Debts in the News
Pay Your Mortgage Before Unsecured Debts.
We are getting more and more enquires from homeowners looking for repossession advice. A typical situation is that they have built up mortgage arrears in order to keep up with unsecured loan repayments. [more...]

The End Of The 100% Mortgage
The Abbey, the only remaining lender to offer a 100% mortgage are to pull this offer on 9th April. [more...]

1 in 4 Borrowing To Consolidate Debt Go On To Borrow More.
A quarter of people taking out a loan to consolidate their debts go on to borrow more, according to a survey commissioned by Uswitch. [more...]

Mortgage Criteria Gets Stricter
Borrowers are finding it tougher to find a mortgage as cautious lenders continue to withdraw and change deals. [more...]

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

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