Debt Management
Have you been involved in a debt
management program or considering signing up to
one?
If so this may not be
the best solution to your debt problems.
Many of our clients come to us after
years of paying into a debt management program only
to find that their debts have hardly reduced, they can
see no end to these payments and their creditors once
again begin excerting pressure. In a lot of cases, bankruptcy
is threatened.
Many Debt Management Companies
frequently claim they can negotiate with outstanding
creditors and reduce monthly payments to an affordable
level.
Depending on your individual circumstances
and level of debt we believe that a debt management
program is the last possible option which should be
considered. However if you are not a homeowner and your
unsecured debt is below £18,000 then this may
be your only option apart from bankruptcy.
In general terms if your total unsecured
debt exceeds £18,000 then you are probably
more suited to an Individual
Voluntary Arrangement - IVA.
We believe that, rather than approach
a debt management company, or if you have been paying
into a debt management program, you should consider
an Individual
Voluntary Arrangement (IVA).
for more details of an IVA
to complete our Financial
HealthCheck so that we can assess your financial
situation before you decide to take the debt management
route.
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IVA,
IVA's - Individual Voluntary Arrangements
- A simple overview:
Individual
voluntary arrangements
- IVA,
a solution to debt problems. An individual voluntary arrangement
can reduce your monthly outgoings and stop interest on unsecured
debts governed by the arrangement. Any outstanding debt not
paid off during the term of the individual voluntary arrangement
is legally written off. An individual voluntary arrangement
usually runs for 5 years at which time the individual could
be debt free. An individual
voluntary arrangement is highly
regulated by the Insolvency Act 1986, and supervised by a
Licensed Insolvency Practitioner which leaves it less open
to abuse than other debt solutions such as debt management.
Please complete our Financial
HealthCheck so that we may assess your suitability to
an IVA.
Debts-Solved are providers of IVA and debt solutions throughout
the UK. IVA manchester, IVA London, IVA Wales, IVA Northern
Ireland, IVA England, IVA Liverpool, IVA Lancashire, IVA Merseyside,
IVA Birmingham, IVA Midlands, IVA Salford, IVA Bristol, IVA
Rochdale, IVA Conrnwall, I.V.A. Newcastle, I.V.A. Sunderland,
I.V.A. Durham, I.V.A. Cumbria, I.V.A. Middlesborough, I.V.A.
Leeds, I.V.A. Yorkshire, I.V.A. Hull, I.V.A. Bradford, I.V.A.
Harrogate, I.V.A. Nottingham, I.V.A. Lincoln and all other
areas of the UK.
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