You may have heard the term ‘debt advice’ numerous times, but what does it actually mean? What does it entail? How do you get it? These are all very valid questions, and here at Angel Advance, we want to equip you with the correct information, and offer you help when you are struggling with debt.
With the Cost Of Living crisis affecting thousands of people in the UK, more and more households are turning to our services for help. To understand what debt advice is, carry on reading!
What is debt advice?
Debt advice is the process of receiving advice from expert debt advisors, in which they will help you to understand your options going forward and suggest possible solutions to help you to begin repaying debts.
Debt advisors such as ourselves are here to provide you with the vital information you need to pay off your debts in a way that is manageable for you and your lifestyle. Sometimes, it may be as simple as advice on how to budget successfully, or areas where you can reduce your spending. Other times, it can be recommending the best debt solution. Regardless of your financial situation, our debt advisors are always non-judgemental, understanding and prepared to help you deal with your debt.
How do I get debt advice?
At Angel Advance, debt advice is completely free. We provide various platforms where you can contact our expert debt advisors whether it be by phone call, text, web chat or email, and we also have a handy free online tool. Our tool allows you to input information about your current financial situation, and it will ask other necessary questions to help get a good idea of what type of advice is right for you.
What are the benefits of debt advice?
There are several benefits to getting debt advice, both financially and mentally. As we know, dealing with debt is a stressful experience – especially if you don’t know what to do to solve it. Taking the first step and getting free expert advice will help you understand which options are available to you, setting you on the right path. This may also be the first time you are speaking to somebody about your debts, which in itself can make you feel like a weight has already been lifted from your shoulders. As debt can be isolating, this can have an especially beneficial impact on your mental wellbeing, knowing that you are one step closer to dealing with your debt successfully.
Debt advice is also a helpful tool in allowing for better financial planning and practices, and enables you to feel more confident when it comes to your finances. Similarly, this sets you up for a more financially resilient future.
Who is debt advice for?
No matter who you are, what your financial background is, your age and so many more factors, anybody can experience debt. We wrote about this recently in a blog for Debt Awareness Week. We understand that some people may feel ashamed or embarrassed by their debts, but dealing with debt alone can be intimidating, stressful and difficult. Our free advice is available to everybody who feels they need guidance when it comes to their debts and finances.
Will getting debt advice affect my credit score?
While some debt solutions will have an effect on your credit score, the process of getting debt advice does not have an impact. This means you do not have to worry about your credit history or credit score whilst you are speaking to our advisors or using our free debt advice tool.
What do I need to do to prepare?
Of course, we need to know a few details about your financial situation in order to offer you helpful and relevant advice. In preparation for getting debt advice, we recommend that you have the following information ready before you contact us or use our tool:
- Your monthly income, including wages, benefits, tax credits, pension payments and any other income. You can see which benefits you are eligible for here through our free benefits calculator.
- Your living expenses, including rent or mortgage payments, monthly bills, food shopping and any other regular costs.
- How much money you owe and who you owe the money to, including interest rates which may have been applied, as well as any other fees or charges.
Are you in need of free advice?
Since you’re already here, you’re probably wondering if you need free debt advice. To date, we have helped over 33,000 people with their debts, and you could be next! Our services are always available to help you in your journey to repay your debts, whether that be through our free online debt advice tool, or you’d like to speak to one of our friendly and knowledgeable debt advisors.
Debt Advice: FAQs
If money worries or debt are impacting your day-to-day life, you’re not alone. Many people seek debt advice when they notice one or more of the following signs:
- You’re using credit cards or Buy Now Pay Later (BNPL) services to pay for essential costs, e.g. your weekly food shop, monthly utility bills, etc.
- You’re taking out payday loans or cash advances to repay your debts.
- You’re only able to make the minimum payments towards your debts (this can keep you in debt for years and leave you facing high amounts of interest).
- You’re worried about how you’re going to pay your bills or cover other everyday essentials.
- You’re getting regular calls or letters from your creditors (the companies you owe money to) who are considering taking further action to get your repayments from you.
- You’ve lost track of how much you owe or who you owe it to.
- You can’t afford to put savings aside or create an emergency fund for unexpected expenses.
Angel Advance’s free, online debt advice tool can help you start to get your finances back on track in less than 15 minutes. Try our tool today to view a monthly budget created just for you, advice specific to your situation, and the debt solutions available to you – on-screen, straightaway.
