Getting Out Of Debt In 3 Easy Steps…
Take your first step in becoming a Debt Dealer! Fill out our form with the requested contact information as accurately as possible to ensure contact.
Schedule a free consultation with a Resolution Manager to discover which solution is right for you.
Once you understand the options available to you, the decision to become a Debt Dealer is well within your control!
I.V.A. “Individual Voluntary Arrangement”
An IVA (Individual Voluntary Arrangement) is an agreement between you and your creditors that enables you to payback as much as your debt as you can, via affordable monthly payments. An IVA agreement may also write off a percentage of your debt depending on your situation.
How can an IVA get you on the road to becoming an official Debt Dealer?
Free of debt within 60 months
The average IVA has duration is five years (60 months). In some situations, an upfront settlement figure made towards your debts can see the length of an IVA reduced to less than five years.
No hidden fees or stipulations
Typically, any fees related to an IVA are the Supervisor’s fees and the Nominee’s fee. The fees mentioned are taken from your set monthly payment, not upfront or on top and are specified by your creditors.
Ensuring that every IVA proposal is strategically contemplated, resulting in the best outcome available to our Debt Dealers.
Write off a high % of your debt
Entering an IVA agreement suited to your monthly repayments can help write off (on average) between 40 – 70% of your debt. In some rare cases, this number could be as high as 90%!
When an IVA agreement is in place, your creditors are no longer able to take legal action against you – this means they can take no court action or enforce bailiff visits
Additional IVA payments may be offered to help retain certain assets such as vehicles. This should be discussed with your Solutions Manager.
How We Can Help
No matter how bad you feel that your debt situation is, Debt Dealers are proud to offer you a number of debt solutions and free advice. Our debt advisors will speak with you over the phone to match an appropriate solution for your personal situation.
Frequently Asked Questions
How long does an IVA last for?
The typical duration of an IVA is around 60 months (5 years). At the end of the IVA, the remaining debt figure would be written off. It is key to know that secured loans and court fines are excluded from an IVA.
What debts can be included in an IVA?
Arears that were previously secured against an asset that has been repossessed – incomplete payments on vehicle HP and Properties
Unsecured debts that have a CCJ (County Court Judgement) or attachment of earnings on the debt
Unsecured debts (credit cards, store cards, catalogues, pay day loans, unsecured loans, overdrafts, doorstep loans, charge cards, credit unions)
Debts from service providers from previous properties, previous suppliers e.g. digital TV, mobile phones, landline
Utility arrears from previous properties, previous suppliers e.g. gas, water, electricity
HM Revenue and Customs VAT, PAYE, Self assessed tax, National Insurance, Council Tax (previous years and current year if in arrears)
How will this affect my credit rating?
An IVA record will show on your credit rating for 6 years, starting from the IVA commencement date. You will not be allowed to borrow money whilst on an IVA. Once your IVA has ended, the credit reference agencies will be notified by your Insolvency Service. With a typical IVA duration of 5 years, this means the IVA record could show on your credit rating up to a year after the IVA completion. You may have difficulties borrowing money after an IVA has completed as you will be seen as high- risk by potential creditors. If accepted for credit, you would like be on a very high interest. However creating more debt after successfully paying off your previous debt may not be desirable.
Can I enter an IVA agreement with my partner?
There are circumstances in which two separate IVAs relating to partners or spouses can be linked to become intertwined IVAs. This is when each IVA is dependent on the other and they are linked together for practical reasons.
Before this can be evaluated, each individual has to apply separately for an IVA and receive their approval. We advise speaking to a Solutions Manager for more information.
Is there anything I can do to help the process?
Once you have requested a call back, we advise that you gather any paperwork relating to your debts. The more information that we have, the more effective we can be in making your debt free vision a reality!
Request a Call Back
We understand that dealing with financial issues can be stressful and consuming. Dedicating time to interact with Debt Dealers could help to make things simpler for you, in order to make the process of getting out of debt an achievable reality. A Resolution Manager will contact you to discuss your personal situation with the sole purpose of offering you the right solution.
In the UK, we have a staggering number of people facing debt problems with the average debt per household currently standing at around £57,490. It is thought that around 8.3 million households are facing serious problems with their debt.
Taking charge of your situation is vital. The understanding that you can overcome your debt problems is not only a powerful one, but entirely realistic. Interact with us at debtdealers.co.uk so we can help you to reinforce the key elements of becoming a Debt Dealer.
debtdealers.co.uk exists solely to connect those with financial issues with viable debt solutions. When in financial difficulty it can seem like there is no way out of a continuous circle of debt. debtdealers.co.uk are very proud to be in a position to connect those in debt with an opportunity to vastly improve their personal situation. We want you out of the red and in to the black.
debtdealers.co.uk aims to connect as many UK residents as possible with the chance to change their lives for the better. Our message is simple. If you have the will, we have the way.
Debtdealers.co.uk do not offer direct advice. Once you have completed our form, we will introduce you to one of our licensed debt solutions partners. We use the contact details you have given us on the form to make this introduction. A professional debt adviser will contact you by telephone. During that conversation the debt adviser will discuss your options in further detail. This will happen during the initial phone call and other subsequent communication it you chose to move forward.
All debt solutions are subject to eligibility and acceptance. Further conditions will apply and calls are recorded for your protection. Initial advice will always be free but as commercial companies, our partners do charge for on-going services. Any form of debt write off only applies on completion of the Insolvency Solution. In-depth details will be fully explained to you prior to entering into an agreement and different options may be offered, when considered to be in your best interest. Your ability to obtain credit will be affected for 6 years, even if the solution lasts for less and your assets and property could be at risk.
All debt solutions should always be considered very carefully. Debtdealers.co.uk will never charge for the service that we offer, however, if you enter into an Individual Voluntary Arrangement (IVA) with one of our affiliate Companies, then costs will apply, only once the IVA has been approved by the Insolvency Practitioner. Said costs will come out of the payments made into the IVA over the term, these are made clear by the advisers and also in documentation that you will receive. Debtdealers.co.uk partners are all authorised and regulated by the Financial Conduct Authority and comply with their rules and principles of business. It is likely that your ability to obtain credit will be affected for 6 years, even if the solution term is shorter than 6 years.