IVA Company Cardiff

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IVA Company Cardiff: Get Help with Debt Today

IVA Company Cardiff: Welcome to Debt Solutions UK
Welcome to IVA Company Cardiff, where we understand that dealing with debt can be overwhelming. Our tailored services include Debt Management Plans, Individual Voluntary Arrangements, Debt Relief Orders, and Bankruptcy solutions designed to support your financial stability. We encourage you to explore your options and seek professional advice without judgment to find the right debt solution for you.

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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IVA Company Cardiff: Explaining Bankruptcy in the UK
Bankruptcy is a legal process that allows individuals in the UK struggling with unmanageable debt to seek a fresh start. It is suitable for those with debts they cannot repay, offering a way to clear most debts and make a fresh financial start. The process involves declaring bankruptcy, which involves a fee and various forms, and once approved, a trustee will manage the individual’s financial affairs. Pros include freedom from most debts, protection from creditors, and a chance to rebuild finances. However, cons include potential asset loss, restrictions on financial activities, and the impact on credit ratings. Bankruptcy affects credit scores negatively, making it difficult to obtain credit in the future, and assets may be sold to repay debts. It’s essential to seek professional advice tailored to your circumstances without judgment.

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IVA Company Cardiff: Navigating Individual Voluntary Arrangements in the UK
An Individual Voluntary Arrangement (IVA) is a legal agreement suitable for individuals in the UK struggling with unmanageable debt. It offers a structured repayment plan based on affordability, with the potential to write off a portion of the debt. Eligibility criteria include having a stable income and debts over a certain threshold. IVAs can provide relief from creditor pressure and a clear path to debt resolution, but they may impact credit ratings and borrowing capabilities. Monthly payments are arranged based on what the individual can afford, and debts are typically written off after successful completion of the IVA. Seeking professional advice is essential to determine if an IVA is the right debt solution for your situation.

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IVA Company Cardiff: Exploring Debt Relief Orders in the UK
A Debt Relief Order (DRO) is a debt solution tailored to individuals in the UK struggling with low income and few assets. It offers a route to write off debts without the need to pay them back, providing a fresh start after 12 months. The application process involves meeting specific criteria, including debt and asset limits. Advantages of a DRO include debt write-off and protection from creditors, but drawbacks may include restrictions on financial activities and impact on credit ratings. Debts are frozen during the 12-month moratorium period, offering relief from creditor pressure. Seeking professional advice is crucial to understand if a DRO is the right debt solution for your circumstances.

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IVA Company Cardiff: Understanding Debt Management Plans in the UK
A Debt Management Plan (DMP) is a debt solution in the UK suitable for individuals struggling to meet their debt repayments. It involves consolidating multiple debts into one manageable monthly payment based on affordability. The benefits of a DMP include reduced stress, simplified repayments, and creditor communication handled by a DMP provider. However, drawbacks may include extended repayment periods and potential impact on credit scores. Payments are arranged based on what the individual can afford, and creditors are involved in agreeing to the plan. Interest and charges may be frozen or reduced to help clear the debts effectively. It’s essential to seek professional debt advice to explore whether a DMP is the right solution for your financial situation.

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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 Cardiff offers tailored debt solutions in Location, including Debt Management Plans, IVAs, and Bankruptcy options. Get professional advice on managing debt and achieving financial stability.