0800 002 9051Types of Debt We Help With
Credit Card
Personal Loans
Overdrafts
Store Card
Council Tax
Arrears
Catalogues
Payday Loans
Unsecured Car
Finance
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In-House Team
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Help You Can Trust
Reduce Your Payments
Only Pay What You Can Afford
Here is an example of how we could help
Unsecure Debts
Total Debt £18,750
Substantiation example, Someone owes £24,000, they pay £108 over 60 months which equals £6,480, write off amount would be £17,520 which is 73% of total debt level
* A debt write off amount of between 25% and 75% is realistic, however, the debt write off amount for each customer differs depending upon their individual financial circumstances and is subject to the approval of their creditors. The example provided of 73% has been achieved by 10% of our customers in the last 12 months.
Money Statistics July 2022
People in the UK owed £1,794.8 Billion at the end of May 2022.
The average total debt per household including mortgages was £64,581.
A credit card on the average interest would take 25 years and 5 months to repay, making the legal minimum repayments each month.
327 people a day were declared insolvent or bankrupt in England or Wales between April 2022 and June 2022. This is equivalent to one person every 4 minutes and 25 seconds.
Citizens Advice Bureau in England and Wales dealt with 2,031 debt issues every day in the year to May 2022.
Common Questions?
An Individual Voluntary Arrangement or IVA will allow you to repay your debts at a lower rate over a set period of time, usually over 5 years but sometimes it can be 6 years. At the end of he IVA the remaining unpaid debt will be written off.
The answer is yes, once your IVA is approved this will be on your credit file for 6 years. However if you have missed payments, received defaults or ccjs then your credit score would have already been negatively impacted as defaults and ccjs also stay on your credit file for 6 years.
This depends on your debt level, type of debts you have and your affordability. We will do an initial assessment on all these areas over the phone and let you know once this is complete.
If you do qualify for an IVA, our team will work with you to prepare the necessary paperwork, and liaise with your creditors to seek their approval.
You won't need to sell your assets like your home and car for example.
An IVA is completely tailored around your finances and will create a plan that involves repayments that you can genuinely afford. Once the IVA is agreed, your creditors are no longer allowed to contact you.
There's no upfront payment required, which can makes this form of debt help more accessible for all who are eligible, however, if the IVA is approved, a fee will be charged from the money paid into it. Click here for an explanation of the fees.
If you are a homeowner you may need to release equity in month 54 of the IVA, if this is not possible then your IVA maybe extended from 5 years to 6 years.
Your credit file will be negative impacted for 6 years.
Only unsecured debts can be added to the IVA, and there are certain debts that cannot be included such as child maintenance arrears, Student Loans, and court fines.
You won't be able allowed to apply for more than £500 credit throughout the course of your IVA.
Your IVA is recorded on the public insolvency register.
There are no upfront fees to do an IVA with ourselves, and you will only be asked to make a payment towards your IVA once the IVA is approved. Our fees, which are called a Nominee's fee and Supervisor’s fee, are included in what you pay back over the term of the IVA.
For more information, click here for an explanation of the fee.