FAQ

What happens after I fill in the form?

When you fill in the application form it not only provides us with your contact details, but it also enables us to assess your financial situation at a glance. This is because you will include such details as:

  • The total of your debts
  • Your monthly income
  • Whether you are self-employed
  • How many creditors you owe money too
  • How much money you can afford to pay off your debt

Different credit arrangements have different rules and guidelines attached to them so by viewing your financial situation we will be able to see whether you are more suited to some repayment plans than others. For example, a Debt Management Plan is for debts totalling at least £5000 and owed to at least two creditors. Additionally, to qualify for a Debt Management Plan you should be able to pay at least £100 per month off your debts.

An IVA, on the other hand, refers to debts totalling over £15,000 and applies to people who can afford to pay at least £150 per month off their debts.

We will also take account of your own preferences so we will give you a call to discuss your requirements and obtain any additional information that we may need. We can then find the right repayment plan for you and take steps to set it up.

Give us 5 minutes and we'll give you:

  • Advice on all debt solutions that you may apply for
  • If your debt can be written off
  • Explain any interest or charges that can be frozen
  • Honest, no obligation advice

Some solutions, such as a Debt Management Plan or an Individual Voluntary Arrangement involve costs when the plan is set up.  These costs are there to cover the expenses and work undertaken on your behalf.  You will always be told clearly about any costs upfront.  Other solutions, such as a Bankruptcy incur costs which are payable to the Court; Debt Relief Orders incur costs which are payable to the Insolvency service.

Debt Direct is a trading name of Tatstar Limited. Tatstar holds a consumer credit license to offer debt counseling. Your enquiry will be passed to a selected third party who will contact you to discuss the most appropriate solution for your circumstances.