Debt Solutions

 

Are you in financial difficulty?

At ApplyToday.co.uk we can help you come to terms and deal with your finances and recommend the best solutions that are tailored to each individuals needs.
 

How we can help

Individual Voluntary Arrangement (IVA)

• Ideally suited for debts over £15000
• Write off a percentage of the overall debts
• Debt free within 3 – 60 months
• Safeguards House & Car and avoid the consequences of bankruptcy

Monthly Contribution IVA

This is where the individual offers monthly voluntary contribution payments for a period of up to five years. The amount that is offered is whatever the individual can reasonably afford, can be as little as £250 per month and will usually be substantially less than the debt repayments that were previously being paid. At the end of the five year period the IVA is concluded and the remainder of the creditors debts are written off.

Full & Final Settlement IVA

An alternative to a voluntary contribution IVA, the full & final settlement IVA involves the payment of a one off lump sum in full settlement of the debts. Such a proposal may be suitable where a family member is prepared to make a one off payment that generates a higher dividend than if monthly payments were made or where there is equity in a property that can be re-mortgaged. A full & final settlement IVA may be attractive to creditors, as it will enable them to be paid in a matter of months rather than waiting for up to five years.

Debt Management Plans

A Debt Management Plan is tailored to help an individual make reduced repayments to their creditors over a number of years. Repayments are based on what is affordable to the client after income and expenditure have been calculated.

• Ideally suited for debts between £3000 - £15000
• Relatively easy to set up
• Fees & Interest may continue from creditors
• Allows reduced payments to be made over a number of years