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Struggling with debt?Let us help you!

You’re not alone. Millions struggle with mounting debt, but there is a way out. At Advice Debt we specialise in the administration of individual voluntary arrangements (IVAs).

  • Stop Interest And Charges
  • Reduce Monthly Payments
  • 30 Years’ Experience
  • Protect your Assets
  • Stop Legal Action
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Not suitable in all circumstances, fees apply, your credit rating may be affected

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Subject to suitability and criteria. IVAs are available for people who live in England, Wales and Northern Ireland. Fees may apply, read here. Entering into an IVA will affect your credit rating. Find out more about the risks and benefits, read here.

Freeze Interest & Charges
Stop Creditor Contact
Protect your Home & Car
Potential Debt write off

*To find out more about managing your money and getting free advice, visit Money Helper, an independent service set up to help people manage their money.

  • Freeze Interest and Charges
  • Stop Creditor Contact
  • Protect your Home & Car
  • Potential Debt write off

Get information on the best ways to pay off your debts quickly and effectively.

At Advice Debt, we understand that debt can be a difficult and confusing issue to deal with. That’s why our team of advisers are here to provide you with confidential support.

We have years of experience helping people just like you get their finances back on track and will work tirelessly to help you achieve your goals.

Contact us today for a consultation and to discuss your eligibility for an IVA!

Individual Voluntary Arrangement (IVA)

An Individual Voluntary Arrangement (IVA) is a way for individuals to restructure their debt by making monthly payments with an agreed-upon amount over time typically over five years. The remaining debt is legally written off and individuals are legally protected from creditors for the duration of the five years. Interest and charges are frozen legally, and creditors cannot take any further action.

Advice Debt specialise in the administration of IVAs, however, should an IVA not be the right solution for you, or you do not qualify, we will refer you to an FCA regulated firm who can discuss all the options available to you!

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Protected Trust Deed (PTD)

A Protected Trust Deed (PTD) in Scotland is an agreement between you and your creditors that allows them to combine all of their unsecured debts into one affordable monthly payment which lasts typically for around three years. Once complete, the remaining debts will be legally written off. In the England the equivalent is called an Individual Voluntary arrangement (IVA).

Advice Debt specialise in the administration of IVAs, however, should an IVA not be the right solution for you, or you do not qualify, we will refer you to an FCA regulated firm who can discuss all the options available to you!

Check if you qualify

Debt Management Plan (DMP)

A Debt Management Plan (DMP) helps by combining your unsecured debts into one affordable monthly repayment. It’s suitable for non-priority debts like credit and store cards, overdrafts as well as unsecured loans.

Advice Debt specialise in the administration of IVAs, however, should an IVA not be the right solution for you, or you do not qualify, we will refer you to an FCA regulated firm who can discuss all the options available to you!

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Bankruptcy

Bankruptcy is a legal process where you can legally write off your debts. It’s available to residents living in England Wales and Northern Ireland – In Scotland, Bankruptcy is known as Sequestration.

Advice Debt specialise in the administration of IVAs, however, should an IVA not be the right solution for you, or you do not qualify, we will refer you to an FCA regulated firm who can discuss all the options available to you!

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Debt Relief Order (DRO)

A Debt Relief Order (DRO) is a formal insolvency process which results in all your qualifying debts being written off. On the 6th April 2024, the government announced in their budget that they have removed the fee to apply for a DRO which had been £90 previously. This means you do not need to make any payments toward your creditors where you qualify and enter into this solution.

Your debts are placed on hold for 12 months before being written off. Only the debts included in the order can be written off so it is important you know who you owe money to.

In order to qualify for a DRO you must not be a homeowner, not have assets worth more than £2000 and not own a vehicle worth more than £4000. You must not have more than £50,000 of outstanding debts and must have less than £75 disposable income each month. 

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Not suitable in all circumstances, fees apply, your credit rating may be affected

Committed to assist individuals who find themselves in financial difficulty

Start with taking the steps below

Step 1

Complete our Online Form

Private & Confidential

Our form is user-friendly and is easy to complete.

Check if you qualify

Step 2

Talk to the Experts

Help without judgement

Tell us about your situation and we will answer any questions you may have.

Get in touch

Step 3

Take Action today

No obligation service

We know dealing with debts can be daunting, but by speaking with us we can provide you with all the details you need to make an informed decision.

Check if you qualify

Not suitable in all circumstances, fees apply, your credit rating may be affected

Example

All IVA’s look different. This example is for illustration purposes only.

Before IVA

This is an example of the debt you may owe

Total Monthly Payment £685
Bank Loans £4,000
Short Term Loans £2,500
Catalogues £2,150
Phone Bills £500
Credit Cards £4,000
Store Cards £1,500
Overdraft £1,170

After IVA

This is an example of the savings you could make

Total Monthly Payment £125
Payments reduced by 82%
Check if you qualify

Not suitable in all circumstances, fees apply, your credit rating may be effected

Fully secure, private and confidential.

"How do I qualify?"

An Individual Voluntary Arrangement is a legally binding solution within England, Wales and Northern Ireland which helps protect you from your creditors and allows you to pay back what you can afford and not what your creditors demand.

  • Have a minimum debt level of £6,000
  • Have at least two lines of credit.
  • Have a regular monthly income.

IVA Calculator - how much debt can you write off?

Struggling with too much debt? An Individual Voluntary Arrangement (IVA) could be the solution! This type of arrangement enables you to clear a portion of your unsecured debts and get back on track.

