At X debt we provide free debt advice on personal debt problems. Please feel free to contact us to arrange an initial, free consultation and we will endeavour to provide the best debt advice possible on the suitability of an IVA in your circumstances.
As well as our debt advice being free of charge there is also no obligation on you to act on that advice or follow through with the debt solution we recommend.
In the first instance you may wish to try our IVA calculator which will give an indication of whether an IVA is the most appropriate debt solution for your circumstances.
Fees will only become payable to X debt should we arrange an IVA for you. However, fees due to X debt will not increase your indebtedness. All fees will be taken from your monthly contributions and agreed by your creditors, the amount of which is based on what you can reasonably afford to pay. Whilst determining whether an IVA is the most suitable option for you we will go through a detailed income and expenditure exercise to calculate what you can afford to pay. This exercise will take into account all essential outgoings including secured loan payments such as mortgages, rent payments, utility bills etc and your monthly household income. A monthly allowance is also made for food, petrol and other essential items. The exercise allows us to calculate your surplus monthly income and therefore the payment you can reasonably afford to make to your unsecured creditors and towards your IVA.
Once we have gathered all this information we will then be in a position to advise you as to whether an IVA is most appropriate debt solution.
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