Who can be helped?

Our 100% free financial advice is aimed at anyone who is in financial difficulty, we are able to help most people by finding a suitable debt solution and if for any reason we cannot help you, we will signpost you to the most relevant organisation.

Will I lose my house?

No, the solutions which The Debt Line are able to link you with are specifically designed to protect your property even if you own it however if you have considerable equity in your property you may need to follow a slightly different path. 

Can I stay in business?

Yes, you can. Unlike being declared bankrupt, there’s no limit on your business activities.

How long does an IVA last?

After 60 months (5 Years) you will be totally debt free.

Which creditors can be included in an IVA?

Creditors you can include are: Banks, Personal Loans, Pay Day Loans, Credit Cards, Store Cards, Catalogues, Customs and Excise (VAT), Inland Revenue and even loans from friends and family.

You can’t include your mortgage, hire purchase, fines, debts incurred through fraud, maintenance/child support arrears or rent.

Can I enter into an IVA if I have already received a Statutory Demand?

Yes.

Can I obtain an IVA if a Bankruptcy Order has been made against me?

Yes. 

What happens if I don’t keep up the payments on my IVA?

If you default on your payments, the IVA may be revoked.

What happens once I finish paying my IVA?

At the end of the process the Insolvency Practitioner will issue you with a ‘Statement of Completion’, typically within 3 months of the final payment. The Insolvency Practitioner will also send a copy of this to the Insolvency Service so that they can amend their records.