The IVA calculator below provides an estimate based off Advice Debt customer averages – simply enter some details and find out how much debt can be written off right away.

Reclaim control over your financial stability today!

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This example is for guidance purposes only as IVA payments are based on affordability. 61% debt write-off is realistic based on Advice Debt clients in 2022.

Advice Debt Frequently Asked Questions

Commonly asked questions from our clients, answered.

Will you contact my employer?
Absolutely not, we will never contact your employer to discuss your personal affairs or your family or friends for that matter.
Will my property be at risk?
Your assets, including a property are usually protected within an IVA. However, your property can be treated in a number of ways, for example, you may be asked to release equity from your property in year 5 of your IVA, but if you’re not able to do this your IVA might be extended for a further 12 months. Call us for advice about how your property will be treated in an IVA.
Will I lose my car on finance with your help?
We understand you need the car to get to work or pick the children up from school, keeping the car is a priority for us. In most cases clients are still able to keep the car if you maintain the contractual payments on the agreement.
What if I don’t know who I owe money to?
Don’t worry if you don’t know, with your consent, we can carry out a soft credit search for you that will provide us all off your creditor information even with your reference/account numbers to. A soft search is only visible to you and not the companies looking at your credit file.
What information do I need for debt help?
We will need some personal details from you, we will then complete an income and expenditure and discuss the creditors you owe money to so we can gain a full understanding of your situation.
Will this affect my credit score?
Your credit score will be affected for 6 years from the date of your IVA being approved. Any debt solution will have a negative impact on your credit rating. Things such as defaults, missed payments or CCJs are recorded on your credit profile for 6 years too.

Got a different question?

We can help you.

We all know how difficult it can be when facing financial difficulties. That’s why we are here for you. Our advisers will listen to your concerns and can provide information on the debt solutions available. We specialise in individual voluntary arrangements and you can find more about them on our website.

Complete the form

Not suitable in all circumstances, fees apply, your credit rating may be affected

Advice Debt Top Tips

Do I really need to buy this?
Avoiding debt can be a challenge in our modern world, where it's easy to get overwhelmed by all the temptations of spending. To stay on track with your finances, take some extra time before big purchases and ask yourself if you truly need that item.
Make budgeting a good habit
Mapping out and keeping track of your spending is essential for financial stability and success. Developing a budget can help you save money, recognize potential overspending habits before they start, as well as protect against unexpected expenses. Mastering the practice of creating an effective budget plan will go long way in helping to improve your overall credit rating.
Knowing your credit score
An excellent credit score is essential for any individual looking to access financial assistance. Without this metric, lenders may deny borrowers mortgages, car loans and other financing options; even something as simple as a phone contract could come at an immense price with the wrong rating. Therefore, it's important that you understand how your credit score can impact your life in various ways - from getting approved for major purchases to making sure you are paying reasonable costs on everyday transactions.
Borrow or save?
Deciding whether to save or borrow can be a difficult choice that carries lasting consequences. Saving may mean having less cash on hand in the present, but potentially avoids financial trouble down the road. Conversely, borrowing provides quick access to funds now; however if payments are not made in full and on time it could create prolonged problems with debt repayment. Ultimately, saving is often considered the safer option for making major purchases.
Have I checked the interest rates?
Before taking the plunge and borrowing money, take a look at that all-important APR. Keep in mind interest rates can vary dramatically - so make sure you research what sort of additional cost is involved with taking out your loan to ensure it fits within your budget!
Switching your credit card
Take advantage of low-interest credit cards to save yourself some money! Doing the research, you may even find a card with 0% APR - however this won't last forever. Make sure that if you switch providers and get one at zero percent interest, make it your priority to pay off debt during that period or else once it ends, interest rates will be added in full force.
Saving for a rainy day
Don't let debt be a factor in your future plans. A smart money move is to start putting away just a little bit each week - every penny counts! For example, squirreling £5 per week adds up over time; by the end of one year you'll have saved an impressive total of £260 (and if placed into savings that could grow even more!).
Don’t bury your head in the sand
Don't let your dilemma fester. If you find yourself in trouble, seek out professional advice to get back on track. Advice debt services are well-equipped with experts who specialise in helping people resolve issues quickly and discreetly – so don’t hesitate to reach out for guidance!
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Not suitable in all circumstances, fees apply, your credit rating may be affected

You're not alone

UK Debt Increases with Cost of Living

You are not alone in your situation and recent statistics show that the UK debt level has increased by £63.7 billion between 2020 and 2021 – but there is help out there for anybody struggling.

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Our team of experts help thousands of families every year across the UK get their finances back on track.

Based on over 2200 customers being supported from January 2024 to September 2024

Is an IVA right for you?

We can discuss your eligibility for an IVA

Enquire today

Prefer to speak later?

We will offer guidance, support and a solution at a time that suits you.

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Open 8am to 8pm Mon - Fri
Sun 10am to 4pm

0333 339 7212

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To Qualify for debt-write off in an IVA or Trust deed, you must have a minimum of £6000 of qualifying unsecured debt owed to two or more creditors. A debt write off amount between 25% & 75% is realistic, however the debt write-off amount for each customer differs depending upon their circumstances and is subject to the approval of their creditors.

Check if you qualify
Check if you qualify

Open Mon - Fri 10am to 7pm
Sat 10am to 3pm

0333 339 7212

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