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0800 157 7254
Existing customers helpline:
0800 093 5322
Debt Example
Here's how a debt management plan can help you repay debt.| Catalogue | £735 |
| Loan | £625 |
| Credit Card | £1,568 |
| Overdraft | £4,697 |
| Total owed | £7,652 |
Benefit of a Debt Management Plan
| Current monthly payment: Term: 10 years (for credit card) | £492 |
| New monthly repayment:
Term: 3 years 8 months* |
£222 |
Our customers
I hope that this good work will continue and eventually get us out of what was a very hasty job. Many thanks.
JWL Adams
Why Debt Advisory Line?
We aim to reduce debt in the shortest possible time. We are members of DEMSA - (The Debt Managers Standards Association). We adhere to the code of conduct as set out by DEMSA which aims to protect the interests of both consumers and lenders. The DEMSA code of practice is approved under the OFT (Office of Fair Trading) Consumer Codes Approval Scheme (CCAS).
Latest Debt Management News and updates from Debt Advisory Line
OFT warning against borrowing from loan sharks
Mon 24th May 10 - 11:10
OFT warning against borrowing from loan sharks
The Office of Fair Trading together with trading standards officers is starting a campaign against loan sharks, warning of the dangers of borrowing money from unregulated and illegal sources.
Around 200,000 leaflets and posters will be handed out and displayed in Scotland, Northern England and the West Midlands warning of the sometimes violent nature of loan sharks. An estimated 165,000 households in the UK borrow money from loan sharks.
The OFT commented: "Unlicensed loan sharks will often offer cash loans without paperwork; they may take benefit or bank cards as security, and threaten or use violence to get money."
11,500 people and £31 Million of illegal loans have already been written off because of the OFT's work to date. Prison sentences have been handed out to some of the illegal money lenders.
Craig Gedey, marketing manager at the Debt Advisory Line said: "The OFT's work in this area of illegal lending is highly commendable and this new campaign will hopefully continue to highlight the fact that people should never borrow money from an unlicensed source."
"With no contractual security and extortionate interest rates being charged, most people are very likely to fall behind with repayments to a loan shark."
The OFT leaflet and poster campaign will highlight the extortionate interest rates charged and that borrowers will often face the possibility of threats and violence.
Craig Gedey continued: “People struggling with debts should seek professional advice from an established debt management company. Borrowing to repay other debts is a recipe for financial trouble; a good debt management company should complete an income and expenditure exercise to find out how much you can realistically afford to repay.”
“Here at the Debt Advisory Line, we are fully committed to your financial well being. We will be efficient, ethical and transparent in dealing with you and your creditors. Debt Advisory Line is a member of the Debt Resolution Forum and DEMSA and abides by the Office of Fair Trading Guidelines when giving advice to customers about debt.”
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