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Tackling your debts

The first step to getting debt-free

Posted 20 April 2016

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Understand your next steps

Completing our Money Smart Report is the first step you need to take to start tackling your problem debts - the first step to getting debt-free.

At Debt Advisory Centre, we want to make the process of tackling your debts as straightforward and stress-free as it possibly can be, which is why we created the Money Smart Report (MSR). 

When you’ve got problem debt, getting back in control of your finances can seem like an uphill battle. Getting an MSR is the first step you need to take to get back on top of your debts. So, let’s have a look at what the MSR can do for you and why you should use it. 

What is it?

The MSR is an easy way to see your financial situation at a glance, and it only takes a few minutes to complete. You answer a few questions about your finances and we create a personalised report that gives you a very clear picture of where you stand with your money and, most importantly, what you can do to solve any debt problems. 

We’ll keep your report for 30 days, so you can go away and come back to it as many times as you like within that time. 

Who is it for?

The Money Smart Report is for anybody who wants to check how healthy their financial situation is, needs help with putting a budget together, or knows that they have a debt problem and wants to know how to tackle it. 

What will it tell me?

The MS Report will give you all the key information you need to take the next step towards getting debt-free, including:

• how much you spend versus how much you bring in each month

• where your money goes each month 

• how much of every £10 you earn goes on debt

• whether your debts have become a problem

• a list of the possible debt solutions that might be available and links to learn more about them

• helpful hints and tips for getting in control of your finances and debt-free.

What questions will you be asked?

We’ll only ask the questions we need to ask to help us piece together an accurate picture of your financial situation. 

For example, we’ll need to know where abouts in the UK you live, as this affects what solutions you will be able to look into. We’ll also want to know whether your creditors have started taking any legal action against you, how many creditors you have and how much you owe in total. 

To get an accurate picture of your finances we’ll also need estimates of how much you earn and what you spend on other essential expenses like food, rent/mortgage and travel. 

What do I do next?

If you’ve already got your Money Smart Report, that’s a great start – but what’s next? Well, if you’ve learned from your report that you do need help with managing your debts, the most important thing to do is get expert advice. If we think we can help you, we’ll get in touch to chat through your options. 

It’s very important to get expert advice before you go ahead with any kind of debt solution and our advisors have years of experience guiding people to the right one. They can look at all the details and tell you which solutions you qualify for and which one might help you the most. Make sure you reach out to us for help. 

Get your MS Report today

We know from experience that problem debt can be an overwhelming, confusing and stressful thing to deal with day-to-day. But it doesn’t have to be - and you certainly don’t have to deal with it alone – as we’re here to help. Why not take a few minutes today and take the first step towards becoming debt-free? If you click below, you’ll go straight to the Money Smart Report. 

find my solution

 

As well as ourselves you are able to get help from a range of different debt charities and there’s free and impartial money advice available from the Money Advice Service. 

 



If you’d rather speak to us straightaway, that’s no problem – just use one of the options on the left. 

 

by Christine Walsh

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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.