BANKRUPTCY
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Bankruptcy is a form of insolvency for people who unable to repay their debts. You will lose control of your assets but you will no longer be responsible for your debts although you may need to pay back what you can afford through an Income Payment Order (IPO) for 3 years. For further advice you can visit www.bankruptcyhelp.org.uk |
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Charges |
Services |
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| Set up Fees | Monthly Fees | Monthly Financial Updates |
Creditor Complaint Hotline | Monitor Int. Rate Negotiations in real-time | Login to client area | Advisor fills out paperwork for you | Online Customer Service Chat | |
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VincentBond * Recommended |
2 months payments Token payments are made to creditors |
15% (min £25, max £100) |
Yes | Yes | Yes | Yes | Yes | Yes |
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Cleardebt |
2 months payments | 17.63% | Update On Request | No | No | Yes | No | Yes |
| BrightOak | 1 month payment | 17.63% (min £25, max £100) |
Update On Request | No | No | No | Yes | Yes |
Fee ChargingWhen deciding on whether to choose a charity or professional company it is worth bearing in mind that you usually get what you pay for. A charity will not be as fast and efficient as a professional company (although not all professional companies provide great levels of customer service!) Check for feedback on forums or on the web before deciding who to go with.Interest Rate NegotiatingThe MOST important thing in determining how long a debt management plan will last - is not the fees - but the negotiating of interest rates down to 0. This will be the biggest determining factor in whether your debts go down (if they are not negotiated properly they may go up!). You should ask yourself which company you think will do the best job of negotiating with your creditors on your behalf.CharitiesMost of the debt charities are funded by creditors. These are the same creditors that you owe money to. Creditors fund these charities because they want you to pay as much money to them as possible without you doing an IVA or going bankrupt. However, there is a strong possibility that the charity is not going to be negotiating very strongly for interest rates to be frozen (as the charity is run by the creditors!). |
Tel: 0800 567 0056 |
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Website:vincentbond.com
Expert on our forum: click for profile |
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Notes to DMP companies: |
If you would like to update your entry in the above list
then please contact us.
Specifically please provide the following information:
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IVA CALCULATOR
- Do I qualify?
- How much written off?
- Monthly payment amount?
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Recent Coverage
 Sun "IVA.co.uk highlights PPI issue in IVAs" |
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Credit Today "Most struggling debtors don't have short-term debt problems" |
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Sun "£££s split one in two" |
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Reviews for IVA.co.uk
Latest review:
So Glad We Did It - by Guest,
19/09/2012
5/
5stars
I have to admit to being less than keen to investigate the idea of an IVA as we had already gone down the route of a DMP with another company
but this hadn't worked out. Hubby pushed for an IVA and started the ball rolling, however once we had started the process i soon realised how
beneficial this would be. Andy Davie at Vincent Bond was fantastic, he went through the whole process with us fully and explained everyhing thoroughly.
We are now almost 2 years in and haven't looked back.