Getting debt free with Money Advice
By actively looking for help with your debts, you’ve already taken one of the hardest and most important steps. You’re in the right place.
Subject to suitability and criteria. IVAs are available for people who live in the England and Wales. Fees apply. Your credit rating is likely to be affected. To find out more about the risks and benefits, read here.
What am I going to need for debt help?
To get started, it would be beneficial for us to have an idea of:
- Your debts
To understand your debts, we’ll need to know who your creditors are and how much money you owe to them. We complete a soft credit check if needed. - Your income
We’ll need an idea of how much money you have coming in – from any payments such as employment or benefits. - Your spending
A rough idea of how much money you have going out for your priority payments (rent/mortgage) and other everyday living expenses (food/clothes).
Where can I find this information?
If you don’t have this information straight away, do not worry – an estimation will help us get started. However, some things that you may have to hand are:
Emails or Letters from Creditors
Your creditors may have sent you correspondence about your debts, which may detail the amount that you owe.
Payslips, Tax Returns or Benefits Letters
These are documents that will help provide information about your income, whether you’re employed, self-employed or unemployed.
Credit Report
You can get a free online report for information on the debts you owe from the main credit companies: Experian, TransUnion and Equifax. During our process, we will also be able to carry out a soft credit search which will show us your creditors and outstanding balances, without leaving a negative impact on your credit score.
What to expect?
Tell us your situation
Taking the first step can feel difficult, but you’ll be treated with empathy, respect and understanding from the moment you get in touch. You can speak openly about the challenges you’re facing, in complete confidence and without judgment.
We will understand
We’ll take the time to build a clear picture of your finances, your concerns and what matters most to you. This helps us provide genuine support and realistic options that are tailored to your situation.
Explore your options
Everyone’s priorities are different. You may want to become debt-free quickly, protect your credit rating, or simply make repayments more manageable. We’ll help you understand your options so you can choose what feels right.
Ongoing support
If you decide to proceed, your case will be managed by a regulated Insolvency Practitioner, with a dedicated assessor supporting you throughout. There’s no pressure to rush — ask as many questions as you need, whenever you need.
Complete the questions below and see if you qualify for help.
Thousands across the UK have explored IVAs with Money Advice.
Take the next step towards a possible debt free future. We’re rated 5 stars by our customers on Trustpilot and have exceptional ratings on Feefo.
Could an IVA be right for you?
Answer a few questions to check your eligibility online.
Prefer to arrange a call?
Speak to us about debt solutions, including IVAs at a time that works best for you.
To find out more about managing your money and getting free advice, visit Money Helper, an independent service set up to help people manage their money.