Need debt advice? 0800 043 3329
Open 8am-8pm M to F | Open 9am-3pm Sat

IVA UK debt management on the rise in the UK

The number of customers who are taking advantage of, or making enquiries about IVA UK debt management has risen in the United Kingdom over the last six months, as the cost of living continues to increase.

News that inflation has now hit 5.2% was revealed this morning, and the rising cost of living shows little sign of slowing down in the immediate future. Customers have been hit hardest by rising energy prices, with many customers having to put off turning on their heating well into October just to keep their heads above water.

Now that the Indian summer has ended, heating systems across the country will be needed, and those already in debt will start to faller further and further into debt as it becomes impossible to balance repaying existing loans with rising energy bills.

Customers who are more than £15,000 can take advantage of IVA UK debt management, which sees their creditors freeze their interest rates at 0%, and allows them to make affordable monthly payments over a five year period. Any debt not paid off after five years will be wiped clear, giving the customer a fresh start.

The IVA UK debt management scheme, which is government approved has been popular, and many customers see it as their only realistic alternative to bankruptcy. Those who own homes can also keep their homes with IVA UK debt management, which they cannot when they are declared bankrupt, which gives the scheme an added benefit for homeowners.

With the cost of fuel not falling, and no real advances in renewable energy in the pipeline, it looks certain that the number of people falling further into debt will increase, and the many IVA UK debt management companies already in existence could become busier and busier as Christmas approaches.

Get Debt Advice

By submitting this form I consent to the processing of my data & agree with the Privacy Policy
We will never pass your information to a 3rd party

Have some questions?

We offer an online debt chat service during our operating hours. Just click below to chat with a debt advisor.

IVA Information

Find out all about an IVA by reading our extensive information, from what an IVA is to FAQs, Advantages, disadvantages and more...

Click here
IVA Calculator

Fill in our form with your details including household income & expenses and find out what your monthly repayments might be in an IVA.

Click here
Other solutions

Find out what other debt solutions are available in the UK for helping you address your debts. When we assess your situation, we will run through all options.

Click here

" Absolutely brilliant company. Made me feel safe from the start and handled everything professionally and quickly. "

See More