If you have debt problem you are probably hoping you can find a way that will write off all your debt. Although we can’t wave a magic wand and say goodbye to your debt (we wish we could!) there are ways that you can write off the debt that you cannot afford.
Become Debt Free with an IVA
An IVA (Individual Voluntary Arrangement) with One Advice can help you write off unaffordable debt. As long as you keep up on your repayments, you will become debt free in 60 months. It is most suitable for those who owe large amounts of debt to a number of different lead sources, always ensure you get expert debt advice about the right debt solution for your circumstances.
An IVA is a formal agreement with your creditors, where you make monthly payments to your creditors based on your personal circumstances. At the end of the agreement any remaining debt is automatically written off.
As well as writing off debt, other benefits include:
- Interest and charges frozen on your debt.
- Creditors cannot continue legal action (Although if you fail to make repayments Bankruptcy proceedings can start against you).
- You make 60 monthly payments then you are debt free.
- Monthly payments are based on your finances, so you only pay a monthly amount that you can afford after living expenses have been deducted.
- You will not have to sell your home, unlike Bankruptcy.
See If You Qualify to Write Off Debt
The best way to see if you can write off your unaffordable debt is to get in touch. Our expert debt advisors are on hand to offer your free help and advice on how to write off your debt and see if you qualify for an IVA.