Write off
unafforable 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

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 www.moneyadviceservice.org.uk/en/tools/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

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

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