Welcome to Free Debt Advice UK (FDA-UK) We have all the information and free advice you need when it comes to Debt, Money and Finance in the UK. If you have worries about your finances please review the Debt sections of our website.
We have knowledge on all aspects of finace and will review all of your options. FDA-UK gives independent advice to let you make an informed decision on debt. When mounting debt starts to become overwhelming, don’t just ignore it and hope it cures itself.
The UK is in bad financial health at the minute with Personal unsecured debt currently standing at nearly 250 billion pounds. If we include other secured lending and mortgages, this figure grows to over £1.4 trillion. Unsecured debt can include things such as personal loans, credit cards, overdrafts and store cards. Secured debts on the other hand are debts that use an asset as a form of security. Secured debts can include things such as your home or car.
Money problems usually begin when you are unable to keep up the the repayments of your borrowings. As soon as you start to fall behind on your repayments things can start to spiral and that’s the time to weight up your debt options and seek FREE advice.
An IVA is a formal agreement between yourself and your creditors that will allow you to make reduced payments towards your entire unsecured debt. Some of your debt will be written off and ,after 5 years, your debt will be settled. Please review our website for more information on Individual Voluntary Arrangements.
If you are in serious financial trouble in the UK you may want to consider filing for Bankruptcy. Anyone in the UK can apply for Bankruptcy. When you are made bankrupt, your assets are used to pay your borrowings. You financial affairs will be fully investigated and you will have to agree to certain restrictions. Bankruptcy will affect your ability to get credit and your bank will freeze all bank accounts and may not let you open new ones. Bankruptcy is the last resort solution and should only be considered in extreme circumstances.
Debt Management is an informal agreement between you and your creditors. The aim of Debt Management is to help clear your unaffordable debts at a reduced level over a set period of time.
If you are unable to pay all of your monthly repayments, but have a regular monthly income, then this may be an option.
Debt Management involves a non-legal agreement which means the creditors may decide to change the terms of the agreement or opt out all together. For more information on Debt Management, check out all the articles on this site.
We also offer free advice and information on other government backed schemes such at Debt Relief Orders, Trust deeds and other schemes that can help you with your money problems.
As well as information about debt, we offer Money Saving Tips, Car Insurance Advice, Mortgage News and Information and much more. Please browse our navigation menu to the right for all of the latest articles and news. When it comes to Money and Finance, we have it all covered.