Write off unsecured debt
Freeze interest and charges
Stop being hassled and pressured
How does debt help work?
If you’re struggling with unaffordable debt you could be eligible for professional debt help to write off part of what you owe.
UK residents have a right to debt help and there are a number of tried and tested debt solutions that can help not only write off debt but also reduce pressure from creditors and freeze interest and charges.
Debt help solutions such as an Individual Voluntary Arrangement (IVA) can be a positive way to manage problem debt.
An IVA is a formal debt solution that offers the opportunity to write off up to 81% of unsecured debts such as credit cards, utility bills, and payday loans to name just a few.
Benefits of getting debt help
- No more borrowing from friends and family
- Stop the stress of bills you can’t pay
- No hefty charges for being overdrawn
- Get rid of those Payday loans
- No running out of money so soon after pay day
- Enjoy living life again
Here's an example of how an IVA can help
Let's say you owe...
| Bank Loans | £11,152 |
| Short Term Loans | £2,226 |
| Phone Bills | £302 |
| Credit Cards | £2,395 |
| Store Cards | £648 |
| Debt Collectors | £172 |
| Overdraft | £1,408 |
Total amount owed: £18,303
Customer monthly repayments before and after an IVA.
Reduced by 80%
Monthly payments are based on individual financial circumstances
Frequently Asked Questions
An Individual Voluntary Arrangement (IVA) is a formal debt solution that creates alegally binding agreement between you and the people you owe money to. You may decide to enter an IVA if you’re struggling to repay the total amount of unsecured debt you currently have but can repay some.
Yes, an IVA will have an impact on your credit rating as it will show on your credit report for six years after it has been approved. However, it’s important to note this is the case for most debt solutions and your credit score will likely already have been affected by being in debt in the first place.
Once your IVA is complete you will be offered a fresh start to begin rebuilding your credit rating.
In most cases entering an IVA won’t affect employment. However, in certain professions, such as accountants and solicitors, having an IVA may mean that you can no longer practice or you may only be able to practice under certain conditions.
An IVA can be a positive way to manage unaffordable unsecured debt and allow you to better manage your monthly finances.
In an IVA a single monthly payment is agreed with your current financial situationtaken into consideration – this payment is then divided between the people you owe money to. During the course of your plan all interest and fees associated with your debts are frozen.
At the end of the IVA the remaining debts are written off and you can begin your debt-free future.
When you’re considering entering an IVA, it’s important to be aware of the following:
If you are a homeowner and your property has equity in it, you’ll need to try to re-mortgage which could result in an increased interest rate.
Your credit rating will be affected.
Only the unsecured debts included in your IVA will be written off at the endof the agreement.
Your IVA will be recorded on a public register.
We offer free debt advice tailored to your circumstances. We’ll find out more about your current financial situation and your lifestyle to advise on the best solution for you. Although we offer advice on all debt help solutions available, wespecialise in Individual Voluntary Arrangements (IVAs), Trust Deeds and the Debt Arrangement Scheme (DAS).
All of our initial advice is free; however, fees will apply should you decide to enter into an arrangement. These will be discussed by an expert advisor to make sure you are fully aware of the costs involved.
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