Money Debt & Credit: Turn around your finances
Write off up to 60-70% of your unsecured debt with an IVA. For more information call us free on 0800 16 999 46.

Apply for an IVA today

Our team of skilled debt advisors are specialists in IVAs, Debt Management, Trust Deeds, Secured Loans and Bankruptcy and will provide you with the most appropriate debt solution.
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Is an IVA right for me?

IVA


Debt Management Scheme Consolidation Loan Bankruptcy

If I cannot afford to pay off my debt, is part of it written off? Yes - IVA information No No Yes
Will my creditors stop contacting me? Yes - IVA information No No Yes
Will I be able to keep my home? Yes - IVA information Yes Yes No
Will there be a fixed time scale in which the solution runs? Yes - IVA information No Yes Yes
Will it avoid my financial situation being disclosed in public? Yes - IVA information Yes Yes No



Comparison of Debt Solution Options


Debt Solution

    Advantages

    Disadvantages

IVAs

  • IVAs Write off as much as 60-70% of your debts

  • Be clear of debts included in the arrangement after 5 years

  • Fees are incorporated into the monthly contributions agreed with your creditors.
  • You cannot get credit for the length of the IVA

  • Your credit rating will be affected for another year after the IVA is complete

  • Homeowners may have to re-value their homes in the 4th year and release equity to cover debts if the value has increased.

Debt Management Plan

  • Your monthly repayments will be reduced

  • You may be able to freeze interest on your debts
  • Your debts will not be reduced

  • You may be paying your debts off for a longer period of time

  • Interest may grow if your creditors do not agree to freeze it.

Consolidation Loan

  • Your monthly repayments will be reduced

  • If your debts have very high interest, it may even reduce your overall debt
  • Your debts will run over a longer period of time

  • You will have less flexibility to negotiate your repayments again if your circumstances change

Bankruptcy

  • Your debts will be written off after one year
  • You may be forced to sell assets, such as your home

  • News of your bankruptcy will be published openly

 


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