Humber Debt Solution – Services

Organisation: Humber Debt Solutions

We will negotiate with all of your unsecured creditors on your behalf, asking for your interest and charges to be frozen and making reduced offers of payment to bring your total monthly payment to your debts down to an affordable and sustainable level.

IVAs

IVAs are a way of reducing your debts to a manageable level, without having to go bankrupt or take out any additional credit.

IVA  is a legally binding agreement between you and your creditors to pay back the money you owe with an affordable monthly repayment over a period of (usually) 5 years. The single, affordable monthly IVA repayment is based on your disposable income and budget.

During the period of the IVA, your creditors must freeze any interest on the debts, and they are not allowed to pursue the debt, or instigate any legal action to recover it.

At the end of the IVA, assuming all the requirements of the IVA have been satisfactorily met, all of the debts are cleared and effectively written off and you become debt free.

Bankruptcy

The most recognised debt solution is Bankruptcy. Bankruptcy is the most severe consequence of debt and should never be entered into lightly. For some people, however, going bankrupt may be the most appropriate solution. It can be the best way to repay what they can of their debt, write off the rest – and make a fresh start.

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Eligibility

  • Regions:East Riding, Hull, North East Lincolnshire, North Lincolnshire