Alternative Debt Solutions
Bank Loan Debt
Payday Loan Debt
Credit Card Debt
Store Card Debt
Mobile Phone Debt
Council Tax Debt
What is an IVA?
An IVA stands for Individual Voluntary Arrangement and is perhaps our most popular debt solution. Often chosen because of its ability to clear debts, it’s a legally binding agreement between your creditors to repay what you can realistically afford. At the end of the IVA, any remaining debts could be written off. On average, per client, we write off debts of around £13,500!
Debt Management Plan
What is a Debt Management Plan?
Although we don't offer this solution, a debt management plan is another option which can be very popular. For unsecured, non-priority debts – such as credit cards, payday loans, and personal loans – it allows you to repay your creditors through an affordable, monthly payment. In some cases, it’s possible to freeze any interest rates and charges associated with the debt.
What is a Trust Deed?
Although we don't offer this solution,Trust deeds are also only available for Scottish residents and similar to an IVA. A formal agreement, it stops creditors from taking action against you, freezes interest rates and charges, and allows you to repay what you can realistically afford. Once the trust deed has been completed, any remaining debts are written off.
Other Debt Solutions
What other Debt Solutions are there?
Although IVAs, DMPs and Trust Deeds are perhaps most common, there are alternatives. We can only help you with an IVA but we've detailed these here. Bankruptcy could write off your debts entirely while a debt relief order may be the best option if you have few assets. Alternatively, an administration order or the Debt Arrangement Scheme could help you deal with your debts. For a no-obligation chat about your circumstances, get in touch today.
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"Always would recommend them. Recently have been speaking with a close friend who is struggling, and she will call them. They are all a team and compassionate and so, so understanding. Over 6 years they always listened to me and guided and helped me. Am now debt free, all paid up. Thank you all so much. Highly recommend them."
"I didnt know what to expect from their Service but judging by previous experience with my creditors I wasnt looking forward to it. They were understanding, caring, sympathetic and incredibly helpful. If you are struggling with debt - these people, make debt their business and I was relieved to have the help that I so desperately needed."
"My advisor spent over an hour on the phone with me to completely understand my situation. He had a genuine interest in helping me get my life back together and that is exactly what he has done. I felt very comfortable speaking to him and would recommend him to anyone seeking help when they feel all is lost or nowhere to go to. Thank you again!"
"I was living in the dark with my debt then I found these people online. Prior to me contacting these people I was depressed, I was admitted to hospital with a suspected heart attack, I’m only 29. It turned out to be anxiety and stress due to my debt. I can’t tell you enough that I was close to giving up. These people helped me all the way, gave me an affordable payment each month, extremely easy to talk to."
Debt write off applies to unsecured debts and on completion of an IVA. A debt write off amount of between 20% and 80% 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.
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