IVA Lancashire

Speak to an expert to discover all the debt solutions available to you.

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Advice is free but fees and disadvantages may apply if you enter a debt help solution.
May not be suitable for all.

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IVA Lancashire Debt Help Available Now

Welcome to IVA Lancashire, where we offer tailored debt solutions to help you manage your financial challenges. Our range of services includes Debt Management Plans, Individual Voluntary Arrangements, Debt Relief Orders, and Bankruptcy options. We understand that seeking debt help can be daunting, but we’re here to support you every step of the way.

Make one affordable monthly payment to us and we’ll manage the payments to your creditors for you.

We deal with your lenders on your behalf, taking care of all the hassle and paperwork.

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How do I get started?

Answer a few quick questions

Use our easy online questionnaire to start the debt help process.

Speak to a debt specialist

Our friendly, experienced team will explain all the available options.

Choose your plan

Select the best solution for your circumstances and lifestyle.

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What debt are you most concerned about?

Credit Cards

Over Drafts

Unsecured Loans

Store Cards

Personal Loans

Utility Bills

Business Debt

Catalogues

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Advantages of a DMP

We will manage the contact with your creditors and provide them everything they need. So, as long as you keep in touch with us, your creditors shouldn’t need to contact you.

You will just make one monthly payment to us, instead of paying all of your creditors individually.

In the vast majority (99.48%) of cases, creditors will stop applying interest and charges, so the money you pay will come straight off the balance.

You will have an online account which you can use to view your account and make changes.

If your circumstances change, we will renegotiate the payments with your creditors.

Disadvantages of a DMP

Your creditors don’t have to agree to the repayment, or to freeze interest and charges.

A debt management plan doesn’t protect you from further recovery or legal action from your creditors.

Your credit rating will be impacted because you’ll be paying reduced amounts to each creditor. If you’ve been missing payments to your debts it is likely that your credit report will already have been impacted.

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If you are struggling with overwhelming debt in the UK, bankruptcy can be a viable solution. Bankruptcy is a legal process that allows individuals to declare themselves unable to repay their debts. It is suitable for those with unmanageable debt and no other feasible options. The process involves declaring bankruptcy, which typically lasts for a year, during which your assets may be used to repay creditors. While bankruptcy can provide a fresh start, it also comes with consequences. Your credit score will be significantly impacted, making it challenging to borrow in the future. However, bankruptcy can help you become debt-free and start anew. If you are considering bankruptcy, seek professional advice tailored to your situation without judgment.

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Individual Voluntary Arrangements (IVAs) provide a structured way to repay your debts in the UK. An IVA is suitable for individuals with unmanageable debt looking for a feasible repayment plan. It involves making affordable monthly payments to an insolvency practitioner who distributes them among your creditors. While an IVA can lead to debt write-off, it will affect your credit score and borrowing capabilities. If you are considering an IVA as a debt solution, seek professional advice to determine if it’s the right choice for you.

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Debt Relief Orders (DROs) are designed to help individuals in the UK with low income and minimal assets. A DRO freezes your debts for a year, after which they are typically written off. It is suitable for those with debts they cannot repay and limited assets. The application process involves meeting specific criteria and paying a fee. While a DRO can provide relief, it may affect your credit rating and ability to obtain credit. If you believe a Debt Relief Order may be the right solution for your situation, seek professional advice to understand the implications.

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Debt Management Plans (DMPs) offer a structured way to repay your debts in the UK. A DMP is suitable for individuals struggling with multiple debts and seeking a manageable repayment plan. It involves working with a debt management company to negotiate affordable monthly payments with your creditors. While a DMP can help you regain control of your finances, it may also take longer to clear your debts and impact your credit rating. It’s essential to explore all options and seek professional debt advice when considering a Debt Management Plan tailored to your circumstances.

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How does it work?

Let’s say you owe…

Debt Type	Amount
Bank Loan	£5,366.00
Gas Bills	£129.00
Pay Day Loan	£1,989.00
Overdraft	£1,234.68
Debt Collection Agency	£380.16
Short Term Loan	£243.88
Debt Collection Agency	£471.61
Council Debt	£1,009.24
Credit Card	£8,433.00

Total amount owed

£19,256.57

After an IVA

65%
debt written off

IVA Payments
£110
per month

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Example case completed in 2023. Repayment calculated using income and expenditure data. Monthly payments and write off percentages are based on individual circumstances.

IVA Lancashire offers tailored debt solutions in the UK, including Debt Management Plans, IVAs, DROs, and Bankruptcy options. Get professional debt advice specific to your circumstances with IVA Lancashire.