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Debt Help

Write off up to 81% of your debt with an IVA

Specialist legislation can help you

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Individual Voluntary Arrangement

An Individual Voluntary Arrangement (IVA) is a formal and legally binding agreement between you and your creditors to pay back all or part of your debts over a period of time at an affordable rate.

Set up and managed by an Insolvency Practitioner (IP), an IVA is a form of insolvency which allows you to write off up to 80% of unsecured debt and offers an alternative to bankruptcy.

In Scotland, the equivalent solution is called a Protected Trust Deed.

Debt Management Plan

If you have missed a few repayments and need help getting back on track, then you might want to consider taking out a debt management plan.

If you are finding it difficult to keep on top of your credit card debt, loans, and store card repayments, then it is time to take charge of these finances before they spiral out of control.

Our dedicated team will talk you through everything you need to know about debt management plans and whether it is the right solution for you to tackle your existing debt problem.

Also see the Debt Arrangement Scheme, a Scottish solution with many of the same advantages as a Debt Management Plan, but with extra legal protection.

Debt Relief Order

Bankrupcy. A debt relief order (DRO) is one of the debt solutions available to you, if you have a debt of £30,000 or less, your maximum disposable income is £75, and you do not have assets (including property and vehicles) or savings and investments worth more than £2,000.

As with most debt solutions, applying for a debt relief order has certain merits and drawbacks. Whether or not a DRO is suitable for you depends on your personal circumstances and financial situation. That is why it is important to get debt help before you go for a debt relief order.

How does it work?

UK residents have a right to debt help and there are a number of established debt solutions that can help not only write off debt but also reduce pressure from creditors and freeze interest and charges.

Legislated debt solutions such as an Individual Voluntary Arrangement (IVA) can be a positive way to manage problem debt.

An IVA offers the opportunity to write off up to 81% of unsecured debts such as credit cards, utility bills and payday loans to name just a few.

Stop the stress of bills you can’t afford
No running out of money so soon after payday
Enjoy living your life again

Debts We Help With What debt are you most concerned about?

We advise people on all types of debts. Even if you only owe to 2/3 different creditors, or have a minimum of £6,000 debt, there’s usually a solution that can be put in place for you.

Talk to P&G Finance today and see what we can do for you.

Credit Cards
Council Tax Arrears
Catalogues & Buy Now Pay Later
Payday Loans
Store Cards
Bank Overdrafts
Energy Bills
Any Other Debt

Our Reviews We've helped many people with debts. Here's some of their reviews.

Very helpful and professional, could not do enough for me and any questions I had were answered quickly and effectively, would highly recommend.

Rob

This company has been amazing from start to finish. Nothing is too much trouble and they are so understanding of your circumstances. Can not fault at all. 5* service. Thank you so much for all your help.

Christine

From start to finish Gary was brilliant!

Helped get me through a difficult time. He was kind, caring and listened to everything I asked him even the silliest of questions. Fantastic experience would highly recommend P&G Finance.

Lyndsey

Questions from other P&G Finance Customers

Is an IVA suitable for me?

An Individual Voluntary Arrangement (IVA) is a formal debt solution that creates alegally binding agreement between you and the people you owe money to. You may decide to enter an IVA if you’re struggling to repay the total amount of unsecured debt you currently have but can repay some.

Will entering an IVA affect my job?

In most cases entering an IVA won’t affect employment. However, in certain professions, such as accountants and solicitors, having an IVA may mean that you can no longer practice or you may only be able to practice under certain conditions.

What are the disadvantages?

When you’re considering entering an IVA, it’s important to be aware of the following:

If you are a homeowner and your property has equity in it, you’ll need to try to re-mortgage which could result in an increased interest rate.
Your credit rating will be affected.
Only the unsecured debts included in your IVA will be written off at the endof the agreement.
Your IVA will be recorded on a public register.

Can an IVA affect my credit rating?

Yes, an IVA will have an impact on your credit rating as it will show on your credit report for six years after it has been approved. However, it’s important to note this is the case for most debt solutions and your credit score will likely already have been affected by being in debt in the first place.

Once your IVA is complete you will be offered a fresh start to begin rebuilding your credit rating.

What are the fees?

All of our initial advice is free; however, fees will apply should you decide to enter into an arrangement. These will be discussed by an expert advisor to makesure you are fully aware of the costs involved.

Can an IVA change my life for the better?

An IVA can be a positive way to manage unaffordable unsecured debt and allow you to better manage your monthly finances.

In an IVA a single monthly payment is agreed with your current financial situationtaken into consideration – this payment is then divided between the people you owe money to. During the course of your plan all interest and fees associated with your debts are frozen.

At the end of the IVA the remaining debts are written off and you can begin your debt-free future.

It's time to take charge of your finances! Don't struggle on alone. We're here to help. Together we'll find you a solution.

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