What is a Debt Relief Order?
A Debt Relief Order is a formal insolvency procedure to help you deal with debts you can’t afford to repay. It can be a cheaper alternative to some of the most popular debt solutions available on the market, such as an Individual Voluntary Arrangement (IVA) or bankruptcy. It can prevent you from having to pay certain debts […]
How long does an IVA last?
Individual Voluntary Arrangements (or IVAs) can help you get your finances back on track by making regular monthly payments to your creditors (lenders you owe money to) until your debts are cleared for a brighter financial future. It is a popular debt solution for people struggling to pay their debts with agreed payments, such as a […]
How to get a default removed from your credit file
If you have received a default notice, it means you have missed loan payments and broken the terms of your credit agreement with your creditor legally obliged to inform you of any missed payments in writing. If you are unable to cover the missed payments or arrange payment within 14 days, you run the risk […]
Do I need to declare an IVA after 6 years to get a mortgage?
An Individual Voluntary Arrangement (IVA) can help you repay your debts through affordable, monthly payments but it can also make it difficult to get a mortgage. This is because, when assessing your mortgage application, mortgage lenders will check your credit history for evidence of a debt solution. If they find an active or past IVA, this can […]
IVA pros and cons
An Individual Voluntary Arrangement is the most popular debt solution available in the UK and has helped hundreds of thousands of thousands of people manage their unaffordable debt. Like all debt solutions, however, there are advantages and disadvantages of using an IVA to deal with your debts. Below, we outline your IVA pros and cons. What is […]
What happens when you hide money from an IVA
As a legally binding agreement between you and your creditors, it’s important that you declare all of your income if you choose to use an Individual Voluntary Arrangement to repay your debts. Hiding money from IVAs can lead to serious consequences. In this guide we’ll explore the idea of hiding money from an IVA, including how you […]
Can bailiffs take my belongings for someone else’s debt?
One of the reasons people are so wary of dealing with bailiffs or enforcement agents is that they want to protect their families from that situation. It can be a traumatic situation, especially because so many people aren’t sure what their rights are and what bailiffs can take. In this guide we’ll explore your rights if you […]
How to apply for government crisis loan online
Now that living costs are rising in the UK, many families around the country are being driven to crisis point. The situation is especially serious for those who were already struggling to make ends meet, so it’s understandable if you’re now wondering what additional financial support is out there. In this article we’ll examine government […]
Can I get a joint mortgage with an IVA?
An Individual Voluntary Arrangement takes up the vast majority of a person’s disposable income, so it’s no surprise that people with an IVA may wonder whether it’s possible for them to get a mortgage with their partner during an IVA. This is known as a joint mortgage. In this article we’ll explore IVAs and joint mortgages more […]
Can I get a loan with an IVA?
When you enter an Individual Voluntary Arrangement, also known as an IVA, you must adhere to certain rules when it comes taking out further credit such as credit cards or loans. An IVA is a formal agreement between you and the people you owe money to, known as creditors, that allows you to repay a percentage […]
