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IVA – Alternative
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Find the solution to your debts
If you are feeling the stresses of debt, there is help available.
Call our debt helpline on 0845 519 6093 and speak to one of our debt experts.
Frequently Asked Questions (FAQs)
IVA – Alternative
We help hundreds of people every week to resolve their debt problems.
“Take your first step to financial freedom today! “
Our debt experts will talk you through all of the debt solutions available. Call today on 0845 519 6093 and talk to one of our friendly debt advisors.
IVA Alternatives
An Individual Voluntary Arrangement (IVA) is not the only debt solutions available if you are struggling with your finances and monthly payments, there are other alternatives, such as:
Debt Management Plans
A Debt Management Plan is an informal agreement between you and your creditors to repay your outstanding debts at a monthly rate you can afford. Debt Solutions will complete a full fact find to determine exactly what you can afford to repay every month.
For more information take a look at our Debt Management Plan page
For more information take a look at our Debt Management Plan page
Bankruptcy
Bankruptcy has always been considered that last resort if you are in financial difficulty as it has serious repercussions and you should be fully informed before looking at this option. Bankruptcy will seriously affect your credit rating. Bankruptcy will also put your property, personal effects and assets at risk.
For more information take a look at our Bankruptcy page
For more information take a look at our Bankruptcy page
Debt Consolidation Loan
Debt Consolidation loans are a great way to put all your creditors in to one monthly payment, but you must have a great credit history with no missed or late payments. If you do have an adverse credit history with missed and late payments then you will find it very difficult if not impossible to get a unsecured consolidation loan, so a Debt Management Plan or an IVA will be the better option. If you own a property and you have equity then you may be able to release equity by, a mortgage or a secured loan.
For more information take a look at our Debt Consolidation page
For more information take a look at our Debt Consolidation page
Protected Trust Deeds (PTD) Scotland Only
A Protected Trust Deed (PTD) is very similar to an Individual Voluntary Arrangement (IVA), but it is for residents of Scotland only and there are a few differences. A Protected Trust Deed (PTD) is a formal agreement between you and your creditors to repay them over a set period of time, normally 36 months. When your Protected Trust Deed (PTD) has been accepted, all creditors will Stop phone calls, letters, interest and charges.
For more information take a look at our Protected Trust Deed (PTD) page
For more information take a look at our Protected Trust Deed (PTD) page
Sequestration – Scotland Only
Sequestration is the Scottish equivalent of Bankruptcy and because it is similar it is a very serious solution and you must be fully informed before making your final decision
For more information take a look at our Sequestration page
For more information take a look at our Sequestration page
