Debt Information

A Debt Management Plan in the UK can last anywhere from a few months to over ten years, depending largely on your debt size, repayment ability, and various other factors. Read on to learn more…

It normally takes between two to three weeks to set up a Debt Management Plan (DMP), once you’ve given your DMP provider all of them information they require. However, this timeframe can vary significantly depending on your personal circumstances. Let me explain…

A Debt Relief Order (DRO) can provide a lifeline for individuals meeting certain criteria, offering a path to eliminating their debts. Read on to learn from authentic DRO reviews and get answers to your burning questions.

An IVA completion certificate verifies that your IVA has ended and your debts have been written off. You will likely need this certificate when you apply for credit in the future. Let me explain…

An official receiver goes back up to five years before your bankruptcy. It will investigate any assets you have distributed or sold. Let me walk you through the process…

It is possible to end your IVA early, even if it’s been extended to 6 years. To do so, you could negotiate the terms of your IVA, or sell an asset. Let me walk you through your options…

If you stop paying your IVA without any justifiable reason, it’s very likely that your IVA will fail. To prevent this from happening, you should contact your IP to discuss your situation. Let me walk you through your options…

An IVA will last on your credit report for six years, starting from the approval date. If you finish the IVA before the six years is up, it will be marked as ‘complete’ on your credit report but will continue to negatively affect your credit rating. Let me explain…

After a year of being on a Debt Relief Order (DRO), any remaining debts covered by the DRO are generally wiped out, offering you freedom from debt. Intrigued? Read on to discover more.

IVA users need to know about the completely legal IVA loopholes that could make their lives easier. Discover real IVA loopholes with me here…

Entering into an IVA significantly restricts your ability to take out a credit card. But, if credit is a necessity, there are some options available to you. Let me walk you through them…

An IVA can stop a CCJ. After signing an IVA agreement, your creditors are no longer able to chase you for the debt. But, for your IVA proposal to be accepted, it needs to be considered appropriate by at least 75% of your creditors. Let me walk you through the process…

Student loans aren’t included in bankruptcy. But, you could get your student debt written off using other methods. Let me walk you through your options…

Getting a loan after an IVA can be difficult. This is because an IVA remains on your credit report for 6 years, regardless of when it ended. But, you may be able to get a loan from a specialised lender. Let me explain…

An IVA final review is conducted to decide whether to end the IVA or continue it for another year. In preparation for the final review, you should make sure that your bank statements, payslips, tax forms, and wealth statement are all in order. Let me walk you through the process…

Hiding money from an IVA is a bad idea. There is a high probability that you will get caught and face further financial difficulty. Let me explain…

There are a few tell-tale signs that indicate you are being mis-sold an IVA. For example, if the creditor doesn’t make the terms and conditions of the IVA clear, or there seems to be excessive fees and extra charges involved. Let me explain…

After your IVA has failed, your creditors are able to take legal action against you. To avoid bankruptcy, you should contact your creditors as soon as possible to discuss your options. Let me walk you through the process…

Debt Relief Orders (DROs) usually last for a year. But, a DRO will remain on your credit report for 6 years and could affect any future applications for credit. Let me explain…

If you receive inheritance when you have an IVA in place, the money will be used to pay off your debt. But, the situation is slightly more complicated if you receive inheritance before committing to an IVA. Let me explain…

A Debt Management Plan (DMP) is an informal agreement between you and your creditors, stating that you will make reduced monthly repayments towards your debt. DMPs are a popular debt solution in the UK, but they aren’t right for everyone. Let me walk you through the pros and cons…

A creditor could refuse an IVA for a number of reasons. Perhaps your proposed budget was deemed unrealistic, or maybe you just provided incorrect information. Let me walk you through your options…

It is possible to get a credit card whilst on a Debt Management Plan. But, it is considered a high-risk decision. Let me walk you through your options…

The primary drawbacks of a trust deed include potential impacts on your credit rating, restrictions on obtaining future loans, and potential risk to your assets. Keep reading to fully understand…

An IVA proposal will be rejected when less than 75% of the creditors vote to approve it. But, reputable debt charities and companies usually boast a low IVA rejection rates. Let me walk you the process…

There is no easy way to get out of a Trust Deed. If you can’t pay, the Trust Deed may fail, which could result in losing your belongings. Let me walk you through your options…

If you have an IVA, it’s vital that you abide by the spending restrictions. But, that doesn’t mean that you can’t enjoy yourself from time to time. Let me explain…

It is possible to sell your house whilst in a Trust Deed. However, you can only do so if your trustee agrees. Let me walk you through your options…

If you go bankrupt, your wages will be affected. If you have more than £20 disposable income each month from your wages, you may be asked to make payments towards your debt under an Income Payments Agreement (IPA). Let me walk you through the process…