Debt Wise

3 easy steps to beating your debt

Complete the simple form
1

Complete the simple form

We analyse your debt circumstances
2

We analyse your debt circumstances

We provide a real solution to your debt
3

We provide a real solution to your debt

Do you qualify for a debt plan?

You could be accepted for an IVA if you answer yes to these four simple questions:

  • Owe £5,000 or more
  • Owe two or more lenders
  • Struggle to make your current debt payments
  • Are serious about becoming debt free!

Remember, debt plans are intended to be flexible, so if you don’t quite meet the criteria don’t worry, you still may be able to qualify!

Why choose Debt Wise?

• No upfront fees – Saving you hundreds

We are one of the only debt management companies not charge upfront or setup fees. Paying any company setup or upfront fees will cost you hundreds of pounds that is completely unnecessary and could be going towards your debts.

• Instant setup

You can start to set up your IVA today just speak with a one of our expert advisors.

• High acceptance rate

Having a good relationship with creditors we make sure every debt plan is carefully considered by the lenders so you get the best possible outcome. We aim to get interest and charges frozen as soon as possible in your plan wherever possible, although once accepted this is guaranteed with an IVA.

• Excellent customer service

We pride ourselves in having an excellent customer care team. Highly trained and able to answer any question quickly and professionally.

Fill in the form above to apply online today

What is an IVA?

An IVA is a voluntary agreement that is made between you and your lenders to pay off your debts over a set period of time. It is a formal, government approved legal debt solution. Approved by the court and your lenders have to stick to it.

An Individual Voluntary Arrangement must be set up by a qualified insolvency practitioner (IP). This will be a lawyer or accountant.

You will no longer deal with any of your creditors, the insolvency practitioner (IP) deals with your lenders throughout the term of your IVA, normally 60 months.

Most other debt management companies are likely to be more expensive because they charge a set up/ upfront fee. WE DO NOT CHARGE ANY SET UP OR UPFRONT FEES SAVING YOU HUNDREDS.

Is an Individual Voluntary Arrangement right for you?

  • You have around £80 spare income each month after paying all your living expenses
  • You owe 2 or more creditors
  • You want someone to deal with your lenders for you
  • You have a debt level of £5,000 or more

If you decide to go for an IVA, the insolvency practitioner will work out a repayment plan based on what you can afford. The repayment proposal is then forwarded to your creditors and if 75% of the lenders agree you will only pay back the agreed set amount each month, usually for 60 months. Your monthly repayment will be paid directly to the insolvency practitioner who will distribute the money to your creditors.

Once your IVA has been agreed by your lenders, they will be unable to take any further action against you and any interest and charges will be stopped.

When you have completed your IVA you will no longer owe any money to the lenders and any debt leftover will be legally written off.

What are the benefits?

  • Having upto 80% of your debt legally written off
  • All interest and charges on the debts are instantly stopped
  • Have protection against your lenders taking any action against you
  • Knowing you will be debt free in only 60 months
  • Creditors normally accept only a part of the debt is repaid back and the rest is written off 

Things to consider:

  • The IVA will affect your credit rating meaning it will be difficult to obtain further credit
  • If you are home owner you may need re-mortgage
  • If you don’t keep up with your repayments, the IVA will fail and you could be made bankrupt
  • It may affect your job, if you’re an solicitor or accountant

So what's next?

Speak today to a qualified debt professional who will answer any questions or concerns you may have. Our advisors will be able to talk you through your situation and help plan your next step, whether it’s an IVA or an alternative solution.