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UTILITY BILLS
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PERSONAL BILLS
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GAMBLING DEBT
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STORE CARDS
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OVERDRAFT
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CREDIT CARDS
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BUSINESS LOANS
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PAYDAY LOANS
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UNSECURED LOAN
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There Are Solutions Available For The Following Debt:
There Are Solutions Available For The Following Debts:
*Please note that fees may apply for certain debt solutions. Details of these fees will be provided by the third-party service provider*
*Please note that fees may apply for certain debt solutions. Details of these fees will be provided by the third-party service provider*
Four Easy Steps To A Peaceful Life
Fill Out The Form
Answer a few simple questions so we can better understand your situation.
Speak To A Debt Specialist
Speak to one of our friendly debt specialists who will your discuss options in a non judgmental way with you based on your answers.
Make A Decision
From here, you can make a decision based on the options provided. Our debt specialists will help you every step of the way.
Live A Stress-Free Life
Now live life the way you were supposed to. Less debt and less stress.
Credit Solve Ltd is a company in the UK that specialises in providing information on debt and consolidation, catering to individuals who are facing financial challenges.
A range of solutions are available, including Individual Voluntary Arrangements (IVA), Trust Deeds and Debt Management Plans. Our primary objective is to support a large number of people in conquering their debts and attaining a more content and secure life for themselves and their families.
We recognise the burden of pressure, stress, and embarrassment that often accompanies financial struggles, and want to assure you that you are not alone on this journey.
We do not provide advice or give any recommendations, we purely give information on debt solutions, if you fit the criteria with your consent we will pass you through to our FCA regulated partner who will complete a full advice call with you.
While we strive to provide accurate information, we are not qualified to offer financial advice.
We adhere to strict advertising standards to ensure trasnparnecy and fairness in our lead generation practices.
About Our Business
What Is An IVA (Individual Voluntary Agreement)
An IVA is a form of insolvency that allows you to write off unsecured debt and is an alternative to bankruptcy.
You’ll make a single monthly payment based on your affordability which is then divided between the people you owe money to. All interest and fees associated with any debts included within the IVA will be frozen and creditors can’t contact or take any further action against you.
At the end of the IVA term any remaining debts will be written off.
Can Creditors Still Contact Me If I Am In An IVA?
Once you enter an IVA, creditors can take no further action against you and can’t contact you directly.
FREQUENTLY ASKED QUESTIONS
1. How long does an IVA last?
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Typically, an IVA lasts for five to six years, during which you make regular payments towards your debts. At the end of this period, any remaining debts included in the IVA are typically written off.
2. Can I include all my debts in an IVA?
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Yes, most unsecured debts can be included in an IVA, including credit cards, personal loans, overdrafts, utility bill arrears, and more. However, certain debts such as secured loans or court fines cannot be included.
3. Will I need to sell my assets in an IVA?
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In most cases, you won't need to sell your assets like your home or car to enter into an IVA. However, if you have significant equity in your property or valuable assets, you may be required to release some of this equity to contribute towards your debts.
4. Can I still use credit while in an IVA?
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While in an IVA, you're typically not allowed to take out further credit without the permission of your insolvency practitioner. Using credit without permission could be a breach of your agreement and may have legal consequences.
5. What happens if I miss payments in an IVA or DMP?
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If you miss payments in an IVA or DMP, it could lead to serious consequences, including the failure of the arrangement. It's essential to keep up with your agreed payments to ensure the success of your debt solution.
6. Are there alternatives to an IVA or DMP?
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Yes, there are various debt solutions available, including bankruptcy, debt relief orders (DROs), and informal repayment plans. The most suitable option depends on your financial circumstances and the severity of your debts.
7. How will entering into an IVA or DMP affect my day-to-day finances?
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Entering into an IVA or DMP may affect your budget and spending habits. It's essential to work closely with your debt advisor to understand how your finances will be managed during the arrangement and to ensure you can afford the agreed payments.
8. Can I cancel an IVA or DMP once it's started?
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While it's possible to cancel a DMP at any time without penalty, canceling an IVA can be more complex and may have financial implications. It's crucial to seek advice from your insolvency practitioner before making any decisions.
What is an IVA?
An individual voluntary arrangement (IVA) is a formal and legally binding agreement between you and your creditors to pay back your debts over a period of time. This means it’s approved by the court and your creditors have to stick to it.
