Latest Articles

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IVA LIFE STORIES - I almost messed up my IVA - Sonia’s  story 

After my car died I was left with no choice but to get out a short term bank loan for £3000.00. Once I had been accepted I naive... Read more
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IVA LIFE STORIES - one year in – Rachael’s story

Unfortunately when I was with my husband we ran up a lot of debt due to his overspending and most of the debts were in my name due to his poor cred... Read more
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IVA LIFE STORIES - a sense of helplessness - Yuri’s story

There were many different reasons for my need for an IVA.  Change of job and relocation were two of the big ones.  Miscalculation o... Read more
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IVA LIFE STORIES - When things go wrong – Heather’s story

As a mum of 3 although working I guess things started by putting bits of clothes on the credit or store card when needed, the big one was... Read more
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HOW TO SURVIVE LIFE AFTER AN IVA - Looking towards a mortgage

One of the motivations for some people starting an IVA, is to deal with their debt, improve their credit rating and finally make a start on... Read more
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HOW TO SURVIVE LIFE AFTER AN IVA - Saving money

One of the main reasons people get into debt in the first place is that we have no emergency fund. When something essential goes wrong (boiler, car neces... Read more
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HOW TO SURVIVE LIFE AFTER AN IVA - Rebuilding a credit rating

For many, once the IVA is successfully completed they vow never to touch credit again. They speak of lessons learned and look back on the d... Read more
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HOW TO SURVIVE LIFE AFTER AN IVA     Receiving the completion certificate

Once we have made our final payment into the IVA, it will be up to the Insolvency Practitioner to complete the IVA paperwor... Read more
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Debt matters

The average household is £13,000 in debt (excluding mortgages). The average credit card debt is £2504 according to the Money Charity (March 2017). If we’re fortunate enou... Read more
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The creditors’ meeting

Once the groundwork has been done and the Insolvency Practitioner is satisfied that details are correct regarding a debtor’s income, outgoings, assets and debts and an un... Read more
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How much does an IVA cost?

There are always fees involved in an IVA. The Insolvency Practitioner is a professional who needs to be paid. Time and expertise are required in ascertaining the facts of an... Read more
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Bank accounts

Except for the very few, we all need a bank account. And for many entering an IVA, they owe their own bank. Either an overdraft, a loan or a credit card (or all three!). In such cases the... Read more
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Full and Final IVA's

IVA's are normally considered to be fixed in length (usually 5 years) and based on affordable monthly payments. But there is a different sort of IVA that is based on a lump sum off... Read more
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IVA's and car finance

The number of cars on finance has rapidly increased in the past few years. PCP is now by far and away the largest method of such deals. It allows us to effectively rent a reliable... Read more
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IVA's and the self employed

The self-employed are not immune from debt problems. In fact given the erratic nature of their income, often cash flow problems emerge – bills need paying on time, but... Read more
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Single or Joint IVA's?

Of necessity, an IVA is a single debt solution. The letter “I” in IVA stands for individual. However when it can be demonstrated that a couple (married or co-habiting... Read more
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Should homeowners consider an IVA?

For homeowners, an IVA may well be a much better option than bankruptcy. In bankruptcy the house is at risk – the debtor may have to come up with a lump sum rep... Read more
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When an IVA is not the right answer

Income levels could be a reason for avoiding an IVA. As already mentioned, it is possible to have too little or too much income. Too little income may mean that a mi... Read more
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IVA - things to consider

·         Possible release of home equity – if not possible then often debtors are asked to make IVA monthly payments for 6... Read more
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Benefits of an IVA

·         Debt free in 5 years (occasionally IVA’s last longer but 5 years is the norm). ·     &... Read more
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IVA case studies 4

I am sharing here my personal experience and hopefully it will be helpful for quite a few people.   In the year 2010 I ended up in huge debt which was nearly £50K and I... Read more
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IVA case studies 3

My story began several years ago when my wife had to give up work with a serious back complaint, at that time I had one son in university and another son just starting. Shortly after... Read more
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IVA case studies 2

My previous long term partner was a successful businessman and during the financial crash was left unemployed. During the years that followed I supported him financially and unfortun... Read more
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IVA case studies 1

My difficulties began when I split from my wife in 2009. We had 1 child between us and 2 that older kids that were from her previous relationship. I was (still am) self-employed and... Read more
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IVA's - the creditors' meeting

Once the groundwork has been done and the Insolvency Practitioner is satisfied that details are correct regarding a debtor’s income, outgoings, assets and debts and... Read more
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How much does an IVA cost?

There are always fees involved in an IVA. The Insolvency Practitioner is a professional who needs to be paid. Time and expertise are required in ascertaining the facts of an... Read more
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IVA's and bank accounts

Except for the very few, we all need a bank account. And for many entering an IVA, they owe their own bank. Either an overdraft, a loan or a credit card (or all three!). In such... Read more
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IVA's and the self employed

The self-employed are not immune from debt problems. In fact given the erratic nature of their income, often cash flow problems emerge – bills need paying on time, but... Read more
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Full and Final IVA's

When people think of IVA's they usually think of monthly payments over a number of years. But there is a different sort of IVA that is based on a lump sum offer. This applies to so... Read more
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IVA's and car finance

The number of cars on finance has rapidly increased in the past few years. PCP is now by far and away the largest method of such deals. It allows us to effectively rent a reliable... Read more