Help & advice for bad credit
Need help with bad credit?
Finding the right solution can be a minefield of conflicting advice and confusing information, we can help by offering a full review of your circumstances and offering any solutions we think are suitable in a concise and no nonsense way - for plain English, jargon free help & advice speak to a specialist Baker Financial debt advisor.
- Various options available
- Straight forward help and advice that works!
- Credit repair solutions
- Friendly, dedicated advisors
- Confidential one 2 one advice
If you need help don't delay - the sooner you contact us the sooner we can help
We have various options available for people with bad credit who want help and advice to clear debt and repair any bad credit.
Bad Credit Options
We have various bad credit options available from consolidation loans to debt management. We have listed below the plus and negative points of our most popular bad credit debt help solutions.
Debt consolidation is often the first option considered by people who are looking for a solution to bad credit, the aim is to consolidate the bad debt into one single bad credit loan and instantly clear the bad credit with a new loan
Consolidation loan - Plus point
- Can reduce your monthly payments
- One single monthly payment
- Will instantly clear your bad credit
- Most socially accepted form of bad credit solutions
Consolidation loan - negative points
- you will usually pay more over the term of the loan
- hard to get approval
- may include up front fees before you are accepted
- being refused a loan can be upsetting for some people
Debt management to clear bad credit
Debt Management is a very popular option for people struggling to meet their financial commitments and are easier to get approved then consolidation loans if you already have bad credit registered against you.
As you can see from the points below, the results of a debt management plan are similar to debt consolidation!
Debt management - plus points
- One single monthly payment
- new payment is based on what you can afford
- reduced monthly payment
- we deal with your creditors for you
- instantly benefit from the reduced monthly payment
- you wont be increasing your debt with another loan
- easier to get approval for debt management than a loan
- interest and charges may be frozen
Debt management - negative points
- your credit may be affected
- it will usually take longer to clear your debts with a debt management plan
IVA (Independent Voluntary Arrangement) to clear bad credit
For larger debts of over £15,000 is a very common alternative to both consolidation loans and debt management and can often help stop bankruptcy as a means of clearing your debt.
IVA - plus points
- one monthly payment
- creditors can no longer contact you
- further interest and charges are frozen
- usually debt free within 5 years
- write off up to 75% of you debt
IVA - negative points
- your credit rating will be affected
- social stigma
- stricter minimum criteria than debt management
You may also be interested in Creditors & Debts
Regardless of your circumstances we can help with your debt and bad credit needs by offering totally impartial and confidential advice tailored to your circumstance.
Contact us today - if you want to find out if we can help before phoning us simply complete the form at the top of this page or take out online debt test today!