While you have an IVA your creditors should stop:
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Freezing of interest and charges on your debts
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Legal actions, including those from bailiffs or creditors, are halted
freeze all interest and charges
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Reduce down your payments into one affordable amount
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Clear endpoint to becoming debt-free
During your IVA journey, it's important to:
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Make agreed payments, usually a single monthly installment based on what you can afford
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Inform your IVA provider of any changes in your circumstances
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Seek permission from your Insolvency Practitioner before applying for further credit
An IVA must be set up by a qualified individual known as an Insolvency Practitioner. The insolvency practitioner will charge fees for the IVA.
When considering an Individual Voluntary Arrangement (IVA), individuals should keep in mind:
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Credit Rating: Be aware that entering into an IVA will negatively impact your credit rating and may affect your ability to obtain credit in the future.
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Affordability: Assess whether you can afford the proposed monthly payments over the agreed-upon period.
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Long-Term Impact: Consider the long-term implications of an IVA on your financial future, including potential restrictions on borrowing and homeownership.
When considering an Individual Voluntary Arrangement (IVA), individuals should keep in mind:
-
Credit Rating: Be aware that entering into an IVA will negatively impact your credit rating and may affect your ability to obtain credit in the future.
-
Financial Situation: Understand your income, expenses, and total debt to ensure an IVA is the right option for your circumstances.
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Affordability: Assess whether you can afford the proposed monthly payments over the agreed-upon period.
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Long-Term Impact: Consider the long-term implications of an IVA on your financial future, including potential restrictions on borrowing and homeownership.
What is an DMP?
A DMP is an informal agreement between you and your creditors to pay back your debts. You pay back the debt by one monthly payment based on your affordability which is divided between your creditors.
Most Debt Management Plan's (DMPs) are managed by a DMP provider who deals with your creditors for you. This means you don't need to deal with your creditors yourself.
A DMP is not legally binding, meaning you're not tied in for a minimum period and can cancel it at any time.
Is a DMP right for you?
A DMP may be a good option if the following apply to you:
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You can afford your living costs and have a way to deal with any priority debts, but you're struggling to keep up with your credit cards and loans
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You’d like someone to deal with your creditors for you
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Making one set monthly payment will help you to budget.
However, you need to be sure you understand the impact a DMP will have:
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It may take longer to pay back your debt as you will pay a reduced amount back (However a DMP is flexible & can increase payments if affordability improves)
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Your creditors won’t necessarily freeze the interest and charges on your debts, so the amount you owe might go down by less than you think
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Your DMP provider might charge you a fee, although there are several free providers you can use so there’s no need to pay if you don’t want to
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your creditors might refuse to co-operate or continue to contact you
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the DMP may show on your credit record, making it harder for you to get credit in the future.
Is a DMP right for you?
A DMP may be a good option if the following apply to you:
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you can afford your living costs and have a way to deal with any priority debts, but you're struggling to keep up with your credit cards and loans
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you’d like someone to deal with your creditors for you
-
making one set monthly payment will help you to budget.
However, you need to be sure you understand the impact a DMP will have:
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it may take longer to pay back your debt because you'll be paying less each month
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your creditors won’t necessarily freeze the interest and charges on your debts, so the amount you owe might go down by less than you think
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your DMP provider might charge you a fee, although there are several free providers you can use so there’s no need to pay if you don’t want to
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your creditors might refuse to co-operate or continue to contact you
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the DMP may show on your credit record, making it harder for you to get credit in the future.
Is a DMP right for you?
A DMP may be a good option if the following apply to you:
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you can afford your living costs and have a way to deal with any priority debts, but you're struggling to keep up with your credit cards and loans
-
you’d like someone to deal with your creditors for you
-
making one set monthly payment will help you to budget.
However, you need to be sure you understand the impact a DMP will have:
-
it may take longer to pay back your debt because you'll be paying less each month
-
your creditors won’t necessarily freeze the interest and charges on your debts, so the amount you owe might go down by less than you think
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your DMP provider might charge you a fee, although there are several free providers you can use so there’s no need to pay if you don’t want to
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your creditors might refuse to co-operate or continue to contact you
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the DMP may show on your credit record, making it harder for you to get credit in the future.
