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As people reach their 50s, they may encounter several financial challenges. These include inadequate retirement savings, high levels of Debt Over 50, health care costs, age discrimination in the workplace, caring for ageing parents, and divorce. These issues can be complex and daunting, but careful planning and management can help tackle them successfully. Here are […]
Debt Over 50? Learn How To Get A New Lease on Life Read More »
An Individual Voluntary Arrangement (IVA) is a debt solution which can help someone manage their debt problem. If you are thinking of getting an IVA to consolidate your debts into affordable monthly payments, then it is important to look at how this will impact your personal as well as your financial life. Getting an IVA
IVA Help: Will an Individual Voluntary Arrangement (IVA) affect my credit rating? Read More »
An Individual Voluntary Arrangement (IVA) is only available to individuals in debt; however, what happens when you and your partner want to deal with your debts together? Can you apply for a joint IVA? A Joint IVA technically doesn’t exist; interlocking IVAs are similar and available. So, what are interlocking IVAs? How does the application
IVA Help: Can I get a joint IVA with my partner? Read More »
Creditors have a right to demand payment from you if you fall into debt. A statutory demand is a written demand by a creditor to repay a debt which is owed by an individual or a business. A statutory demand is often issued after a creditor has tried on numerous occasions to try and recover
A Guide to Statutory Demand: What is it and what to do if you get one? Read More »
Depression. Anxiety. Stress. These are all words we are hearing more of recently, regarding mental health. Covid-19 and now the cost-of-living crisis has provided a catalyst for these conditions to intensify. So, what happens when mental health starts to affect your life and the way you manage money? Research shows that 50% of adults who
UK Guide to Writing Off Debt Due to Mental Health Read More »
If you are struggling with debt, Breathing Space is a free scheme, backed by the UK government to help ease the stress caused by being in debt. There are two types of Breathing Space Schemes, which include the standard Breathing Space Scheme and the Mental Health Crisis Breathing Space Scheme. In this section, you will
Ultimate Guide To The Breathing Space Scheme: Everything you need to know Read More »
When businesses face the challenges of poor cash flow and owe unpayable debts to creditors, the directors may choose to pursue a Creditors Voluntary Liquidation (CVL). Compulsory Liquidation is when a company is forced to liquidate by a court. The company’s shareholders instead agree upon a CVL as the best course of action to dissolve
Ultimate Guide To CVL – Creditors Voluntary Liquidation Read More »
You may have received a letter telling you that the bailiffs have been instructed to your property. When you are already worried about money issues, the thought of the bailiffs visiting your home does sound scary. However, did you know that you have rights as well as the bailiffs when it comes to collecting a
Help and Advice: How to deal with Bailiffs Read More »
Death is not a subject we want to hear or talk about, but when it happens, the financial aspect like inherited debt is just as challenging to deal with as the emotional one. So, what happens when a deceased person has debts? Who inherits the debts? The list of questions can often be overwhelming and
Debt and Death: Top 20 Questions Answered on Inherited Debt Read More »
Your credit score is often known as your financial health check. It is important to keep your credit score at a level that lenders find suitable to lend to you. However, when you start missing important payments on personal loans, credit cards and even your mortgage, your credit score is impacted negatively. This means that
Debt and Credit Score: Everything you need to know about your Credit Score Read More »
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Money Advisor and Moneyadvisor.co.uk are trading styles of DebtMoney Advisor and Moneyadvisor.co.uk are trading styles of Debt Correct; Debt Correct are authorised and regulated by the Financial Conduct Authority FRN: 663034 and can be found on the FCA register. Debt Correct is also licensed by the Information Commissioners Office (ICO). Licence No: ZA277704. Our registered office is 6 Hind Hill St, Heywood, OL10 1JZ.
Debt solutions such as IVA, Debt Management, DRO and Bankruptcy will have a negative impact on your credit rating. As part of our service, we’ll look at your financial situation, explain the available options, and then recommend a debt solution which could be suitable for you. Depending on the solution, fees may be involved, which would be fully explained, and details provided in writing.
Should we determine an IVA is the most appropriate solution for you, we will pass your case to The Insolvency Group. Tracey Howarth (IP No: 16410), Mike Reeves (IP No: 7882) and Donald Harper (IP No: 9296) are licensed as insolvency practitioners in the UK with the Insolvency Practitioners Association.
“In the last 12 months, our IVA partner The Insolvency Group achieved a write-off of 70% or more of debts on over 50% of its cases.” Dated 10/07/2024