IVAs in Practice

Is an IVA appropriate for you?
An example of the kind of people we can help. Keith and Helen both have steady jobs earning £40,500 per year between them. They live in a modern 3-bedroom house with their two daughters. Their debt problems began two years ago when Keith’s overtime dried up. They had credit card debt and store card debt. Because of the rise in house prices they managed to re-mortgage their house and clear some of the debt and put a deposit on a new car.

Since then Helen lost her job, although is now employed again though on less money. As a result of this they ran up further credit card debt and had debt repayment problems with their mortgage.

They have £31,500 of credit and store card debts, an unsecured loan from the bank of £7,500 and an overdraft of £2,100. They were paying £650 per month to the creditors but could only afford £355.

Having looked into the alternatives available to them they narrowed this down to debt management or an IVA.

Are you in a similar position?

For free debt advice contact Just-Debts on 0800 915 3950 for confidential advice on your financial problems.

IVA advice specialists, Just-Debts will endeavour to find the best debt solution for you. Over the years we have advised hundreds of individuals. Some have come to us from debt management when they realized that despite making regular monthly payments they hadn’t been servicing the interest payments. They wanted debt advice and to find out about IVA’s. Often they ended up paying less per month into the IVA than they had previously being paying but with the certainty that once the IVA was completed the debt was written off.