Debt types
✓ Write off unaffordable debt
✓ One monthly repayment
✓ Only pay what you can afford
✓ Stop creditor harassment
An IVA may not be suitable in all circumstances. Fees may apply. Entering into an IVA will affect your credit rating. You could write off up to 80% of your debts upon successful completion of an IVA.(10% of our customers wrote off 80% in the last 12 months, with a typical figure of 25%-75%).
There are many different types of debt, and listed here are some of the most common.
Most people incur debt throughout their lifetime. Lending and borrowing are part and parcel of the modern economy – it’s only when you can’t pay back your debts that they become a problem.
Manageable debts that can comfortably pay back over an agreed period are often a necessary part of life. But when debts become unmanageable, they becomes a problem. There are many ways debts can suddenly become unmanageable:-
- Redundancy
- Cut in hours
- Unemployment
- Illness, especially for the self-employed
- Unexpected costs such as unexpected home repairs
Why choose Bennett Jones?
Bennett Jones has helped thousands of people solve their debt problems. We understand how stressful and difficult life is when you can’t pay your debts and your bills.
You can trust Bennett Jones to help you if you are struggling to pay your debts. We specialise in Individual Voluntary Arrangements – a legal solution that allows for unaffordable debts to be written off. With an IVA from our team, you will make affordable repayments to your creditors over a fixed period, with the remaining debt written off at the end.
An Individual Voluntary Arrangement (IVA) is not suitable for everyone who needs help with their debts. If an IVA is not right for you we will give you free no obligation help so you can decide on the solution you need.