There are many reasons why people find themselves in debt. Some of the most common causes of debt are illness, a change in personal circumstances such as redundancy, divorce or a relationship ending, or bereavement. Fortunately, there are many debt solutions available to over indebted individuals where there is no need to take out further loans or to suffer the restrictions imposed by bankruptcy.

We primarily deal with IVAs but we will advise anyone who wants our help. We always try to find a solution which is satisfactory for all our clients.

What solutions are available to me?

IVA (Individual Voluntary Arrangement)

An IVA is a procedure whereby you (and/or your partner) come to an arrangement with your creditors to make a payment that you can afford. An IVA is a legal procedure, governed by The Insolvency Act 1986, so once your proposal has been accepted by your creditors they are bound by the terms of the agreement.

It usually lasts for 60 months or less and can mean that a large percentage of your debt is written off. Under an IVA you would make one payment each month for the duration of the IVA. This payment will then be divided out between your creditors. The payment you will make and the duration of the IVA is based solely on your personal circumstances and will be at a level you can afford.

During the term of your IVA your case supervisor will be responsible for all communication between you and your creditors. This means that you should no longer receive calls and letters from your creditors. If a creditor calls you during your arrangement you can simply give them the number of your case supervisor who will deal with all queries.

Benefits of an IVA

	DEBT FREE IN 60 MONTHS
	1 EASY MONTHLY PAYMENT
	ALL INTEREST FROZEN
	NO UPFRONT FEES
	TENANTS/HOMEOWNERS WELCOME
	PROTECTION FROM CREDITORS
	QUICK RESPONSE TURNAROUND
	CREDIT PRESSURE STOPPED
	CAN BE PROPOSED JOINTLY WITH PARTNER

IVA - Frequently Asked Questions

To find out more about an IVA apply online now or call 0800 043 0550 to speak to one of our expert advisors.

Debt Management Plans

A Debt Management plan is an informal arrangement between you and your creditors whereby you agree to make a payment every month to your creditors. It is managed by a Debt Management company who will be responsible for all correspondence between you and your creditors. The duration of the debt management plan is set so that all of your debts are paid in full and can be a good way of reorganising your finances. It does not provide you with any protection as your creditors are not legally bound by its terms.

If you would like to ask us any questions about Debt management plans you can contact us and we will be happy to advise you. Alternatively if you would like to consider an IVA apply online now or call our freephone on 0800 043 0550

Note: You are under no obligations by applying for an IVA. We will use your information to advise you of your best solution. We will never pass this information to any third parties without your consent.

Debt Consolidation

A debt can be consolidated into one monthly payment by taking out a personal or secured loan or by remortgaging your property. The idea behind debt consolidation is that you use this loan to pay off all your other debts and are left with one monthly payment. A debt consolidation is not usually advised for large debts as it can just put you into the same or even worse position. For large debts an IVA may be your best solution. 

If you would like to ask us any questions about Debt consolidation you can contact us and we will be happy to advise you. Alternatively if you would like to consider an IVA apply online now or call our freephone on 0800 043 0550

Note: You are under no obligations by applying for an IVA. We will use your information to advise you of your best solution. We will never pass this information to any third parties without your consent.

Administration Order

An Administration order is for debts of less than £5,000. It is imposed and administered through your county court. Under the administration order you make regular monthly payments to the court who will then distribute this money to your creditors. The court will also take some of this money towards their own costs.

If you would like to ask us any questions about Administration orders you can contact us and we will be happy to advise you. Alternatively if you would like to consider an IVA apply online now or call our freephone on 0800 043 0550

Note: You are under no obligations by applying for an IVA. We will use your information to advise you of your best solution. We will never pass this information to any third parties without your consent.

Bankruptcy

Bankruptcy is a way of legally declaring your inability to pay your creditors. You can petition for your own bankruptcy or a creditor who you owe more than £750 can petition for your bankruptcy. It costs around £150 court fee* (which could be waived if you are on income support) and around £317 administration fee* in the UK. You can contact your local court office by calling the Court Enquiries line on 0207 210 2266 or by looking under “court” in your local phonebook. You will need to speak to the bankruptcy clerk and ask them to send out the forms for you to fill out. Alternatively you can go online to www.insolvency.gov.uk to complete the forms.
Note: If you are married separate bankruptcy fees will apply.
* These fees are correct at time of processing.

If you would like to ask us any questions about Bankruptcy you can contact us and we will be happy to advise you. Alternatively if you would like to consider an IVA apply online now or call our freephone on 0800 043 0550

To find out more about some of the terms mentioned above please read our Debt Glossary

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