There are fees and charges payable within an IVA solution. These are agreed upon with your creditors as part of the proposal. The fees are incorporated into your affordable monthly payment.
May not be suitable in all circumstances. Your credit rating may be affected. Fees apply on successful applications which will be advised and built into your payment plan.
By filling out this form, we will conduct a fact-finding call with you, we DO NOT give advice, but we partner with trusted companies who can give advice, our job is to collect the information needed to formulate an overall picture of your circumstances. So, if you do think you need a solution, we have all the information and evidence to hand to help the firm and yourself to make an informed decision.
We will only conduct a fact-finder enquiry that can help you find a solution.
If a plan is agreed then fees will apply with full transparency. Your credit rating may be affected. May not be suitable in all circumstances. Calls to help with debt is confidential.
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More details on Help With Debt Debt Solutions
Debt Relief Order
About DROs (Debt Relief Order)?
A Debt Relief Order (DRO) is a help with debt method of debt relief for those that have a relatively small amount of debt and very few assets
If your circumstances change during the 12-month period and you no longer meet the eligibility criteria, it is likely that the application will be canceled, and you will need to make alternative arrangements to pay your debts.
A Debt Relief Order may impact upon your employment; therefore, you should always check the terms of your employment contract before making an application. You are also unable to be a company director unless you have permission of the court.
An Individual Voluntary Arrangement (IVA) is a legally binding help with debt agreement between an individual and their creditors. It is a solution that allows a person to only repay a percentage of their unsecured debt to their creditors in affordable monthly payments, usually over a fixed term of five or six years.
There are fees payable for the work completed in setting up and managing your IVA, however, these fees are taken out of your monthly repayments and are NOT in addition to the payments made to your creditors.
If you are a homeowner, you may be required to release equity from your home in order to help repay your debts. If you are unable to remortgage, the IVA may be extended for 12 months instead.
Bankruptcy is a legally binding debt solution to resolve a debt problem that cannot be resolved in a help with debt solution. In Scotland, this is sometimes called sequestration.
Bankruptcy may impact your employment; therefore, you should always check the terms of your employment contract before making an application. You are also unable to be a company director unless you have permission from the court.
A Debt Management Plan (DMP) is an informal help with debt agreement between you and your creditors that has been negotiated, usually by a third party, to lower the monthly payments being paid to your creditors. A DMP is arranged on your behalf by a third party which can either be a debt charity or a fee charging company. If you chose to use a fee charging company, there will usually be set up fees and a monthly management fee which will normally be included within your monthly payment.
