and the amount you can pay on a monthly basis to the creditor, Step Change will prepare an action plan. So that you can pay your outstanding within less possible time.
We recommend people to take a fee-free debt management plan so that no amount goes in the service charge. This will eventually take less time to pay off. But choosing the right DMP provider is vital and for that, you need to consider some things.
Check whether the DMP provider is authorized by the FCA and you can do it online. Look if the DMP is actually giving you the genuine solution that suits your needs. In that case, you have to read their terms and conditions carefully whether there is any hidden fee they are levying.
We deal with numerous number of customers daily and satisfying by allowing them to access alternative solutions. If you select any debt solution from us, we will be there in each step of the whole process until the completion of your debt.
We hope we are able to give compact information about the debt management plan (DMP) in this section.
Individual Voluntary Arrangement (IVA)
You may be curious about individual voluntary arrangement (IVA) as this is the most sought after debt solution these days. Last year, Step Change make it possible its 98% IVA proposals accepted by the creditors.
Individual Voluntary Arrangement is a debt solution to pay off your debt over a period of time. IVA makes it easy to pay off the debt in a flexible way but it could be risky in some cases.
You can pay your debt on a monthly basis usually over five or six years. There will be a fee in IVA while it is in progress and the amount is included in the monthly repayments. After you pay off the whole debt, any remaining unsecured debt will be written off.
In spite of all these, there are some drawbacks to Individual Voluntary Arrangements (IVA). By availing an IVA, your credit rating gets highly affected. Sometimes, IVA leads to the repay higher interest rate and if you ever fail to repay, the creditor may ask the supervisor for your bankruptcy.
Your creditors may not grant IVA. But, if you take assist from reliable and expert IVA professionals, you can easily avail the same. Step Change is having an award-winning IVA team that help plenty of people by fulfilling their every need in IVA. Contact the specialized team of Step Change to know in details about individual voluntary arrangement(IVA).
Crucial Advice to Deal with your Debt Problems
If you are going through a debt problem and you know that you may be contacted by the creditor anytime, it’s time to take debt help from the professionals. By doing so, you will get to know what would be the creditors’ next step to collect your money.
In such a situation, what would you do? Step Change is the key to let you know each and every detail. In the below FAQ section, we have tried to make you aware of the basic things that you must know if you are in a debt.
What is the law on debt collection?
Every debt collection agency has to follow the rules of the Fair Debt Collection Practices Act (FDCPA). According to their rules they can not make any violence or take any unfair measures or use any abusive language.
What debts to pay first?
There are several debts but according to their importance, they should be treated. You must pay the debt which comes top in the debt priority list. In the above article, we have discussed about which one should be taken in the first place.
Can I write off debt?
In some cases, it is seen that the creditor grants write off of a part of the debt amount and it normally happens if the amount is lumpsum. Creditors rather want to collect as much money from the debt as possible than to lose the whole amount.
Consult with Step Change to Grab the best Debt Solution
In the above article, we have discussed the most vital aspects of debt management. Moreover, we make you familiar with the working procedure to deal with your critical debt situation. We have tools that will perform a 60-seconds debt test and find out if you need any debt advice.
Grab the best debt management services from the best professionals in the UK. You can call us anytime at Stepchange Contact Number 0800 046 5868 for further discussion. We will take a while until we get in-depth about your problem. Follow our websites for regular updates and the latest news.