Frequently Asked Questions

What about my Payday-Loans or Short Term Loans?

Payday (Short-Term) loans maybe accepted into your debt relief plans. Our advisor will be able to assist you with more information.

How long before I am Debt Free?

Aspire Debt Advisors will strive to help you find the fastest and most suitable path out of debt that’s right for your personal circumstances. How long it will actually take you to become debt free will depend on the amount you owe and how much you can afford to repay each month. Your debt adviser will discuss all of your options with you and let you know how long each program would take to complete.

Am I eligible for an IVA?

You could be eligible for an IVA if you live in England or Wales, have over £6,000 worth of unsecured debt with at least 2 different creditors.

Am I eligiable for a Debt Management Plan?

If you are a resident of the UK and depending on your debts and circumstances then you could be eligible for a debt management plan.

Am I eligible for a Protected Trust Deed plan?

If you are a resident of Scotland that are in financial difficulty with debts over £6,000 and meet specific criteria you may be eligible for a Protected Trust Deeds plan.
Provided you have maintained all of your trust deed payments, you will be free of all unsecured debts within 4 years.

What do I do First?

Simply fill out the form on our contact page, or call us on 01639 891400 and wait for a trained adviser to contact you. They will discuss your situation with you and help you find the best solution to your debt troubles. Your adviser will assess your situation and from this information, together you will decide upon a solution that’s right for your particular set of circumstances and your level of affordability. You should complete the form in as much detail as possible or call our number 01639 891400 and then await an adviser’s phone call.

Where are bankruptcy orders made?

Bankruptcy petitions are generally presented in the High Court in London or at a county court near where you live or work (bankruptcy petitions may not be dealt with at all local county courts).

What will happen to my earnings in bankruptcy?

When you are bankrupt the official receiver, after looking at your income and taking into account expenses such as your mortgage, rent and household bills, may decide that payments should be made to your creditors.
You may be asked to sign an ‘income payments agreement‘ which will commit you to paying fixed monthly payments from your income for up to three years.
If your circumstances change you will need to tell the official receiver so that they can review these arrangements.

Will I lose my assets, such as my house or my car?

Most debt relief programs will allow you to keep your assets. However, there are some options which may require you to give up some or all of your assets including bankruptcy and sequestration. Your debt advisor will help you find the option that’s right for you.

Will my credit rating be affected?

All debt relief solutions affect your credit rating in some way. Your credit rating may be affected for up to 6 years and you may have difficulty obtaining credit in the future.

What is the difference between Secured and Unsecured debts?

Secured debts are those secured against an asset that you own such as mortgages, car loans or secured loans, whereas unsecured debts are those not secured by an asset. These include bank loans, credit cards, store cards, personal loans and overdrafts.

You can get free debt advice from the Money Advice Service – an organisation set up by the Government to offer free and impartial advice to those in debt, this free service is updated frequently.

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About Aspire Debt

We are one of the UK's debt help providers and our mission is to help you find an affordable way to deal with your debts and to put you back into control of your finances!

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Money Advisory Service

Free debt counseling, debt adjusting and providing of credit information services is available by contacting the Money Advice Service.

Contact Information

Western Avenue,
Sandfields,
Port Talbot,
South Wales,
SA12 7NF,
Telephone: 020 4536 4250
Email: help@aspiredebt.com

Aspire Debt Solutions is a trading name of Aspire Solutions (UK) Limited Registered in England & Wales No 6406978
Authorised and Regulated by the Financial Conduct Authority No:678758
Information Commissioner's Number, Data Protection No: Z1254683.
Western Avenue, Sandfields, Port Talbot, South Wales, SA12 7NF, Telephone: 020 4536 4250
W: https://aspiredebt.com - E: help@aspiredebt.com

Disclaimer: Please note that all calls to and from the company may be recorded or monitored for quality assurance and training purposes.

Aspire Debt Solutions will work closely with you to evaluate your options and then customize a program that meets your financial goals. Details of the fee structure can be found in our terms and conditions. Not all clients are able to complete our program for various reasons, including their ability to save sufficient funds. Our estimates will vary depending on your specific circumstances. We do not guarantee that your debts will be resolved for a specific amount or percentage or within a specific period of time. We only make monthly token payments to creditors as you accumulate funds for the purpose of settling the enrolled accounts. We do not assume your debts, provide tax, accounting or legal advice, nor will we provide credit repair services. Read and understand all program materials prior to enrollment. Like all debt relief options, debt settlement services will adversely affect your creditworthiness. Your creditors have rights which could lead to active collection efforts and the use of legal remedies to aid in their recovery efforts. Interest, fees and charges may increase the outstanding balances of your enrolled accounts in the event your creditors deny our request to suspend the aforementioned. Creditors are not obliged to accept settlement offers however, negotiated settlements obtained on your behalf will resolve the entire account, including all fees and interest accrued. Aspire Debt Solutions uses reasonable care to ensure that the information appearing on this website is up to date and accurate. Whilst Aspire Debt Solutions takes precautions to prevent the occurrence of errors and omissions, the user of this website should not take the accuracy of the information for granted. Aspire Debt Solutions may receive a commission for cases passed to a third party for administration. None of the material contained in this website is to be relied upon as a statement or representation of fact. Aspire Debt Solutions does not accept liability or responsibility and it gives no warranty as to the accuracy of this information. Aspire Debt Solutions is not giving advice or recommendation by virtue of having provided information on this Website. You acknowledge that such information and materials may contain inaccuracies or errors and we expressly exclude liability for any such inaccuracies or errors to the fullest extent permitted by law. Under no circumstances will Aspire Debt Solutions or its employees accept liability for any decision made or action undertaken as part of reliance to the information contained on this Website. Your use of any information or materials on this website is entirely at your own risk. It shall be your own responsibility to ensure that any products, services or information available through this website meet your specific requirements. Your statutory rights are not affected by this disclaimer.