Credit Card Debt Reduction
If you have high levels of unsecured debt then you may be thinking about credit card debt reduction services. There is no easy way for this to be done and the solution which is right for your credit card debt reduction is dependant on your credit card debt level and your personal circumstances.
Credit Card Debt Reduction involves paying off the balance outstanding on your credit card debt. But this debt reduction service could also include other unsecured debt, such as unsecured loans, overdrafts or store card debt.
There are a number of ways to reduce the amount you pay to your credit card debt, and One Advice are here to help. As one of the most experienced debt solution companies in the country, we can help you to find a debt solution which is right for your circumstances and can help with your credit card debt.
Reduction of your monthly credit card payments can happen in a number of ways. If you can no longer afford to make the payments to your debt, this is where One Advice can help. If you are struggling with credit card debt, reduction of your monthly payments could really benefit you. You might choose to do this with:
Debt Management Plan: An informal agreement between the debtor and their creditors. This allows the debtor to make reduced payments to cover their unsecured debts. If you find that you struggle keeping on top of numerous credit cards which are all due to be paid at different times of the month, a debt management plan offers you a further benefit; you only need to make one reduced payment to us and we will distribute this between your creditors.
IVA: Only suitable to those with more than £12,000 worth of debt, an IVA works in a similar way to a debt management plan as you only need to make one single payment. But it has great advantages for the debtor: debt free in 60 months, offers a bankruptcy alternative and no further interest or charges are added to your debt.
To find out more about how to reduce the monthly payments to your credit card debt or want further information about how to handle your finances, get in touch with the One Advice team of debt advisors on freephone 0800 048 1752.
