Latest Articles

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New Year - new habits: minimising outgoings

One of the common themes of the stories from those who have undertaken an IVA is the need to live within a stricter budget. This involves care in where our m... Read more
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New Year - new habits: working overtime?

To be honest, it’s difficult to increase income during an IVA without it affecting the IVA payment level. This payment level is based on affordability and... Read more
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IVA? Wrong decision!

Graeme did all the right things with regard to his debt. He researched options. He spoke to 3 different companies and didn’t allow himself to be pressurised by anyone until h... Read more
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Thinking again about a rejected "joint" IVA

David and Sarah have been married for 5 years and during this time each had accumulated debt. Apart from their joint £500 overdraft, David had a loan a... Read more
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The ostrich approach

Looking back, Brian was unsure why he had been so reluctant to admit there was a problem with debt. All debts were paid on time, and because his outstanding credit rating, there wa... Read more
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How about a lump sum IVA?

Jane explained that she had been struggling with debt since her late teenage years over 10 years ago. Overspending when she first was offered credit led to pat of her income a... Read more
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IVA EXAMPLES - when it was the wrong decision

Graeme did all the right things with regard to his debt. He researched options. He spoke to 3 different companies and didn’t allow himself to be pres... Read more
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IVA EXAMPLES - when a baby arrives

The arrival of Hannah was meant to be one of the happiest events in Felicity and her partner’s lives. And indeed it was. However, Felicity on sharing her story,... Read more
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IVA EXAMPLES - recognising the problem

Looking back, Brian was unsure why he had been so reluctant to admit there was a problem with debt. All debts were paid on time, and because his outstanding credi... Read more
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IVA EXAMPLES - offering a lump sum

Jane explained that she had been struggling with debt since her late teenage years over 10 years ago. Overspending when she first was offered credit led to pat of her... Read more
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The B word

Brexit has dominated the news for 3+ years now. Whichever side of the fence we find ourselves on, there can be little doubt that the deal/no deal/remain debate is exhausting and ultra-divisi... Read more
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Debt – a student perspective

The range of courses available is more than ever before. You can study circus skills, surf science and horology (its ok – I’ve looked it up – it’s... Read more
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Secrecy and debt

"It was the secrecy that nearly killed me" reported Helen who finally found peace of mind in the acceptance of an IVA. She had hid her growing debt problem from her partner throug... Read more
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Money matters!

The American millionaire Rockefeller was once asked “how much money does it take to make someone really happy”.  “Just a little bit more” he replied. Rich an... Read more
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During an IVA - relating to our IVA company

IVA Companies make mistakes, and people that supervise our case can vary in their availability, empathy and support. Some people do have bad experiences &nd... Read more
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During an IVA - finding support

Debt can be a very lonely place to be and some confess the fact that they even kept their debt from their partner/spouse. Our shoulders are only so broad to cope with th... Read more
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During an IVA - keeping a lid on outgoings

One of the common themes of the stories from those who have undertaken an IVA is the need to live within a stricter budget. This involves care in where our mo... Read more
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During an IVA - Maximising income

To be honest, it’s difficult to increase income during an IVA without it affecting the IVA payment level. This payment level is based on affordability and increa... Read more
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What happens at a 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 de... Read more
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Do I have to pay a fee to apply for an IVA?

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... Read more
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Will I need to open a new bank account in an IVA?

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 car... Read more
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Lump sum IVA's

The assumption so far in this book is that the IVA’s we have been referring to are fixed in length (usually 5 years) and based on affordable monthly payments. But there is a differ... Read more
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I have a car on finance - what happens in an IVA?

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... Read more
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Can I go for an IVA whilst 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 payin... Read more
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Is it possible to propose a joint IVA?

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 (marrie... Read more
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Could I lose my house in 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 repre... Read more
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Things to consider before choosing an IVA

·         Possible release of home equity – if not possible then often debtors are asked to make IVA mont... 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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The 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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Facing up to our debt

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 fort... Read more