More help for the self-employed in Debt Remedy

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Debt Remedy for the self-employed

Debt Remedy for the self-employed

This weekend saw the launch of our latest Debt Remedy initiative – the introduction of new features to support more of our self-employed clients.

As the demand for online debt advice increases we’re constantly looking for ways to support a greater number of clients through our online advice  tool Debt Remedy.

Previously, only self-employed clients who knew how much they could take from their business as a regular wage could use Debt Remedy.

We used to encourage those who were unsure of their income to contact Helpline. We’d then book an appointment with one of our debt advisors who specialises in self-employed debt help.

During that appointment the debt advisor would then help the client complete a business budget to calculate their take home pay.

So what’s changed?

Now within Debt Remedy if someone indicates that they’re self-employed we ask them some simple questions to establish whether they are confident about their take home pay. If they suggest they need some help working this out, they can now complete a business budget online.

This new online business budget can deal with numerous types of circumstances, from a straightforward business budget for a single person to a situation where a couple both have their own separate businesses.

Once someone has completed their business budget we’ll confirm to them exactly how much they should be taking from their business as a wage. We’ll then populate that figure as their take-home pay on Debt Remedy’s Income page.

Self-employed and in debt? What to do next

If you have a debt problem and you’re self-employed then we’d recommend you try Debt Remedy and take that first step towards becoming debt free.

Before you start, having these details to hand will help you breeze through the service:

  1. Any helpful information about the income and expenditure for the business
  2. Make a list of all your priority outgoings whether for your business or in your personal life
  3. Get an idea of your essential non-business expenditure
  4. Collect information about your creditors

For more on points 2-4 read our handy blogpost Your debt help checklist.

And if you get stuck at any point you can always click on the Need Help Now? button in bottom left corner, to have a web chat with an advisor.

Whether you’re self-employed, work for an employer or are unemployed, StepChange Debt Charity  can help you get debt free.

Matthew worked as an IVA drafter prior to working in social media. In a former life he wrote scripts for Eastenders, Emmerdale and Hollyoaks. He has 3 chickens, 2 dogs and a rabbit.

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  • It’s very useful tool Debt Remedy. Thanks for the post..