IVA Cardiff

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IVA Cardiff Support: Help with Managing Debt

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Welcome to IVA Cardiff, where we understand that seeking debt help can be overwhelming. Our tailored debt solutions, including Debt Management Plans, Individual Voluntary Arrangements, Debt Relief Orders, and Bankruptcy, focus on your financial stability and long-term well-being. Explore your options with us without judgment.

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.

Check if you qualify

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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Bankruptcy is a legal process that helps individuals in the UK deal with overwhelming debt. It is suitable for those with unmanageable debts and no other viable options. The process involves declaring bankruptcy, which can have lasting effects on credit scores, assets, and future borrowing. While it provides relief from debt, there are consequences to consider. Seek professional advice to understand if bankruptcy is the right solution for you.

Check if you qualify

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Individual Voluntary Arrangements (IVAs) are formal agreements between you and your creditors to repay debts over a fixed period. Suitable for individuals in the UK with unmanageable debts, an IVA can lead to debt write-off after successful completion. Consider the impact on credit ratings and assets. Seek professional advice to determine if an IVA is the right fit for you.

Check if you qualify

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Debt Relief Orders (DROs) provide a debt solution for individuals in the UK with low income, minimal assets, and debts they cannot repay. This formal insolvency process allows qualifying individuals to have their debts written off after a 12-month moratorium period. While it offers a fresh start, there are limitations to consider. Seek professional advice to see if a DRO is the right choice for your circumstances.

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Debt Management Plans (DMPs) offer a structured way to repay debts in the UK. Suitable for those struggling with multiple debts but still able to make regular payments, a DMP involves setting up manageable repayment plans with creditors. While it can help simplify debt repayments, it may impact credit scores and borrowing. Explore professional debt advice to see if a DMP is right for you.

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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.

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