IVA Company Milton Keynes

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Expert Help with Debt Challenges in Milton Keynes

Welcome to IVA Company Milton Keynes, where we understand the challenges of managing debt. We offer tailored solutions like Debt Management Plans, Individual Voluntary Arrangements, Debt Relief Orders, and Bankruptcy to help you achieve financial stability. Your journey to debt relief starts here.

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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When facing overwhelming debt, bankruptcy can be a viable solution to help individuals in the UK regain financial stability. Bankruptcy is a legal process that allows you to clear your unmanageable debts, providing a fresh start. Suitable for those with significant debts they cannot repay, bankruptcy involves selling assets to pay creditors, with remaining debts usually written off. While it offers relief from debt, bankruptcy comes with consequences. It can affect your credit score for several years, making borrowing challenging. Assets like your home or car may be at risk, and your bankruptcy status will be public record. However, bankruptcy provides a chance to start afresh financially. If considering bankruptcy, seek professional advice to understand the implications and explore alternatives tailored to your situation.

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Individual Voluntary Arrangements (IVAs) are a popular debt solution in the UK, providing a structured way to manage debts. An IVA allows you to repay creditors through affordable monthly payments, with the remaining debt typically written off. Suitable for those with unmanageable debts, an IVA can help you avoid bankruptcy and regain control of your finances. While it impacts credit ratings, an IVA offers a fresh start with professional guidance. If considering an IVA, seek advice to understand its implications and determine if it’s the right path for you.

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Debt Relief Orders (DROs) provide a debt solution tailored to individuals in the UK facing severe financial hardship. A DRO freezes your debts for 12 months, after which they are usually written off if your situation hasn’t improved. Suitable for those with low income and minimal assets, a DRO offers a fresh start without the need to make ongoing payments. While it’s a powerful tool to overcome debt, a DRO can impact your credit rating and financial options. Seek professional advice to see if a DRO aligns with your circumstances and explore the best path to financial recovery.

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Debt Management Plans (DMPs) offer a structured approach to managing debt for individuals in the UK. A DMP consolidates your debts into one affordable monthly payment, negotiated with creditors through a debt management company. Suitable for those struggling to meet repayments, a DMP can freeze interest and charges, making debt more manageable. While it helps regain financial control, a DMP may impact your credit score and borrowing ability. It’s essential to seek professional advice to assess if a DMP is right for you and understand the implications. By exploring this debt solution, you can work towards a debt-free future with expert guidance and support.

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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 Company Milton Keynes offers tailored debt solutions to individuals in Milton Keynes, providing support with Debt Management Plans, IVAs, DROs, and Bankruptcy. Find expert help with your debt challenges.