Three Methods to Consolidate Your UK Credit Card Debt – but which is the best?

When it comes to money management, debt consolidation is one of those topics that can easily intimidate. While the idea is simple enough, the challenge of being approved for new credit and choosing the right credit product is where things quickly become complicated. This guide will walk you through each step, so you can make … Read more

Things You Should Know About an Individual Voluntary Arrangement

If you’ve taken the first steps to finally tackle your debts head on, it probably didn’t take all that long to come across a debt solution that seemed to be mentioned time and time again. We talk of course of an Individual Voluntary Arrangement (or IVA for short). Record numbers of individuals are turning to … Read more

What You Need to Know About Collectors Chasing You in The UK for UAE Debt

When you move outside of your native country you are said to be an expatriate of the country you are moving from. Many UK citizens move to various places around the world, some for work, some just to escape our weather. And one of the places many Brits move off to is the UAE. And … Read more

UK Kicks U.S. Ass When it Comes to Debt Relief Options

Not all that long ago I actually moved to the UK to study the benefits of debt relief options there. There are familiar U.S. based creditors in the UK but they handle debt relief entirely differently. While the U.S. struggled with disreputable debt settlement providers, the UK required debt relief providers to actually hold a … Read more

UK Individual Voluntary Arrangements to Set Record

By Andrew Smith Last year I predicted it would be a record year for IVAs. There had already been more than 40,000 Individual Voluntary Arrangements, the most-used personal insolvency procedure in England and Wales, in the first nine months of the year and here at ClearDebt we were pretty confident the total for the year … Read more

I Can’t Afford My UK IVA Payments and Go to Bed Hungry. – Paulette

“Dear Steve, I am currently on IVA debt management plan. At the moment am unemployed. Struggling to pay my plan. Am a single mother of four children. This is surpose to take five years to be written off or get out of the debt. I am not coping with it. some days we go to … Read more

I Owe a Lot of Money in Hong Kong for Cancer Treatment. I Want to Avoid Bankruptcy. – Yogi

“Dear Steve, I unfortunately was diagnosed with cancer couple of years ago. Due to such unexpected illness, I incurred more than a million HKD debt to cover my medical bills. I am currently working but not enough to cover my debt. I’m still not fully recovered so I’m not sure if I can keep the … Read more

Can the Creditors Extend Our IVA Even if We Have No Equity in Our House? – Ken

“Dear Jon, My wife and I are in an IVA and have made all the payments for the last six years. We have no equity in our house at this point. Can the creditors extend the Individual Voluntary Arrangement to eight years to make up for the lack of equity in our house? Ken” Hi, … Read more

Individual Voluntary Arrangements Trapping People Over Payment Protection Insurance

Brits in Individual Voluntary Arrangements (IVAs) are finding that even after they have spent five years repaying their debt through the binding debt repayment approach they are still stuck in the IVA and can’t get out. As part of the IVA process in the UK, consumers are told they must file a claim for overpayments … Read more

I’m in an IVA With Debt Free Direct in the UK But Have Concerns. – Richard

“Dear Jon, I am in an IVA. I have an equity release clause as follows: ‘After month 54 of the arrangment the Supervisor will obtain a professional valuation of the property. The debtor will then obtain two remortgage quotes from reputable brokers/lenders to satisfy the Supervisor that the equity realisation is the maximum achievable. The … Read more

I’m in the UK And in IVA But Wonder if Actually Filing Bankruptcy Would Be Better. – Sarah

“Dear Jon, Up until april this year I was a director of my own company with my husband. In april we decided that after 7 years of trading we could not carry on trading, a lot of the debts were in my personal name and I was being hounded by the creditors, I now have … Read more

I Am Now a Pensioner. Should I Close Down My IVA – Individual Voluntary Arrangement? – Carl

“Dear Jon, IVA since july 2008.£50000 owing I am now a pensioner still trying to work hard What realy will happen at the end of 5yrs.My friends over xmas said its a con and said i should close it down Carl” Carl, You failed to mention if you have property or not, as this can … Read more

We Eliminated Our UK Debt With an IVA But a Loan is Reported as Defaulted. – Katie

“Dear Jon, My husband and I were in debt (lots of reasons ie becoming parents relocating from large city etc…) so we were finally at our wits end and decided IVA was for us as Rich (husband) is a police officer so bankruptcy was not an option if he wanted to keep his job. We … Read more