About Us

“DFH Financial Solutions (a trading name of Bridgewater Support Solutions Ltd,company number 07556890) is part of a group of companies established in 2006 which specialise in consumer financial solutions and have extensive experience in the field of commercial debt management. Read more...

  

 

  

Clear Debt

When looking for long term solutions to clear debt it is essential that you are completely honest about your financial situation and not just get look for loans with bad credit, this will ensure that we can find the best possible solution to help you to take the necessary steps to clear your debt in the most efficient, affordable way.

Solutions to clear debt include the following;

Debt Consolidation Loan

A Debt consolidation loan would usually be taken over a longer period than most of your current debts so you could end up paying back more over a longer period, but less each month leaving you with more money each month. You will have one monthly payment instead of various monthly payments, making managing your finances a lot easier.

Debt Management Plan

This is a way of looking at debts you are struggling to repay. It takes the form of an agreement between you and your creditors, where any unsecured debt payments are potentially reduced to a more affordable level and interest can be frozen (this is never guaranteed, but we find in most cases we deal with we can come to an arrangement with your creditors) leaving you with a lower monthly payments.

The Debt Management Plan will last until you have paid off your debts or you are in a better position to repay your debts.

IVA

If you have unsecured debts and can no longer afford to make the repayments and cover your other living costs. an IVA could be the solution for you, depending on your circumstances.

If an IVA is selected as the preferred debt solution for you, we will work in conjunction with our selected Insolvency Practitioners at Debt Support Centre to create a formal agreement between you and your creditors (the companies you owe money to). We will only recommend an IVA to you if we consider this is the appropriate solution for you.

Debt Support Centre will arrange affordable monthly payments, usually over 5 years. After that time, any remaining unsecured debt is written off. Please note 75% (by debt value) of voting creditors must be in favour of the proposal for the IVA to go ahead.

Bankruptcy

Bankruptcy is the worst case scenario to clear debt. The aim of Bankruptcy is to share out your assets fairly among your creditors (companies you owe money to), so you are no longer pursued for payment. Anyone can go bankrupt, including individual members of a partnership.

An individual can be made bankrupt in one of three ways.

  • Voluntarily – You declare yourself bankrupt
  • Involuntarily – By the creditor you owe money to (£5,000 Minimum)
  • By the supervisor or anyone bound by an IVA

Further Debt Help and Advice

Subject to availability and acceptance. Debt write-off applies on the completion of and Individual Voluntary Arrangement. Alternative solutions may be offered. Repaying debt over a longer period of time may increase the total amount to be repaid. Whilst on an IVA and for a year after completion your credit rating will be affected.

Repaying your debt over a longer period of time may increase the amount you pay. Joining a debt management programme won’t always show up on your credit report, but it could still affect your ability to obtain credit – making a new repayment agreement with your creditors does mean you’re not following the original agreement.

Call us on 0800 881 8722

Monday to Thursday 8:30am - 8pm, Fridays 8:30am - 6pm and Saturdays 9am - 1pm

Request a callback

* First Name:

* Surname:

* Telephone no:

* Email:

* I agree to the Privacy Policy

* = required field

Latest Debt News & Debt Guides

  • 01/15/2016
    Taking part in dry January could save you money

      Thousands of UK citizens are taking part in dry January, opting to give up alcohol for the entire month, completing this challenge can help people to feel better, raise money for charity …

  • 01/6/2016
    Could you get a better deal switching your mortgage?

    If you are a UK homeowner, it is likely that you have had the same mortgage deal for a certain amount of time with one mortgage lender. Many just get on with repaying …

  • 11/9/2015
    Debt Problems and Depression

    Recent Newspaper reports have stated that the late Peaches Geldof was in £450,000 debt when she died. The 25 year old was found at her home in 2014 having taken an overdose of …