Debts covered by an IVA or Debt Management
Debts other an only those from unsecured borrowing maybe included in a Debt Management or an IVA. Below is a list of debts that we can help with.
Unsecured loans
Meaning, loans not secured on a property or subject to a hire purchase agreement.
If you fail to make hire purchase payments, for example on a car, then the hire purchase company can repossess it. If you have borrowed money from one source, such as your bank then used that money to buy a car elsewhere, then the loan is not secured by the car so it can't be repossessed. This is therefore an unsecred debt and can be included in debt management or an IVA propsal.
Some items bought on credit.
Depending on the credit agreement, goods bought on credit will normally be taken back if you fail to keep up with repayments. There are execptions, where it is inpractical to return the goods, for an example a fitted carpet, or a cunsumable, that has been consumed.
Overdrafts
Any overdraft with your current bank if just loan by another name and can be included in debt management or an IVA. However, if you get your wages paid into an account held at a bank you have debts with whether it be an overdraft or other unsecured loan, you will need to arrange for those wages to be paid elsewhere. This is because the bank has the right to offset, meaning it can help itself to money in one account to pay into loan account.
For more information see why you should avoid debts with your bank.
Credit Cards
Store Cards
County Court Judgements
Debts already subject to to a CCJ or other Court Order.
Solicitors Fees
Only if they are no longer acting on your behalf.
Vets, Doctors, Dentists, School Fees
Only if no longer using the service.
Mortgage shortfall
Not your current property, but one you sold for a loss or has been repossessed.
Hire Purchase shortfall for car
Only if you no longer have vehicle or have had it repossessed or have voluntarily surrendered back to finance company.
Department of Works and Pensions
Overpaid council rent, benefits or social loan, Only if your no longer in receipt of benefits.
Private landlord rent
Only if you are no longer living at the property.
Utility bills from previous address(s)
Only if you have a new supplier. If you have same supplier at your new address you must come to a direct arrangement with the supplier.
Disconnected mobile phone bills
Business debts
Only if the business is no longer trading or debts for which you are personally liable.
Catalogue arrears
Only if no longer using the service.
Shopacheck, Provident, Greenwoods
Plus other doorstep lenders.
There are other debts we can help with, but this will depend on their type and your personal circumstances.Any service that your are no longer using for which money is outstanding has the potential for inclusion in a debt management programme.
Please Contact Us for advice specific to your circumstances.
Debt not covered by Debt Management or IVA
- Secured Debts
We could help you find a remortgage, but can't include this in an IVA or Debt Management plan - Council Tax Arrears
- Any fine or penalties imposed by a court
- Liabilities arising under an order made in a family or domestic court action such as CSA claims for child support.
- Liabilities arising under a confiscation order made under S.1 of the Drug Trafficking Act 1986 0r S.71 of the Criminal Justice Act 1988.