Help, I Need Some Direction As To How To Get Out of Debt.

man with a bag of debt

Question I hope you can give me some direction on this as I am lost when it comes to money problems. I lost my job last Autumn due to the pandemic, and have not been able to find any jobs that paid nearly what I was earning. I am working part-time at a local supermarket, […]

Can I Qualify For a Debt Relief Order?

erasing debt

In as much as things change, they stay the same. Insolvency is insolvency, and some of the outcomes from insolvency can be going bankrupt, or entering into an IVA/Individual Voluntary Arrangement. In April 2009, a new form of insolvency was created and it was termed a Debt Relief Order or DRO. One of the reasons […]

How Do We Find Ourselves in Debt?

inspector with magnifying glass

In answering this question, how do we find ourselves in debt, we don’t “find” ourselves in debt, debt is a process. And a process which can be a lengthy one. The Process That is Debt You get your first credit card. You go to university, and take out student loans. You need a loan to […]

What Is a Token Payment Arrangement?

£ sign

A token payment arrangement, or token payment plan, is a way to help someone who may be experiencing a major financial change, be in debt, and needs a space or time to sort the matter out. It is similar to the “breathing space” scheme many creditors are offering. How Does a Token Payment Plan Work? […]

What Happens At The End Of My IVA?

woman with outstretched arms

Question Hi, and thanks for taking my question. I began an IVA almost 5 years ago and have been making payments each month. The IVA was modified a couple of times as my income changed, but I have never missed a payment. What happens at the end of the 5 years? Do my debts magically […]

How To Get Out Of Debt

debt, UK debt, how to get out of UK debt

“Neither a borrower nor a lender be” Hamlet Act 1, Scene 3 Debt: “The state of owing money to someone, or something”. Debt is a four letter word, and for some people, a dirty four letter word as they wish they were not in it (debt), or do their best to try and avoid it […]