Select Page

Amazing Government Legislation Helping Brits Write Off Up To 80% Of Their Debts

by Luke Anderson | Jan 29, 2019 | Personal Finance | 2min Read

Many Brits are facing crippling debt and struggling with everyday household bills*. There is a growing concern as more than 600,000 people sought help last year from their financial difficulties, borrowing on credit cards remains the most common debt, leaving many with limited options available to help them get out of debt.

Thankfully, there is a solution. Thousands of people have already turned to getting an IVA, which in many cases has written off up to 80% of their debt.

What is an IVA?

An IVA is set up by an insolvency practitioner, who deals with any and all creditors, to help reduce and create an affordable repayment scheme. With debts over £5000 on average, many Brits can write off up to 80% of their debt, including credit cards or unsecured loans, which is helping families across the UK get their finances in order.

How do I know if an IVA is right for me?

If you are facing financial difficulties and answer “yes” to the questions below:

  • Are you concerned that your finances are out of control?
  • Do you normally use credit to cover living costs?
  • Is the amount you owe increasing?

Eligible for an IVA?
Click the type of debt icon below to find out!

What are the benefits of an IVA?

  1. Become debt free – affordable repayments are set, which will depend on income and outgoings over an agreed time frame, to move forward financially with your life.
  2. Avoid creditors – once an agreement is made, creditors cannot take any further legal action or make contact to demand payment.
  3. No need to sell your home – advisors look at individuals circumstances to find the right options for you.
  4. Up to 80% of debt can be written off – if an individual has over £5000 of debt, then most of it can be written off legally.

How to get started?

The Money Advice finds expert debt advisors that can help. We offer a free online tool designed to make it quick and easy to find a tailored solution to your personal needs.

Simply follow these steps

  • Step 1 – Click your location on the map below.
  • Step 2 – Tell us about your finances – details about debts, creditors, and employment status
  • Step 3 -An advisor will find a solution for you