How to clear your debt
If you’re struggling with debt or can’t afford to pay your creditors every month, it is time to seek professional debt help.
We recommend seeking help from professional debt experts that are regulated by the FCA and will work on your case for the duration of your plan. FCA regulated companies protect consumers. Some companies offering help may know the basics of the plans and will gather the initial information, however, may not be qualified in debt advice and can pass on your information, details and case to their preferred supplier.
Our experienced team at Don’t Fret About Debt are regulated by the FCA and are debt experts who have helped thousands of clients across Scotland pay off their debts.
On our website we have a debt calculator that can help you work out the affordable monthly payments you could be made to clear your debt and these details will be emailed directly to you. Knowing your debt amount will help calculate what you could pay back every month. To understand your debt amount, follow the steps below:
- Make a list of all your unsecured debts and obtain accurate balances and account numbers.
- Using your bank statements, write down all your monthly income including salary, any benefits and other payments you receive.
- Go through your direct debits and note your mortgage or rent, Council Tax, utility bills, insurances, car payments or travel costs.
- Consider how much you spend on food, clothing, regular hobbies and social spend. It is still important to note these costs – we will never recommend a payment programme that means those spends are removed as you need to have a life. There are Government guidelines we follow for any non-essential expenditure so we can change this for you if you have budgeted too little or too much. You will need to stick to the budget agreed for the duration of your plan, so be realistic about how much you need.
If you’ve used our debt calculator, we will give you a call to run through your income and outgoings and then discuss all your options so you can make an informed choice. At Don’t Fret About Debt we offer all statutory debt solutions in Scotland so you are able to choose the debt solution tailored to you and your circumstances.
Once you choose the debt solution that works best for you there will be some paperwork to fill in to put the payment programme in place. We will pick up with all your creditors so you don’t need to. After this is done, you will make one monthly payment for the duration of your plan to pay off your debt.
Our debt advice is free so if you’re struggling with debt, speak to one of our experienced debt experts for a confidential chat on 0141 886 0017. Take the first step to dealing with your debt today.