Tag Archives: iva

The #debthour debt clinic – Monday 12th August

posted by in #Debt Hour, Debt 17 Comments

who's your favourite tasty tweeter?

Don’t be shy!

Last week saw us kick-off our first #debthour clinic where we answered your burning debt and money questions live, right here on the blog. If you missed it, fret not!

Every Monday during August* our friendly debt geeks will be on hand to answer your debt questions.

We aim to reply to every question straightaway. No debt question is too outlandish for us, so this is the perfect opportunity to clear up any worries you may have.
Recent questions we’ve answered include…

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IVA versus bankruptcy – which form of insolvency is best for me?

posted by in Bankruptcy, Debt, IVA 1 Comment

UPDATE: the bankruptcy application process for people living in England, Wales and Northern Ireland is changing in 2016. Visit our bankruptcy changes page for more information

This page contains information about debt solutions available in England, Wales and Northern Ireland. Debt advice in Scotland involves similar but different solutions. Before considering an IVA as a debt solution, please make sure you fully understand the risks involved. More information can be found on our website

Working it all out

Working it all out

With some financial situations you may have more than one option for resolving your debt. We’ve all heard of personal bankruptcy and many of us have now heard of an individual voluntary arrangement or IVA.

They’re both forms of insolvency and in some situations it can be a choice between these two debt solutions. But, what you really want to know is this: which is best for you?

Well, both solutions will get you debt free, we regularly recommend both solutions and support those clients through their IVA or bankruptcy. It really comes down to your individual circumstances and what the best advice is.

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Redundancy and your IVA

posted by in IVA, Redundancy 1 Comment

This page contains information about debt solutions available in England, Wales and Northern Ireland. Debt advice in Scotland involves similar but different solutions. Before considering an IVA as a debt solution, please make sure you fully understand the risks involved when entering an IVA.

Redundancy and IVAs

Redundancy is tough, but we can help you

The economy hasn’t been in great shape since 2007 and unfortunately redundancy continues to be common in some industries.

If you’re on an IVA and have been made redundant we still want to make sure your IVA is successful and you become debt free.

If you’ve received a redundancy payment then there could be some other options to consider, we’ll help you work out your options. Continue reading »

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What constitutes credit on an IVA?

posted by in IVA 5 Comments

This page contains information about debt solutions available in England, Wales and Northern Ireland. Debt advice in Scotland involves similar but different solutions. If you are considering an IVA as a debt solution, please ensure that you fully understand the risks involved when entering an IVA.

What counts as credit?

Are these “credit”?

We all know that as part of the terms and conditions of your IVA proposal you should avoid taking out further credit.

We’d discourage any form of borrowing at all, but you can’t borrow more than £500 without your supervisor’s permission in writing.

But what constitutes “credit”? Let’s investigate… Continue reading »

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How will benefits changes in 2013 affect my IVA?

posted by in IVA, Welfare Benefits Leave a comment

This page contains information about debt solutions available in England, Wales and Northern Ireland. Debt advice in Scotland involves similar but different solutions. Before considering an IVA as a debt solution, you must make sure you fully understand the risks involved. Please visit our website for more information.

Benefit changes and your IVA

Benefit changes and your IVA

The news is full of stories about changes to the benefits system this year. It can be quite hard to find reliable information about what the changes will mean in practice.

If you’re on an IVA then it can be even more worrying, as changes to your income may make it harder to keep the IVA going. We’ve already covered details of the benefit changes coming in 2013 but what happens if you’re on an IVA and are affected by these?

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What does debt transfer mean for my IVA?

posted by in Debt Law, IVA Leave a comment

This article contains information about debt solutions available in England, Wales and Northern Ireland. Debt advice in Scotland involves similar but different solutions. If you are considering an IVA as a debt solution, it’s very important that you fully understand the risks involved. Please visit our website for more information.

Debt collectors could buy your debt.

Debt collectors probably look a bit better than this

Once your IVA is approved it’s part of the deal that your creditors should no longer contact you. You might get a few phone calls and letters at first as it can sometimes take a couple of months for creditors to update their systems.

After a while the IVA should be running smoothly and the phone lines should go quiet again. Once a year creditors will send you an annual statement. This is nothing to worry about and you should keep this for your records.

You can find out more about the pros and cons of IVAs on our website.

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I’m on an IVA but creditors keep contacting me!

posted by in IVA Leave a comment

This article contains information about debt solutions available in England, Wales and Northern Ireland. Scotland residents have a similar debt solution known as a protected trust deed. Before considering an IVA as a debt solution, please make sure you fully understand the risks involved when entering an IVA.

Still getting calls?

Still getting calls?

One of the pluses of choosing an IVA as a debt solution is that once it’s approved creditors can no longer make contact with you to chase the debt.

After all you’ve entered a legal agreement that creditors have approved in order to repay a percentage of what’s owed based on what you can afford.

So why do you still get phone calls and letters from some creditors? Continue reading »

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