Debt Free Wales are committed to offering the best possible advice. Through our network of Independant Advisors, Chartered Accountants & Insolvency Practitioners, we are able to advise even in the most difficult of circumstances.

Your situation will be assessed by highly qualified individuals with one simple aim - to develop a unique solution for your circumstances. Remember, we're not here to judge you, only to help. The sooner you call, the sooner we can start to help you with practical advice and support.

These solutions could include:

Individual Voluntary Arrangements (IVA's)

If you have a substantial amount of unsecured debt (usually around £15,000 or more) an Individual Voluntary Arrangement, or IVA , could be your best solution.

It acts as a legally binding agreement between you and your creditors, effectively freezing interest charges and setting an affordable monthly payment amount over an agreed fixed period (usually 5 years).

The benefits of an IVA are

Frozen interest payments and an agreed monthly payment amount

A fixed repayment term (usually five years)

Protection from action by creditors or debt collectors

When the IVA is completed any unpaid debt is written off

An IVA avoids bankruptcy and any adverse publicity

Best of all, you know where you stand, what you have to pay each month - and for how long.

Typically you will have:

£10,000 - £15,000 or more unsecured debt

3 or more creditors

£200 or more surplus income per month

You could be debt free within 60 months.

Re-mortgaging

It may be that there is enough equity in your property that a re-mortgage can be arranged to finance your debts. Through our network of specialist providers, DFW will be able to put you in touch with people who are sympathetic to your circumstances and will provide you with the financing solution you need.

Bankruptcy