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Don't Let Debt Problems Get You Down
Debt problems effect people in many ways and the role of the Debt Advice Team is to ensure that you receive immediate debt help when you have reached the point were you are unable to meet your monthly credit payments and are worried. The Debt Advice Team have been helping people with debt problems for 8 years and we are an established and highly respected organisation. View information about our organisation and the free and ow cost services that we offer by clicking here - Online Video Information Clips.
Debt Advice Video Clips
Whether you prefer a confidential telephone conversation or would like a home visit by one of our local representatives we are here and happy to provide you with all of the help and support that you need.
Professional Debt Management and Token Payment Plans
We are the Debt Advice Team and we help thousands of people in Ireland that have experienced money worries or debt problems. The people that the Debt Advice Team assist range from construction workers and IT professionals to single mums, solicitors, mortgage brokers, civil servants and the increasing number of people facing redundancy as the economy takes a downturn. Debt problems can affect anyone at some point in their life. Debt does not discriminate.
We are very well respected in our field and we have extensive experience of assisting people with real debt help and solutions to debt problems in Ireland and our team are a friendly and approachable bunch. We provide a confidential, professional and effective service to the many thousands of people in Ireland that need debt help and intervention at a time in this economic climate when personal stress levels can be very high.
- The Debt Repayment Plan - Click Here
- The Token Payment Plan - Click Here
- Full & Final Settlement Negotiation - Click Here
- Bankruptcy in Ireland - Click Here
Often we are thanked by our clients for the benefits that our early intervention has brought about because they have become closer to their partners as a result of sharing their financial worries and pulling together to solve a debt problem with our support. In fact, the Debt Advice Team regularly receive 'thank you' letters from the many people in Ireland that we help.
Members of the Debt Advice Team are regularly called upon by the Irish Media to provide expert help and assistance to national newspapers when they have run news articles on how to deal with and get out of debt in Ireland.
The Debt Advice Team prides itself on how we always treat people that turn to us for debt help and advice with the utmost respect and confidence. As some members of the team have, in the past, themselves suffered from the stress that money worries can bring about we understand first hand the emotional strains that debt problems can bring about.
The good news is that debt problems can be resolved with help and intervention and contacting the Debt Advice Team is often the first solid step towards solving your debt problem and stepping forward towards a healthier financial future.
To speak with a member of the Debt Advice Team please feel free to call our advice line on 01657 5602 now or alternatively chat online using our secure, online chat facility by clicking the 'Live Help' button at the top right of this page. You can of course simply fill out a quick contact form by clicking here and tell us about your debt problem and a member of the Debt Advice Team will contact you at a time that you request.
If you have visited this site and are unsure about your situation then please do make contact with us in which ever way you feel most comfortable with as we will be happy to give you good honest advice about your options and as such you will be better informed about what course of action you would like to take next.
Debt Consolidation Loans
The first reaction by many people when they realise they have a debt problem is to consider debt consolidation via a larger loan to be the answer. This is often a very dangerous strategy as debt consolidation loans whilst, on the face of things, may appear attractive they often serve to simply make a debt problem worse as debt consolidation loans effectively will increase the overal level of debt that is outstanding.
Debt Consolidation Loans - The Dangers
Debt consolidation loans are heavily advertised in the media by loan companies. Often debt consolidation loan companies will advertise the fact the people with a poor credit history can still apply for their debt consolidation loan stating that even if that person has court judgemnts they may still qualify for the loan, Such companies may typically charge a higher interest rate when arranging debt consolidation loans particularly if the individual applying for the loan has a bad credit history or other debt repayment discrepancies against their name.
It is always important to understand what interest rates are being charged by the loan provider and to have a clear knowledge as to just how much the total amount of the debt consolidation loan will be if you decide to apply for a loan to consolidate your debts.
The Debt Advice Team are contacted regularly by people in Ireland that have opted to take out a debt consolidation loan only to realise that the loan has not solved their debt problems and are now in a situation were they can't afford to pay the debt consolidation loan at the agreed rate and now owe more money than before they took out the loan. This is a very common mistake that many people with good intentions unwittingly make.
Are Debt Consolidation Loans Ever A Good Idea ?
Although the Debt Advice Team generally do not recommend debt consolidation loans as a positive debt solution as generaly speaking a person can not 'borrow themselves out of debt', sometimes debt consolidation loans can be used as a effective tool as part of a wider debt management strategy.
Debt consolidation loans can sometimes be used effectively to pay of more expensive forms of credit, such as credit cards, or store cards, providing the APR of the debt consolidation loan is significantly lower than the credit facilities a person is looking to pay off. It is worth remembering though that although the debt consolidation loan may be used to pay off credit card debts for example the actual outstanding amount of the debt consolidation loan is stil likely to be higher then the total amount outstanding on the credit cards at that point in time when the loan was taken out.
The benefit of using a debt consolidation loan in this scenario is likely to be the individuals ability to reduce monthly debt servicing costs and free up some spare cash each month that could be used to pay manage other bills or debts that the person may have. Again, this will only be the case if the debt consolidation loan repayments are significantly lower than the debt servicing payments beforehand. The key point here is to look at the numbers involved very carefully before committing to taking out a debt consolidation loan.
Debt Consolidation Loans and the Credit Crunch
Recently, many people have found that they have been refused a debt consolidation loan by the loan provider when they have applied. The impact of the global credit crunch has played a large part in the fact that many people are being refused loans in Ireland and in other countries.
This is because the credit crunch has served to make lenders much more cautious as to who they wil provide loans to and also how much money the are willing to lend. This has resulted in lots of people having to consider other debt management options such as the Debt Repayment Plan service operated by The Debt Advice Team in Ireland.
Speak To The Debt Advice Team
If you are considering applying for a debt consolidation loan in an effort to assist with any credit or debt issues then please feel free to chat with a member of the Debt Advice Team.
Tell us about your circumstances and we will be able to assist you in understanding what options are available to you in order to get on top of a debt related problem. Please cal us free of charge on the number below:
Debt Advice Team Free Phone Number: 01657 5602
Alternatively, you can start a secure online chat by clicking on the 'Live Help' button on the top right of this page. or simply complete our quick contact form by clicking here and one of our advisors will contact you at the time and method that you specify.
Popular Articles, News and Consumer Information
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The Role of The Account Manager in the Debt Advice Team in Ireland
Basically, the debt repayment plan procedure has been designed to assist the person with debt problems of the requirement to negotiate directly with their creditors, it is the job of the debt counsellor in the debt advice team to act as the mediator between our clients and their creditors. We receive an arranged monthly payment from our client then make agreed pro rata payments with their lenders and creditors.
Account Managers with the Debt Advice Team spend large parts of their time negotiating payment offers, on behalf of our clients, with their creditors. Mostly, creditors are understanding and sympathetic and they can accept an offer if we can show that it is realistic and is supported by a detailed analysis of our clients budget and take into account all other unsecured debts.
Creditors do have set policies and procedures on the minimum level of repayment they can accept but they will always give consideration to the requests we make and if at all possible we work together to get an arrangement in place.
Once the arrangement is in place then the onus switches to our client to keep up with these payment arrangements and make the agreed payment on time. Creditors set up a monitoring system to check that the payments are received on a regular monthly basis and as long as they get the payments everything is fine.
However if the individual does not make the agreed payment then we cannot send it on to the creditor. These situations are rare but we have seen a couple of instances where a client has unfortunately let all the work undertaken on their behalf amount to nothing because they do not stick to the plan for no sensible reason. The result is often that the persons money problems get worse and their creditors become less willing to negotiate new repayment terms.