Our IVA debt solution is
fast, easy, and FREE!

Call the IVA Helpline: 0800 195 9399

Call the IVA Helpline: 0800 195 9399
Our IVA debt solution is
easy, tested and proven…
and it’s FREE!

How am I going to solve my debt problem?

If you’ve found this page, you’re most likely looking for a solution to a debt problem.

There are many reasons that this might have come about – it may be simple, or it may be complicated, but it doesn’t matter.

We are just interested in helping you get back to a position where all of your available income isn’t used up repaying debts, or even worse, you’re borrowing more money to keep up repayments.

We understand that the prospect of paying everything off seems impossible, and the stress and hardship increases as time passes, but you are not alone – hundreds of thousands of others are struggling with exactly the same problem.

The IVA – a government-backed scheme

The government recognises this and have set up a scheme to help, known as an Individual Voluntary Arrangement (IVA).

If you are eligible (and we are here to assist you with this) an IVA will (a) reduce your total debt and combine repayments to all of them into one, much smaller, monthly amount, and (b) set a time period – usually five years, sometimes six – at the end of which all remaining debts are written off, and there is nothing more to pay, everything is cleared.

During that period, you are protected from your creditors – they may not harass you or demand any money other than what they will receive under the IVA.

For your part, you undertake to keep up the single, low, monthly payment agreed at the beginning of the IVA, and not take out any further credit.

  • If you fail to keep the payments up without good reason, the IVA may be cancelled and you are then once again liable to pay off the remainder of the debts in full.

At the end of the period, you will have had a large proportion of your debt written off, paid off the rest and be debt free. You will have replaced years of monthly anxiety and hardship with the certainty of a single, low monthly payment, and an end to your debt problem.

Is an IVA the best solution?

Depending on the amount that you owe and the number of people you owe money to, an IVA may not be possible. Generally, your debts must be over £7,000, owed to two creditors or more.

If you are employed in the legal or financial professions, taking out an IVA may affect your employment.

Who will know about my IVA?

The details of the IVA are not published in any newspaper or periodicals, unlike bankruptcy, for example. Only the people who you owe money to will be notified of your IVA, you do not need to tell your bank about the arrangement unless you owe them money.

Take the first step towards solving your debt problems today

We will guide you through the process of applying for your IVA.

We do not charge you for our service and you are free to change your mind and deal with your debts in another way at any time before the IVA commences.

You can start the process straight away by emailing us at iva@equitablesolutions.co.uk, or telephone 0800 195 9399.

What are my other options?

Do nothing

If you don’t keep up with your payments as they become due, missed payments will appear on your credit rating. This is a record that is kept by organisations which track your repayment history and is available to anyone who you apply to for credit.

When missed payments are recorded on your credit rating you are unlikely to be given further credit by a new lender, and furthermore, existing lenders will be alerted that you are in difficulty.


Bankruptcy is a legal status and form of insolvency whereby all of a person’s debts are written off.

One of your lenders may decide to apply for a bankruptcy order to recover the amount owed to them.

This means that any assets you have, including your car and home, if owned, will be sold in order to pay off some of the amount you owe.

Bankruptcies may be publicised in local press and will show on your credit report.

You can elect to file for bankruptcy yourself.

Bankruptcy is an option if you are in severe financial difficulties. It may be suitable if you don’t have the means, at present or in the foreseeable future, to pay them off in a reasonable amount of time.

However, it will normally cost you £680 and the court will normally make an order that you have to pay some of your income in for the next three years

Bankruptcy isn’t a permanent status, it usually lasts about a year, even if you’re still paying into it after that. It can affect your ability to obtain credit for a longer time into the future, so shouldn’t be taken lightly.

However, it could be the right option as a way to clear debts and make a fresh start.

Debt Relief Orders

Debt Relief Orders (DRO) are a formal insolvency process for people with no assets, low income and no prospect of being able to clear their debts.

If you meet all of the following criteria you may be eligible:

  • you owe less than £20,000
  • less than £50 a month spare income
  • less than £1,000 worth of assets
  • lived or worked in England and Wales within the last 3 years
  • not applied for a DRO within the last 6 years

A DRO can only be organised through what are known as a “competent authority” and there is a £90 fee. The Citizens Advice Bureau can put you in touch with a DRO Adviser who can help you. The Official Receiver will make the final decision as to whether you are eligible for a DRO. You must follow rules called ‘restrictions’ if you get a DRO. This means you cannot:

  • borrow more than £500 without telling the lender about your DRO
  • act as the director of a company
  • create, manage or promote a company without the court’s permission
  • manage a business without telling those you do business with about your DRO

If you want to open a bank account, you may also have to tell the bank or building society about your DRO.

A Debt Relief Order will stay on your credit records for six years.

If you’d like to discuss any of these options please get in touch. We’ll give you honest, friendly and impartial answers.

Take the first step towards solving your debt problems and taking control of your finances.

You can start the process straight away by emailing us at iva@equitablesolutions.co.uk, or telephone 0800 195 9399.

There’s a quick guide to see whether you’re eligible for an IVA here.