123 Debt Solutions Logo Debt Solutions Debt Problems Bankruptcy

IVAs from 123 Debt Solutions could resolve your deficit problems

Trying to find a way out of debt problems is no easy feat, but one solution could be applying for an individual voluntary arrangement (IVA) from 123 Debt Solutions. We will help you come up with an appropriate debt repayment plan so you can get your finances back on track.

An IVA is plan that will help you pay off your deficits and protect you from your creditors so you don't have to worry about falling into more serious monetary problems. The way it works will depend your personal situation, as it takes information such as how much money you owe into account.

Here at 123 Debt Solutions, we tailor IVAs according to your needs, so you can be confident your plan will suit you and your finances perfectly.

We have been in the industry since 2006 and, as a result, we have good relationships with some of the country's biggest lenders. Therefore, we can provide you the best solution, in addition to offering a high quality of service.

IVAs: everything you need to know

IVAs help you pay off your debts by dividing them up into affordable regular payments. We take a look at your personal finance information, including how much money you earn, what your outgoings are and how much debt you've accumulated. Our team also examines what your responsibilities are, such as whether you are a homeowner and if you have children.

Bearing all this in mind, we come up with a tailored IVA for you to pay off your debt over a set time, typically five years. You need to have a minimum deficit of £15,000 to qualify for an IVA and, after this period has come to an end, the rest of your debt is written off.

Indeed, as much as 60 per cent of your deficit could be annulled. Other benefits of signing up to an IVA is that your debt won't increase over time, as creditors are not allowed to add interest or any other charges on to your deficit. Therefore, you could find yourself owing less each month, having your arrears frozen and not having to worry about creditors making changes to their demands.

For instance, if you owed £24,000, you could pay 60 monthly payments of £250 over five years, which means, at the end of this time, you would've paid off £15,000. The rest of your deficit (£9,000) will then be written off. 

Get debt advice from 123 Debt Solutions

When facing huge debts, it can be difficult to know who to go to when seeking advice. At 123 Debt Solutions, we offer impartial suggestions on the best way to get out of arrears.

You can speak to our friendly team if you want to find out more about our services, or if you wish to benefit from our experience in the field.

We are regulated by official bodies, including the Ministry of Justice and the Office of Fair Trading, so you can rest assured when signing up to one of our debt management solutions. You will also find a range of positive testimonials on our website, if you want to hear firsthand how we have helped other people in a similar position to you.

For more information or to speak to one of our advisors, call us on 0808 22 22 13 seven days a week or 0151 252 0111 if calling from a mobile phone.

New tax year, new finances

Get your finances sorted in the new tax year

With the start of the new tax year in April around the corner, now's the perfect time to take stock of your finances by tackling debt and starting to save. Read on to find out how you can sort out your money woes, whatever they may be!

What creditors can do if you're in debt

Creditors can potentially take you to court

If you're in debt and cannot repay what you owe, your creditors may take further action in attempt to recover the money. Often, this involves going to court. There are various ways in which you can legally be ordered to pay back your debts – read on to find out more.

Don't suffer in silence – get help for your debt problems

Don't suffer in silence - get help for your debt problems

Being in debt can be extremely difficult, particularly if you can't see a way to get out of financial troubles. However, there is always a solution at hand – you just need to seek the right advice and you can claw yourself way back into the black.

Repaying your IVA: getting the facts right

Repaying your IVA: getting the facts right

If you have taken out an individual voluntary arrangement (IVA) or are planning to, it's important you completely understand the requirements of how you have to pay it back. Here is some guidance on reimbursing your loan provider through your IVA – read on so you know everything you need to about this form of financial help.

Ways to boost your income

Ways to boost your income

Most people would happily boost their income if they knew how to. There are many ways you can increase your pay packet – from getting another job and working overtime to starting up your own business – so find out how you can take home more money by reading on.

How to cut down on your household bills

How to cut down on your household bills

Household bills can amount to a huge chunk of your income every month, so if you can find ways to reduce them, you can save yourself a lot of money. If you want tips on cutting down on your everyday living expenses, read on.









Cut Your Bills

Newsletter sign up


In addition to the weekly newsletter, which areas of finance would you like to hear from us about:

Tick this box if you would like us to send you promotions from carefully selected third parties.

By signing-up you agree to the terms of use and privacy policy.

sign-up button

Get the latest information on: