Debt Help
Many people contact The UK Insolvency Helpline looking for debt help.
Money Advice Direct is an established provider of money advice for people with serious debt problems.
We offer tailor made debt help based on your individuals requirements. The Service has been established for over 10 years offering debt help to tens of thousands of people seeking debt help for their debt problems.
The debt help offered by the debt help advisors is available all year round. Our advice is totally confidential and we are aim to be a trusted source of debt help for the public.
When we are approached for debt help, we carry our a personal credit and assessment of the persons finances. We will then use our specialist debt help knowledge to find the best range if solutions available.
One solution which is growing more popular, both with debtors and creditors an IVA (or Individual Voluntary Arrangement). To qualify for an IVA as a debt help solution, the individual must owe at least £15000 to at least 3 separate organisations. In addition they must be able to afford at least £200 per month for a 5 year period.
The advantage of an IVA is it allows you to pay back a proportion of your debts in a realistic time period and most importantly at a level the person can easily afford.
An IVA usually lasts for a period of five years At the end of the period the balance remaining on your debts is written off by your creditors, and you are completely debt free (subject to terms and conditions). Using the IVA as a method of debt help removed the disadvantages of bankruptcy, such as not being able to act as a company director or being publicly examined in court. Click here to read more about IVAs.
Other methods of debt help that can be utlised can be credit industry approved debt management plans. Whereas an IVA is a legally binding agreement, a debt management plan is more informal so there is no guarantee your creditors will accept you debt help plan.
Please note that if we may recommend a credit industry debt management plan as being the best debt help act in your best interests. Learn more about Debt Management here.
Other Debt Help Solutions
If your need a consider re-mortgaging, bankruptcy or a consolidation loan as alternative debt help solutions we can also discuss these too.
Please note that we always identify the best debt help solutions for each client through our trained advisers.
If you need debt help please call call us free today on 0800 074 6918.
IVA's
The IVA Guide
Money Advice Direct has put together an IVA Guide based on the enquiries and questions that we receive at our helpline offices.
In the guide we cover such subjects as IVA Approval, early settlment of your IVA, missed IVA payments, IVA failure, additional debt claims and much more.
[click here for IVA Guide]
What is an IVA?
The IVA is an extremely powerful tool enabling you to clear your debt and return to a clean financial bill of health. Visit Money Advice Direct's Guide to Individual Voluntary Arrangements (IVAs).
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DANGER
Due to the tremendous demand for debt consolidation services the United Kingdom is now overloaded with debt management companies that contain misleading information. [more...]