Government Debt Advice

Find Out About Government Help With Debt

Debt Management Companies
Student Money Guide
Debt Settlement
Apply For IVA
How To Go Bankrupt
Government Debt Solution
How To Negotiate Debt
Borrow Money/Loans
Home Budgeting Software
Free Budget Worksheets
Online Gambling Debts
National Debt Helpline
Direct Payday Lenders

To Advertise On This Site Please Contact Us

Debt Negotiation Guide:

Stage One
Contact Creditors

Stage Two
Prioritise Creditors

Stage Three
Financial Statement

Stage Four
Make Offers

UK Debt Help: Get Debt Help with 123 Debt Solutions

Popular Pages:

Debt Management:

How Do I Consolidate My Debts

Debt Consolidators

Debt Management Firms

Debt Management Counselling

Free Debt Management Plan

Debt Management Programme

Debt Management Helpline

Debt Management Schemes

Consumer Debt Management

Online Debt Management

How Can Debt Management Help You?


How To File Bankruptcy

Bankruptcy Rules

Bankruptcy Questions

IVAs And Trust Deeds:

IVA Debts

Individual Voluntary Arrangement Bankruptcy

IVA Or Bankruptcy


Information On IVA

Individual Voluntary Arrangement UK

IVA Debt Solutions

Debt Advice IVA

IVA Debt Solution

IVA Credit

IVA Insolvency

IVA Remortgage

What Is IVA

Scottish Trust Deeds

Trust Deeds Scotland

General Debt Advice:

Self Help Debt

Write Off Debt

Debt Written Off

Sample Settlement Of Debt Letter

Free Sample Letters To Creditors

Bailiffs And Council Tax

County Court Claims

Debt Limitations

Mortgage Shortfalls

Money Saving Techniques

Christian Debt Solutions

Government Debt Advice

Government Debt Management

Unclaimed Money For Free

Scottish Debt Advice

Debt Specialists

Clear My Debt

Free Printable Budget Worksheets

Personal Financial Statement

Doorstep Loans

Do It Yourself Debt Negotiation

123 Debt Solutions Reviews

Approved Debt Solution

Payday Loans

3 Month Payday Loans

Compare Payday Loans

Instant Payday Loans UK

Online Payday Advances

Payday Loans Lenders

Payday Loans No Credit Checks

Payday Loans With Bad Credit

UK Payday Loans

Urgent Payday Loans

Help To Consolidate Payday Loans

Private Bad Credit Lenders

Learn the most cost effective way to make a will online.

How To Access Government Debt Advice

See Also The Following Related Pages:

Government Debt Management
Best Debt Management Plans
Advice On Using An IVA
About The IVA Debt Solution
Scottish Protected Trust Deeds

Government Debt Advice

The UK Government does not directly provide debt advice, but they have taken steps to help people in debt through legislation intended to make it easier to deal with serious debt. One of the changes the government made was through the Insolvency act of 1986, which introduced the individual voluntary arrangement, known as an IVA.

Despite the fact that there is not really such a thing as government debt advice, they did create the IVA specifically to provide a way of eliminating serious debt without having to declare bankruptcy. The IVA does not exist in other countries and by introducing this scheme the UK government have allowed thousands of people to write off large parts of the debts and escape the lasting stigma that bankruptcy brings with it.

Government Debt Advice - What Is An IVA?

An IVA is a formal and legally binding agreement originally introduced by the government to give businesses an alternative to bankruptcy. It has since become much more broadly applied and is now widely recommended by specialist debt advice companies where a significant amount of unsecured debt in is involved.

An IVA Debt Solution is only suitable for certain circumstances as it was designed by the government to address particularly severe debt situations. It cannot simply be used because you would like to. The formal and legally binding nature of the agreement means it should not be entered into without very serious consideration. Informal agreements, such as debt management plans, are easy to get out of if you change your mind or if your circumstances alter. With an IVA you sign up for a set period and it is not so easy to change your mind about.

What Can An IVA Do For You?

The main thing that an IVA can do that other debt solutions cannot is to write off a large part of your debt. There are some situations where the expert debt advice you are most likely to get is that the only way to ever be debt free is to find a way to wipe out a substantial portion of the debt. This is because the relationship between the amount of debt and your available income is too far out of step. There comes a point when the amount you can use to pay towards your debts still means that you effectively take forever to repay the full amount.

This is clearly not tenable so something has to give. The government brought in IVAs to address this situation by allowing you to make a regular payment that you can afford each month for a fixed period, after which you are debt free. The money you pay goes towards your creditors, but any debt remaining at the end of the IVA has to be written off and the creditors are not allowed to pursue you for that part of your debt. An IVA will normally last for five years, so you know exactly when you are going to be debt free again.

One attraction of the IVA is that unwilling creditors can be made to join in with the IVA even if they do not want to. Provided that you have the agreement of 75% of your creditors, by value of your debts, then any others have no option but to join it too. Another big plus is that you will not be bothered by your creditors again. Your creditors have to go through your trustee, and cannot contact you direct to chase you for money. This in itself can be a huge benefit if you have been used to constant phone calls by creditors and debt collection agencies demanding payment.

Government Debt Solution For Scotland

IVAs only exist in England, Wales and Northern Ireland, but Scotland has its own very similar equivalent called a Trust Deed. These work in very much the same way, though some of the details vary. The main principle is the same, in terms of paying what you can for a fixed period, though with Trust Deeds that period is normally only three years, rather than the five year span of a typical IVA. Also, you only need the agreement of two thirds of your creditors for the agreement to be binding on the others.

Other Forms Of Governmental Debt Advice

It is important to also remember local government and the part that local councils sometimes play in providing debt advice. Again local government does not tend to provide direct debt advice, but they often include useful information on their websites, which sometimes include guides to dealing with debt and saving money.

The other indirect way local government helps provide debt advice is through grants to organisations such as the Citizens Advice Bureau. Such organisations could not exist without the support of local government at district council and county council level.

Apply For UK Debt Help Now

Complete This Simple Online Form For A Free Review By An Advisor From Our Recommended Debt Company, 123 Debt Solutions

Just submit the form and an advisor will get straight back to you

You Can Use This Form To Apply For Debt Management Plans, Debt Consolidation Loans,
IVAs or Trust Deeds

Whatever the nature of your debt problem, it is worth checking to see which solution could work for you.

Please Only Submit If You Are A UK Resident

protected by copyscape

Your home may be repossessed if you do not keep up repayments on a mortgage, loan or any other debt secured on it. Think carefully before securing other debts against your home.