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Consumer Debt Consolidation

Consumer Debt Consolidation: The Best Way Out of your Debt (Without More Debt!)

Apply For The IVA or Debt Relief Plan For Your Own Circumstances

Independent Advice. No Bankruptcy. No loss of Dignity.

An IVA (Individual Voluntary Arrangement) is a form of consumer debt consolidation program set up by the government of the day to try to eliminate personal debt and to deal with the issue of individual insolvency.

The needs of one person can be vastly different from the needs of another person or household. Any consumer debt consolidation advice given must thus take into account the uniqueness of the situation people find themselves in.

Normally an IVA will be set to run for 60 months (sometimes less) and when this is complete all the debts are cleared from a person's credit history. During this time none of the banks are permitted to pursue or harass the debtor, although this cannot be guaranteed.

An instrument such as this will write off the larger part of your debt at the start of the programme (although beware of the exaggerated claims made in some advertising: it is seldom much more than 60 or 65% of total unsecured debt which can be 'written off'). Any decent debt consolidation advice will ensure you get the best results with the lowest repayments together with the highest proportion of debt written off at the outset.

So fill in the form for independent and impartial consumer debt consolidation advice which is right for your own situation.

If you have at least two accounts in debt, and total debts of £2,000 or more, use the form below to see if you qualify. (If you owe less than this, or are on state benefits, then use this link to apply.)



















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Please be aware that figures entered need to be accurate by law, and to give the best service to you. It is extremely important that you budget for all necessary expenditure including rent or mortgage, council tax and utility bills, etc., and any other necessary outgoings related to the upkeep of your household and inrelation to any specific circumstances that may relate to you. This website only collects data on behalf of debt management professionals, from which it will receive affiliate remuneration for data collection only and does not itself engage in any debt management services. Other debt management options are available and may be more suitable. People entering into an IVA or debt management will have this entered on their credit profile and this may affect their ability to get credit in the short term or even in the long term in some cases. It is free to apply from this website; you will be given advice by debt management professionals and a 'cooling off' period, by law, to decide whether or not the debt management plan is suitable for you, and you should be aware that a fee will be chargeable upon a successful arrangement, as with any commercial transaction. Failure to meet the repayments on an IVA or any debt management programme may result in serious consequences, including, but not limited to, bankruptcy. Bankruptcies, CCJs and similar defaults will be entered into a public register and will remain there for a statutory period of not less than six (6) years.

Consumer Credit Licence number 633327.

Consumer Debt Consolidation


Governments generally attempt to help people who suffer from insolvency in a number of ways. There are recognised schemes like CVAs and IVAs to facilitate the methods of both corporate and personal debt recovery and to try to palliate what has always been a difficult procedure, and clearly consumer debt consolidation is involved in this. The aim tends to be towards protecting personal assets wherever possible and in safeguarding the property of individuals by using statutory measures. This an arrangement applies to individual assets as much as the assets of corporations.

A number of disciplines have grown up surrounding the area of insolvent cases, and these include the legal sector and more recent professions including such diverse types as consultants. All such experts have their own strengths. Each one will have their own area of expertise which you should make use of to your advantage. Making use of consumer debt consolidation should ensure that the turnaround from insolvency is much easier.

In order to qualify for consumer debt consolidation the applicant must show proof of earnings in excess of a certain minimum and have arrears of not less than a certain amount and not more than a specified maxima, and such values will alter from one insolvency firm to another. Usually income should be proved to cover the calculated repayments after other bills have been met including the mortgage and fuel bills. The usual minimum amount of personal debt is around £2,000 although this may vary. A ceiling of £50,000 is given in a few cases, though by making use of a third party the applicant may be directed to appropriate source of help to look after their own situation.

Consumer debt consolidation is a useful legal instrument and most people would jump at the chance of entering into one because it is sanctioned by the law and releases the client from the entire debt when the term has been completed. This is a more benign resolution to an individual's debt problem than other more punitive measures such as making the debtor bankrupt and it carries no stigma.

An instrument of consumer debt consolidation such as an IVA will be usually prepared by a specialist and qualified insolvency practitioner and will be drafted especially to cover the specific requirements. There is no such thing as a typical attitude to these processes because every situation differs, and some situations are vastly different. The insolvency practitioner will then prepare the best features in accordance with the applicant's own individual situation and then ratify a programme of repayments to a central fund which is generally over 60 months, though in certain situations this can change.





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Take a look at the Insolvency Service's leaflet called 'In Debt', downloadable here.


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