IVA Company Kent
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Affordable Debt Help from IVA Company Kent
Welcome to IVA Company Kent, where we understand the challenges of dealing with debt. We offer a range of tailored solutions, including Debt Management Plans, Individual Voluntary Arrangements, Debt Relief Orders, and Bankruptcy. Our services focus on your individual circumstances, prioritising affordability and long-term financial stability. If you’re feeling overwhelmed by debt, we’re here to help you explore your options without judgment. Take the first step towards financial freedom by seeking professional advice today.
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
Advantages of a DMP
Disadvantages of a DMP
If you are considering bankruptcy as a debt solution in the UK, it’s essential to understand what it involves. Bankruptcy is a formal insolvency procedure that can help individuals struggling with overwhelming debts to make a fresh start. It is suitable for those who have little to no disposable income, no assets to sell, and no other viable way to repay their debts. The process involves declaring bankruptcy, having an Official Receiver manage your finances, and potentially making monthly payments for up to 3 years. While bankruptcy can provide relief from unmanageable debts, it also comes with consequences. Your credit score will be negatively affected, assets may be sold to repay creditors, and future borrowing may be challenging. Despite these drawbacks, bankruptcy offers a chance to wipe the slate clean and start afresh. If you’re considering bankruptcy, seek professional advice to explore your options without judgment.
Individual Voluntary Arrangements (IVAs) can be a lifeline for individuals in the UK struggling with unmanageable debt. An IVA is a legally binding agreement between you and your creditors to repay your debts in a manageable way. It is suitable for those with a regular income who can afford monthly payments. The process involves proposing an IVA to creditors, setting up a repayment plan, and making fixed monthly payments. While an IVA can provide relief from debt stress, it may affect your credit rating and borrowing ability. However, after successful completion, a portion of your debts can be written off, giving you a fresh start. If you’re considering an Individual Voluntary Arrangement, seek professional debt advice to determine if it’s the right solution for you.
In the UK, Debt Relief Orders (DROs) offer a solution for individuals facing severe financial hardship and unable to repay their debts. A DRO provides a fresh start by freezing your debts for 12 months and writing them off if your situation hasn’t changed. It is suitable for those with low income, minimal assets, and debts below a certain threshold. The application process involves a qualified intermediary reviewing your finances and submitting the order to the Insolvency Service. While a DRO can provide relief from overwhelming debts, it also comes with restrictions, such as limitations on borrowing and affecting your credit rating. If you meet the criteria for a Debt Relief Order, seek professional advice to explore this option and understand how it can help you become debt-free.
If you’re in the UK and struggling with debt, a Debt Management Plan (DMP) could be a suitable solution. A DMP is an informal agreement between you and your creditors to repay your debts at a more manageable rate. It is ideal for individuals with some disposable income who can afford to make reduced monthly payments. The process involves assessing your finances, negotiating with creditors, and setting up a repayment plan. While a DMP can provide relief from financial stress, it may also take longer to clear your debts, and interest and charges may still apply. Your credit score will be impacted, but a DMP can help you regain control of your finances. If you’re considering a Debt Management Plan, seek professional debt advice to discuss your options and find the best way forward.
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
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 Kent in [Location] offers tailored debt solutions, including IVAs, DMPs, and DROs. Get professional advice to manage debt and achieve financial stability.