The answer is yes! Becoming debt free can really help you financially.

You can not turn anywhere without hearing the dreaded words: “credit crunch”. You may feel as though you have not been affected as you are doing fine financially, but becoming debt free is essential if you want to avoid some of the effects of the credit crunch.

No matter what your level of debt it can cause you a huge amount of stress. Even a small amount of debt can make paying the bills a much more stressful and time-consuming task. You may find that you forget to repay your credit card or store card debt and that you are building further interest on your debts, which is why becoming debt free is important.

Once you have paid off your unsecured debt and become debt free, you don’t have to worry about missing repayments to these debts as the bills won’t be coming through your door. Your lifestyle will also benefit as now you are not paying interest and charges on the debt, as there is no debt to repay.

Being debt free can help you plan for the unexpected. If you find that you are in a financial emergency you could have the money available, perhaps because you have been saving more (because all your money is not going to repay your debt) or you have the credit spare on credit cards and you know it will be affordable to you.

One essential thing about being debt free is that you can start saving, or you may wish to contribute more to your pension fund meaning that you will have the money spare for a rainy day or a financial emergency. And on top of that, you will actually be earning interest instead of paying it

The best debt free solutions company could be the one that offers the services at a level that you can afford. Most debt free solutions companies do charge for their service, and this could be something that you want to consider.

After this point you may want to investigate further – find out a little bit more about the company, such as what other products they offer and ensure that they offer a wide range of services so you know you are going to benefit from a debt free solution which helps you. Some debt free solutions companies just tend to specialise in one product, such as a Debt Management Plan, this can be useful but only if you want Debt Management, you may find that you are closed off to other debt free solutions which would suit you better.

You will be pleased to hear that DebtFree.co.uk are a debt free solutions company which aims to offer you a complete service. Not only do we specialise in debt management plans, we specialise in a range of other debt free solutions, such as IVA, Trust Deeds and bankruptcy. This puts us in the best place to ensure that you get the right advice and debt free solution for you.

No one can decide which debt solutions company is right for you, as that is your decision to make. If you are confused about which is right for you, please feel free to call our debt free advisors. They are fully trained and can offer you the DebtFree advice which is right for you.

You might be calling about how to deal with high levels of debt. If you have over £12,000 worth of debt then you may be suitable for an IVA. An IVA allows you to make reduced payments to your creditors, and most of our Debt Free IVA clients can expect to be debt free in 60 months. An IVA is only suitable for residents of England, Wales and Northern Ireland.

This may be a problem for some localised financial solutions companies, but as we offer national debt advice, we can also help Scottish residents. A Debt Free Trust Deed is an IVA alternative which are only available in Scotland. It works in a similar way to an IVA, but you can typically be Debt Free in 36 months.

Through our online website we can offer you debt advice, such as Debt Free Tips which can provide you with tips on better ways to manage your debt, so you can be on the road to becoming debt free.

FREE National Debt Advice.

Debt Free provides a free and ethical national debt advice service. Our advisors are on hand to answer any questions that you may have about your UK debt, and the best way to manage your finances.

Becoming debt free may seem like an impossible dream, but putting yourself on the road to dealing with debts is the first step you need to take, and following these tips could help you be debt free that little bit quicker:

1: Budget – This is the basic step to becoming debt free as it is essential that you keep your spending in check. Work out how much cash you have to spare after all your essential living expenses have been deducted, such as mortgage payment. Ensure that your budget is tight but also realistic and use any left over monies to pay off your debt and get closer to your debt-free deadline.

2: Sort out your credit card debt – Chances are that you might have a number of credit cards which have built up debt over the years. If this is the case then it is essential that you get your credit card debt in order. There are now less 0% balance transfer deals on the market than before the credit crunch, but there are still deals out there. If you get accepted then you can transfer your balance (often for a fee) and you won’t have to pay a single penny of interest as long as you keep to the terms of the deal.

This doesn’t just apply to credit card debt, you could also transfer your overdraft or store card to this 0% deal. As you won’t have to pay interest, you are much more likely to clear your debt in a quicker time frame. Just remember to transfer the remaining debt before the end of your interest-free period, or else you could find yourself with debt at an extraordinarily high interest rate.

3: Think carefully about debt consolidation – When dealing with debts, many look to consolidate their debt into one single monthly payment through debt consolidation. This isn’t the best move for everyone, as the temptation can be to spend on the credit cards or store cards that you have consolidated which will leave you in even more debt.

4:  Take debt advice – If your levels of debt are out of control then you may want to seek debt advice about the best way to deal with your debts. There are a number of debt solutions available and DebtFree can offer you further help and guidance about which one of these products is right for you, we can help you to be debt free!