Debt is no fun, that’s a fact!
If you’ve had enough of debt pressures and want to figure out a way to pay your debts and still have a life, then a Debt Help plan could be your answer.
- Cut the stress in your life - We arrange for you to pay one affordable monthly payment to all of your debtors.
- Don’t pay out more - Once the monthly payments are under way, we can negotiate freezing all the extra charges you pay.
- Get rid of your debt quicker - Reviews of your situation help reduce your debts faster.
- Start my Debt Help application today
The First Step
Working with one of advisors, you will work out a minimum amount of money that you can afford to repay each month. The second step is to combine all your debts into one monthly repayment. Sounds sensible doesn’t it?
Once your payments are up and running, we get to work negotiating with your creditors for you. Our aim is to get the charges and interest frozen on your accounts.
Of course, since your plan is tailored to suit you, it needs to be flexible. If you want to increase payments to clear your debt more quickly, we can make that happen as well.
Incase you’re wondering about the differences between an IVA and a Debt Management plan, here’s a quick explanation:
IVA’s are normally the best option for those with large debts of over 15K, as this agreement allows for up to 70% of the debt to be written off, and the remainder of the sum to be settled within 5 years or so.
The Debt Help Plan is suitable for those with less debt and based on agreeing on your lowest monthly payment required to keep your creditors happy.
Once we talk to you, we can advise you honestly which solution is best for you. From then on, with the plan in place, you can breath a big sigh of relief and enjoy some peace of mind! Simply fill in the form, and we’ll get in touch whenever suits you best.
Frequently Asked Debt Help Questions
How much will I have to pay?
You decide on our advice, on a single affordable monthly (or weekly)
payment
What do you do?
We negotiate with your unsecured credit companies to reduce your
monthly payment and request them to freeze or reduce their monthly
interest charges. We will then take a single monthly payment form
yourself and pay your creditors on your behalf. This will make managing
credit payments towards your far simpler.
How do I know I'm getting good advice?
We are Licensed under the 1974 Consumer Credit Act and, as such,
any debt management advice we give must be ethical and professional.
In addition, your questionnaire and financial circumstances will
be reviewed by our in-house Chartered Accountant, who has extensive
experience in the financial industry services. We also adhere to
the Data Protection act to ensure client confidentiality.
How do I know my debts are being paid?
We will apportion any payments received from you for distribution
between your creditors based on how much each is owed. We will issue
a statement showing how much each creditor will receive. This remains
fixed unless your circumstances change. We will also issue a quarterly
statement showing all transactions on your account. In addition
to this, you will still receive your statements from your creditors.We
distribute funds within a week of them clearing.
What is the charge for Debt Help?
As stated earlier, you will pay only one affordable monthly payment.
Included within this payment will be a 17.625% distribution or debt
management charge. Because most of our work for you will be done
at the start of the programme, we will retain the first monthly
payment to cover this costs. (i.e. it will not be initially used
to pay your creditors). Although your creditors will accept the payments being paid by IVA Advice Online, they may also wish to register your arrears of payments as a default notice with a credit reference agency. This will almost certainly stop you from obtaining future credit whilst you are paying back the debt you already have.