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What is a Debt Settlement?

Clear your debts in one go!

If you have the finances available to clear all of your debts in one payment, then we could help you repay less than you currently owe with our Debt Settlement service.

In 2013, we’ve helped our customers save on average £1,600 with Debt Settlements!

  • Clients saved over £3.1 Million since 2009
  • 25% Total savings on all debts settled through a Debt Settlement

Why are Baines & Ernst the best people to help you?

We have been helping people get out of debt since 1996, and have forged excellent relationships with over 3,500 lenders around the country – putting us in a strong position to negotiate with the companies you owe money to.

This means we could help you reduce the total amount you owe and clear your debts at a reduced rate!

Like any debt solution, a Debt Settlement depends on your financial situation and lender agreement, but if you want to write off a proportion of your debts, then we are the people best placed to help you.

What you need to know about Debt Settlements

How a Debt Settlement works

If you have the finances available to clear your debts in one payment, we could help you save money on the total amount repaid and write off a proportion of your debts.

You simply tell us about your debts and the total amount you have outstanding and we will negotiate directly with your lenders to secure a reduced repayment for you. In our experience, lenders are keen to settle debts – but it’s our job to get you the best deal.

Is Debt Settlement suitable for you?

A Debt Settlement is suitable for anyone with the finances available to clear their debts in one payment.

You could repay your debts with a Debt Settlement if you have:

  • Received inheritance
  • Re-mortgaged
  • Taken out a secured or unsecured loan
  • Received a work bonus
  • Sold your home
  • Cashed in a pension or life insurance policy
  • Received an injury claim
  • Received a windfall
  • Get financial help from your family

Credit rating

If you have missed or made late payments on your debts, then your credit rating may already be affected. If you have a Default Notice, a CCJ or any other type of court action, then these will remain on your credit file for 6 years.

Key information & fees

The Debt Settlement service depends on your financial circumstances and is subject to lenders agreeing to the Settlement.

If your lenders agree to the repayment at a reduced offer, they are agreeing to write off a proportion of your debts.

Fees do apply for the debt settlement service, but these fees will be provided to you in advance. Click here for more information on fees.

Find the right solution

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  • Total unsecured debt: £500

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Find the right solution

Answer a few simple questions and we'll help you find your solution.
  • Total unsecured debt: £500

    Click here to read the privacy policy
  • This field is for validation purposes and should be left unchanged.

Debt advice you
can trust...

dmpp

As a Debt Management Plan Protocol Approved company we are committed to providing exceptional standards of service. We are proud members of DEMSA and follow their Code of Practice which is approved by the TSI.

Authorised and regulated by the Financial Conduct Authority

Money Advice Service

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. Click here for more information.