Insolvency Experts Ltd
Helping you get back in control of your debts
Insolvency Experts Ltd
Helping you get back in control of your debts
Free Debt Counselling
The Money Helper is an impartial service set up by government to help people manage their money.
Find out more about free debt advice, debt counselling, debt adjustment and credit information services by visiting their website.
Our Brands
What we do...
How we help people
What we do: - if you have unsecured debts over the amount of £6,000 with multiple creditors, an IVA could help you write off debts that are unaffordable.
We are empathetic, understanding, and more importantly, we are honest. We help everyone who is struggling with debt, whatever their circumstances.
We do all the groundwork and negotiations with your creditors, which means you no longer must manage the stress and burden of unaffordable debt by yourself.
For Example:
Outstanding unsecured debt: £18,567
Payments pre-IVA: £472 per month
Payments with an IVA: £133 per month
Estimated debt write-off upon successful completion of an IVA: £13,265
Our Solutions
We specialise in providing IVA's (Individual Voluntary Arrangements) but can offer advice on all debt solutions to anyone considering entering into an IVA.
DEBT SOLUTION INFORMATION
IVA
An IVA is a formal solution that consolidates your unaffordable debts into one affordable monthly payment. It will freeze interest & charges. An IVA will write off any debt you cannot afford upon completion (usually 60 or 72 months). Entering an IVA can protect you from all bailiff and debt collectors and any harassing calls, letters, emails and visits in the future. There are no upfront fees for an IVA, the fees payable are only taken once an IVA is approved and are funded by your monthly payment.
We specialise in IVA’s and can complete a basic fact find to see if you qualify and explain how it could help. As part of this, we can also give advice on all the solutions that may be available.
Bankruptcy
Going bankrupt is a big step and you need to understand all the options before pursuing this route. Unaffordable debt can be written off in Bankruptcy and you may be required to make monthly repayments for up to 3 years.
If you have any assets (such as a vehicle or property) that are considered non-essential or to be worth more than “reasonable replacement value”, these can be forcibly sold to repay some of the debt you owe. There is an upfront fee of £680 to go Bankrupt and further fees are taken from repayment made/assets sold. If you are considering Bankruptcy, we can help by answering any questions you may have and explain the alternative solutions that may be available, including an IVA.
Debt Management Plan
Debt Management is an informal debt solution that can restructure your debts allowing you to repay everything you owe at an affordable rate. There is no debt write off with a Debt Management Plan. There are debt management providers who charge fees and some debt charities who work on a fee free basis. Creditors can still take legal action and charge interest during a debt management plan. If you are considering Debt Management, we can help by answering any questions you may have and explain the alternative solutions that may be available, including an IVA
Debt Relief Order
A Debt Relief Order (DRO) is a form of insolvency for people who meet specific criteria. After an order is made, if you qualify and as long as your circumstances do not change within 12 months, debts are written off without any regular monthly payment. To apply for a DRO you must owe less than £50,000, have no assets worth more than £2,000 (or a car worth no more than £4,000) and must be able to demonstrate you cannot afford at least £75 per month to your debts. if your circumstances improve within the 12 month period, your DRO could be revoked (cancelled). You could be subjected to restrictions for up to 15 years if you have made your debt situation worse before applying for a DRO or have acted dishonestly. If you are considering a DRO we can help by answering any questions you may have and explain the alternative solutions that may be available, including an IVA.
Breathing Space
Breathing Space gives you a break from interest, fees, and court action for up to 60 days. It is a government scheme and sometimes called The Debt Respite Scheme and The Breathing Space Scheme . Breathing Space protects you while you seek debt advice and work towards a debt solution. For 60 days the people you owe money to cannot add interest to the debts, take enforcement action or chase you for payments. If you are considering breathing space we can help by answering any questions you may have and explain to whether an IVA could be a suitable solution to enter into to deal with the debts.
Consolidation
Consolidating your debts with a secured or unsecured loan could reduce the amount you pay monthly to your debts. Any further loan would be subject to credit and affordability checks. A new loan will incur interest charges which you should take into consideration. Any loan secured against a home or property should also be carefully considered as non payment could result in your home/property being sold.
Need more information? Get in touch!
Contact Us
Get in touch with us or visit our offices below
An IVA with Insolvency Experts could help put you back in control of your debts by consolidating them into one affordable monthly payment. An IVA can write off unaffordable debt and freeze interest and charges. You can't take further credit in an IVA and fees are payable. An IVA may not be suitable in all circumstances and your credit rating may be affected.
Insolvency Experts Ltd
BL1 2DD, Bolton, Greater Manchester, England, United Kingdom
Open today | 08:30 – 20:30 |
Accreditations
