Everything else you need to know.
We’ll be able to explain everything more fully if you want to give us a call, but for now, here are some of the most common questions our customers have when they first get in touch.
We’ll ask you about your income and outgoings, and your creditors (the people and companies you owe money to) so we can put you on the right path to getting help. We’ll also do a soft credit search to understand the full picture – but this won’t have a negative impact on your credit file or be visible to other companies.
Our team take the time to listen and understand your circumstances. There’s a wide range of debt solutions we can offer, and our experienced debt experts will only recommend a debt solution if it’s affordable and appropriate for your needs.
Any information or advice you receive is completely free. If you are eligible for help with your debts, the fee for the insolvency practitioners’ work will included in your monthly payment amount. We don’t take any payments upfront.
Don’t panic, with your consent we can carry out a soft credit search that will bring up all your creditor information such.
The advice we give is free, and there is no obligation to sign up to anything after your initial telephone consultation.
Once you’ve completed our online assessment and we know more about your circumstances, including where you live in the UK we can discuss all the options you qualify for. Common debt solutions include:
- debt management plans (DMP)
- individual voluntary arrangements (IVA)
- debt relief orders (DRO)
If you live in Scotland you may also qualify for other options such as a:
- protected trust deed, or
- debt payment plan via the Debt Arrangement Scheme (DAS)
We understand that some people may feel daunted at the prospect of talking about their debt. Seeking help with your debt is a huge step in the right direction, and after they’ve made the call, many of our customers tell us a huge weight has been lifted. We’re here to listen and help – without judgement.
An IVA is a legally binding, formal agreement between you and your creditors to repay a portion of your debt. An assessment of your income and outgoings is completed to check how much you can afford to pay into the IVA each month. Once an amount you can afford each month is established, your creditors vote to decide if the IVA should be approved. The majority of your creditors need to vote for the IVA for it to go ahead. Once approved, the IVA usually lasts for 5 years with any of your remaining debt written off at the end.
One of the big advantages of an IVA is that your property isn’t at risk as long as you keep up to date with your mortgage payments. In fact, none of your assets are at risk under the IVA. However, in the final year of your IVA, you may need to release equity from your home. If this isn’t possible, then the length of your IVA may increase by a year.
Your consultation is free, no-obligation and confidential. In instances such as bankruptcy, there will be costs to take into consideration. Any fees will be clearly outlined from the outset to help you make the right choice