Write off
unaffordable debt...

A Debt relief scheme
may allow you to write off your
unaffordable debts and avoid bankruptcy.

  • Write off debts of over £6,000
  • Government Approved Debt Solutions
  • Freeze interest and charges
  • Stop Creditor Contact
  • Start enjoying life again
Check If You Qualify
Trustpilot

Key Benefits

Enjoy peace of mind your debt is being managed

WRITE OFF UNAFFORDABLE DEBT

Lower your repayments

No upfront charges to pay

Stop creditors harassing

One affordable monthly payment

Freeze interest and charges

Free and impartial advice is available from the Money Advice Service.
MoneyAdvice Service

To find out more about managing your money and the free debt advice options available visit The Money Advice Service – an organisation set up by the Government to offer free and impartial advice to those in debt. For more information from the Money Advice Service visit https://www.moneyhelper.org.uk/en/money-troubles/dealing-with-debt/debt-advice-locator. In addition, you can find government guidance on dealing with your creditors here.

Debt Solution Finder

Work out how much you could write off & reduce your monthly payments by below...

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Example of How We Can Help.*

We consolidate all the debts into one smaller monthly payment which allows you to get back on track.

YOUR MONTHLY REPAYMENTS
WOULD BE

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Example of How We Can Help.*

We consolidate all the debts into one smaller monthly payment which allows you to get back on track.

YOUR TOTAL REPAYMENTS
WOULD BE

Check If You Qualify

Debts We Can Write Off.

Loans

Catalogue and Store Cards

Benefit Overpayments

HMRC Debt

Overdrafts

Rent, Gas and Electricity arrears

Credit Cards

Council Tax Arrears

IVA Pros & Cons

Advantages Disadvantages
Once approved, an IVA is binding on all of the creditors included in it, whether they agreed to it or not If you have any equity in your property or any other significant valuable assets, you may be required to release some or all of this as part of the IVA agreement. However, sometimes the creditors agree to an extra year of IVA payments if an equity release from your property is not possible, making the IVA 6 years in total instead of 5.
Under an IVA, creditors cannot apply any interest/charges to the debts included, take legal action, or contact you about your debts Usually you will only be able to undertake an IVA if your total unsecured debt is more than £6,000. In addition, you will usually need to be able to afford a monthly payment of at least £80.
The IVA provides a formal alternative to bankruptcy, meaning you don’t need to sell significant assets like your home While you are in an IVA, you will not be able to use your store or credit cards. These must be cut up. However, it may be possible to change an existing mortgage or take a new one while you are in an IVA. In addition, you may be approved to borrow up to £500 if this is agreed with the insolvency practitioner. You will be able to use prepaid cards.
You will make one affordable payment into the IVA each month Failure to maintain control of your finances and keep up your IVA payments will mean that you may be bankrupted. However you may be able to take payment holidays and you may be able to miss payments for extreme circumstances, but this will extend the period of you IVA.
The IVA lasts for a set period – usually five years – after which any debt left outstanding in the IVA is written off Your credit rating will be effected and you will be unable to borrow for the duration of the IVA. You will also have a period after your IVA where it may be hard to get credit. This period varies but a credit rating can be repaired over time.
An IVA will usually last for 5 years compared to bankruptcy which will usually only last 1 year unless you have a payment order and this will last three years.
In an IVA you will pay back as much as you can afford over the 5 years (e.g. 20%-50%) as opposed to bankruptcy where you will pay back a minimum amount (which could be as little as 0%).
All creditors must be included and you cannot make separate arrangements with each one (which can be done in a DMP).
Some jobs do not allow the employee to become bankrupt or be in an IVA. It is important to check the terms and conditions of employment to be sure of this.
IVA is a form of insolvency as is bankruptcy, so your name can be searched in the insolvency register which is available on the internet. However, someone would have to have a reason to do this; the information is not advertised in any way. See: https://www.gov.uk/search-bankruptcy-insolvency-register

Debt Solutions

Individual Voluntary Arrangement (IVA)

Debt Management Plan (DMP)

Trust Deed

Debt Arrangement Scheme (DAS)

Debt Relief Order (DRO)

Bankruptcy

Sequestration

Debt Consolidation

Individual Voluntary Arrangement (IVA)

Individual Voluntary Agreement An IVA is an agreement between you and your creditors to help you pay off your debts at an affordable rate. At...

  • June 29, 2019

Debt Management Plan (DMP)

Debt Management Plan (DMPs) Are you struggling under the weight of your mounting debts? Are you unsure each month how to get a hold of...

  • June 29, 2019

Trust Deed

Protected Trust Deed A Protected Trust Deed in Scotland is a legally binding arrangement between a person and their lenders, usually lasting for a duration...

  • June 29, 2019

Debt Arrangement Scheme (DAS)

Being unable to repay your creditors within a set time span or being stuck in a situation where your money-related issues seem to be spiraling...

  • June 29, 2019

Debt Relief Order (DRO)

A debt relief order (DRO) is one of the debt management options available to you if you are under a debt of £20,000 or less,...

  • June 29, 2019

Bankruptcy

Declaring Bankruptcy Bankruptcy may be the right solution for you if you have major debt problems. Declaring bankruptcy in the UK will allow you to...

  • June 29, 2019

Sequestration

Sequestration If you live in Scotland and you are unable to pay back unsecured personal debts worth in excess of £1,500, then you might be...

  • June 29, 2019

Debt Consolidation

Debt Consolidation - What is Debt Consolidation? Debt consolidation is a form of debt refinancing that means you take out one loan to pay off...

  • June 28, 2019
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