YOURDEBTLINE
Suite 1 First Floor, 73-75 Aston Road North | Aston Cross | Birmingham | B6 4DA
Suite 1 First Floor, 73-75 Aston Road North | Aston Cross | Birmingham | B6 4DA
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Some of our services are handled by us and some services are provided by another provider.
| In- House Service | Other Provider |
| Debt Advice | |
| Budgeting | |
| Analysing your situation | |
| Explain the UK debt solutions | |
| Help you choose the right solution | |
| Debt Management Plan (DMP) | |
| Individual Voluntary Arrangement (IVA) | |
| Assistance with the forms | Debt Relief Order (DRO) |
| Assistance with the forms | Bankruptcy |
| Assistance with the forms | Debt Administration Order (DAO) |
| Debt Respite Scheme | |
| Debt Settlement Full or Partial Settlement | |
| No advice given | Trust Deeds – Scottish resident |
| No advice given | Debt Arrangement Scheme (DAS) |
| No advice given | Sequestration |
Some solutions are very flexible and some are not as flexible. If your situation is likely to change in the near future, then you may prefer a plan that gives you some flexibility.
Some solutions are formal, that means that your creditors are bound by the terms of the plan. It can mean that your creditors must freeze the debt and no longer add any charges or interest to the debt. They also run for a fixed period, this means you know how long your plan will take to get you debt free.
Some solutions will give “debt write off” and some you must pay the debt in full.
The formal solutions are:
| Solution | Formal | Disadvantages | Advantages |
| Bankruptcy | √ | Credit report impact, can make payments for up to 3 years. No credit allowed. Assets may be sold. Overtime and windfalls must be declared. | Debt written off at the end of your plan, usually lasts 12 months. |
| Individual Voluntary Arrangement | √ | Credit report impact, can make payments for up to 5-6 years. No credit allowed. Homeowners may have to re-mortgage | Debt written off at the end of the plan. Annual reviews to revise your budget. May be able to keep a portion of overtime. |
| Debt Relief Order | √ | Credit report impact. No credit allowed. Assets may be sold. Strict criteria on disposable income and asset values. | Make payments for one year. Debt write off at the end of the plan. |
Please be advised that we only provide our services to the clients in England and Wales, however, please see below the links of the solutions available in Scotland.
Your Debt Line is a trading name of BCK (Birmingham) LTD. BCK (Birmingham) LTD is a company, registered in England and Wales. CO. HSE. 08263295. Registered office: Suite 1, First Floor, 73-75 Aston Road North, Aston Cross, Birmingham, B6 4DA. Data Protection Registration ZA112125. BCK (Birmingham) Limited is authorised and regulated by the Financial Conduct Authority for debt advice purposes. Our Firm Reference Number is 696156.
Alternative free-to-consumer debt services are available from the Money Helper, Step Change Debt Charity and Citizen Advice websites.