Credit Solve
Tel. 0345 6461515
5300 Lakeside,
Cheadle,
SK8 3GP
Credit Solve is a free resource providing information on Individual Voluntary Arrangements (IVAs) and Debt Management Plans (DMPs). Upon completing a fact-find, if suitable for an IVA or DMP, you may opt for a referral to an FCA regulated firm for tailored advice. There's no obligation to proceed, and you're free to explore other services. While our information is free, fees may apply for setting up and managing an IVA or DMP. For free sources of debt help and advice, you can visit MoneyHelper.
Tel. 0345 6461515
5300 Lakeside,
Cheadle,
SK8 3GP
FREQUENT ASKED QUESTIONS
What Is An IVA (Individual Voluntary Agreement)
An IVA is a form of insolvency that allows you to write off unsecured debt and is an alternative to bankruptcy.
You’ll make a single monthly payment based on your affordability which is then divided between the people you owe money to. All interest and fees associated with any debts included within the IVA will be frozen and creditors can’t contact or take any further action against you.
At the end of the IVA term any remaining debts will be written off.
Can Creditors Still Contact Me If I Am In An IVA?
Once you enter an IVA, creditors can take no further action against you and can’t contact you directly.
Can An IVA Affect My Credit Score?
Yes, an IVA will have an impact on your credit rating as it will show on your credit report for six years after it has been approved.
However, it’s important to note this is the case for most debt solutions and your credit score will likely already have been affected by being in debt in the first place.
Once your IVA is complete you will be given a fresh start to begin rebuilding your credit rating.
When considering an Individual Voluntary Arrangement (IVA), individuals should keep in mind:
-
Credit Rating: Be aware that entering into an IVA will negatively impact your credit rating and may affect your ability to obtain credit in the future.
-
Financial Situation: Understand your income, expenses, and total debt to ensure an IVA is the right option for your circumstances.
-
Affordability: Assess whether you can afford the proposed monthly payments over the agreed-upon period.
-
Long-Term Impact: Consider the long-term implications of an IVA on your financial future, including potential restrictions on borrowing and homeownership.
-
Commitment: Understand that an IVA is a legally binding agreement, and failure to meet the terms could lead to further financial difficulties, including bankruptcy.
Is An IVA Suitable For Me?
An Individual Voluntary Arrangement (IVA) is a formal debt solution that creates a legally binding agreement between you and the people you owe money to.
You may decide to enter an IVA if you’re struggling to repay the total amount of unsecured debt you currently have but can repay some.
FREQUENT ASKED QUESTIONS
What Is An IVA (Individual Voluntary Agreement)
An IVA is a form of insolvency that allows you to write off unsecured debt and is an alternative to bankruptcy.
You’ll make a single monthly payment based on your affordability which is then divided between the people you owe money to. All interest and fees associated with any debts included within the IVA will be frozen and creditors can’t contact or take any further action against you.
At the end of the IVA term any remaining debts will be written off.
Can Creditors Still Contact Me If I Am In An IVA?
Once you enter an IVA, creditors can take no further action against you and can’t contact you directly.
Can An IVA Affect My Credit Score?
Yes, an IVA will have an impact on your credit rating as it will show on your credit report for six years after it has been approved.
However, it’s important to note this is the case for most debt solutions and your credit score will likely already have been affected by being in debt in the first place.
Once your IVA is complete you will be given a fresh start to begin rebuilding your credit rating.
When considering an Individual Voluntary Arrangement (IVA), individuals should keep in mind:
-
Credit Rating: Be aware that entering into an IVA will negatively impact your credit rating and may affect your ability to obtain credit in the future.
-
Financial Situation: Understand your income, expenses, and total debt to ensure an IVA is the right option for your circumstances.
-
Affordability: Assess whether you can afford the proposed monthly payments over the agreed-upon period.
-
Long-Term Impact: Consider the long-term implications of an IVA on your financial future, including potential restrictions on borrowing and homeownership.
-
Commitment: Understand that an IVA is a legally binding agreement, and failure to meet the terms could lead to further financial difficulties, including bankruptcy.
Is An IVA Suitable For Me?
An Individual Voluntary Arrangement (IVA) is a formal debt solution that creates a legally binding agreement between you and the people you owe money to.
You may decide to enter an IVA if you’re struggling to repay the total amount of unsecured debt you currently have but can repay some.