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News and tips on tackling debt, living on a debt plan and other debt matters

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How will starting a debt solution impact your credit score?

Posted 05 March 2018 by Christine Walsh

Starting a debt solution might be the right way for you to take control of your debts, but the knock-on effect could be a badly damaged credit score, right? Come to think of it, if you go on a debt solution, could it stop you from ever borrowing again?

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Have you ever felt forced to go on a stag/hen do you couldn’t afford?

Posted 02 June 2014 by Shelley Bowers

As many stag and hen events become increasingly expensive, 15% of people say they have felt obliged to go on one they knew they couldn’t really afford.

Have debt worries forced you to sacrifice too much?

Posted 04 February 2014 by Shelley Bowers

Tight finances are forcing many Brits to make sacrifices … and debts could make this problem even worse.

Step-by-Step timeline of an Individual Voluntary Arrangement (IVA)

Posted 27 August 2013 by Emily Bancroft

We've put together this IVA timeline to show how a typical IVA works. If you're thinking of entering an IVA, our experts can help you get started.

I've been made redundant while on debt management. What happens now?

Posted 16 August 2013 by Christine Walsh

Debt management plans are flexible, which means that if you have a sudden change in financial situation (for example if you are made redundant), we may be able to change the terms of your debt management plan while you get back on your feet.

Will a Debt Relief Order (DRO) damage my credit rating?

Posted 17 July 2013 by Emily Bancroft

If you're eligible for a Debt Relief Order (DRO) it could write off your unaffordable debts after one year. However, it will also damage your credit rating.

How long does a Debt Relief Order last?

Posted 16 July 2013 by Sarah Symons

A Debt Relief Order usually lasts one year, after which your unaffordable unsecured debts will be written off. However, it could last longer if your circumstances change.

To find out more about managing your money and getting free debt advice, visit Money Advice Service, an independent service set up to help people manage their money.