Alternatives to an IVA

The Debt Helpline can advise you on a number of IVA alternatives. To speak to our specialist debt team, contact Debt Helpline free on 0808 131 9113.

IVA Alternatives from Debt Helpline

If you are struggling with debts but feel as though an IVA is not right for you there are IVA alternatives for you to consider. The Debt Helpline can advise you on a number of alternative solutions, including:

• Debt Management Plan - Best suited to those with lower level debts. We arrange for you to make a reduced monthly payment to your creditors.
• Secured Loan - A secured loan could consolidate your unsecured debt into one smaller payment. But this type of loan will be secured on your house, so you should always ensure that you can afford your loan payment.
• Trust Deed - The Scottish alternative to an IVA. Unaffordable debt is still written off and you pay back a monthly payment over an average of 36 months.
• Remortgage - You could potential remortgage your home to pay off your unsecured debt. But, like a secured loan, it is important that you know you can afford your new payment.

The above are all potential alternatives, but it is always advisable to talk with someone first so you are fully aware of all your options. Contact Debt Helpline today on 0808 131 9113

Entering into an IVA may adversely affect your credit rating for up to six years from the date of approval.

Your property will be protected within an IVA but you may be required to release all or part of any equity during the period of the arrangement.

Failure to complete the term of an IVA can result in bankruptcy.

(In Scotland, a PTD is the equivalent to an IVA.)