The Government introduced schemes, offering help for people living in the UK who cannot keep up with their debt repayments. It has been declared that you should only pay back what is reasonably affordable per month.
Government Legislation schemes are helping thousands of people across the UK. An IVA or similar debt solution will help people pay off their debts with peace of mind.
IVA's were first launched and approved by parliament in 1986 to help people that were struggling with an alternative to going bankrupt, making it easier for people to meet their living expenses on a priority basis and then taking care of their debt repayments.
IVA's are now the most popular formal solution to clear debt. They are designed to make repayments more manageable and affordable. These schemes must be set up by a registered Insolvency Practitioner (IP) who will split your payments on pro rata basis between your lenders.
The arrangement is put together to prevent any additional interest and charges being added to your existing debt, meaning lenders can't change their mind! An IVA will normally last 60 months, and during this period you will be expected to make one affordable payment each month towards your debt. At the end of 5 years any debt that remains will be legally written off!
To ensure what you qualify for, please fill in the form above.
The debt solution that will be given to you will vary depending on your situation and circumstances. The most common solutions for people in debt are the following:
Complete the Debt Test to get confidential advice nowDebt Test!
Here is an example of how we could make your debts more affordable
Let’s say you owe:
Bank Loan £6000
Payday Loan £3000
Credit card £2000
Store Card £500
Total Owed: £13,000
Approx Current Monthly Payments: £475
NEW MONTHLY PAYMENTS: £150
Reduces monthly payments, stops pressure from lenders enabling you to also write off some of your debtMore info
Stops all hassle from lenders but this should only be considered as a very last optionMore info
We’ve helped thousands of people take control of their finances
"I would like to thank Changing Steps for everything. I am now able to continue with my life without the worry and fear that I had everyday in the back of my head! I am so pleased that I came across this website and I would personally like to thank Helen who helped me manage this when I thought there was no where to turn!"
Mr Peters on Feb 2019.
"I was struggling so much to keep up with my repayments! Everything was getting on top of me and it was even putting a huge strain on my relationship! I am now in total control thanks to you. My husband and I are so much happier now in our relationship too! Thank you from the bottom of my heart!"
Miss Field on March 2019.