Are you trying to find clear debt advice?

Now that we're living in the 'information age' receiving good, impartial debt advice ought to be really straight forward and, with the expansion of the internet, finding information about debt help has indeed never been easier.

However, it's not really about the amount of information you can find, it's actually the quality that matters.

Quality Not Quantity

As we all know, the internet contains vast swathes of information about pretty much every subject you can think of. The problem is, much of it is unreliable at best and inaccurate at worst.

And this makes it extremely difficult to have any confidence in the quality of the information you are receiving.

In truth, you don't need an unlimited supply of information, you just need to know the information you're receiving is correct and reliable. Once you have confidence in the source of your information the safer you'll be.

Trust My IVA Adviser

The team behind My IVA Adviser have been at the forefront of combatting incorrect information on IVAs for over a decade now, and everyday we strive to help people understand the fundamental issues surrounding IVAs with clear and useful IVA advice.

We've built up a library of IVA articles to help people gather the information they need from a place they can trust.

As a result, My IVA Adviser is one of the main sources of IVA advice on the internet. Our free telephone helpline also provides hundreds of people with information they can trust.

6 Top tips

And, to help you in you quest for reliable information, the team at My IVA Adviser have put together a 'Debt Advice' check-list to help you sort out the good debt advice from the bad.

Follow these tips to reduce the risk of being given bad advice.

1. Be comfortable with the adviser that you speak to.
You ought to be able to discuss any aspect of your financial circumstances with them. Your adviser should have a good working knowledge of the different debt solutions listed below:

  • Individual Voluntary Arrangements
  • Protected Trust Deeds
  • Debt Management Plans
  • Debt Relief Orders
  • Bankruptcy

They should also be able to use their experience to emphasise the fundamental differences between each solution, whilst listing the pros and cons of each solution when applied to your individual circumstances. Only with this level of advice can you expect to be able to better your financial position.

2. Don't use a company that insists on charging upfront fees..
There are specialist debt advice companies like My IVA Adviser that do this work for free without charging anything. You should be wary of having to financially commit yourself to a company before they offer you any help. Companies like this can often be found to fall short when they actually start work on your case, which is why they want you money upfront.

3. Be sure the adviser carries out a thorough analysis of your circumstances.
To be able to advise you on which action you should take it's essential the adviser really understand your true situation, as it is right now. Be wary of short discussions followed by long welcome packs arriving through the post. They are designed to test your resolve as a potential client. Your adviser should be prepared to go through your circumstances with you, otherwise how else can they know how to deal with your particular debt problem.

4. Be sure the adviser talks through all your alternatives.
As before, this could include bankruptcy, a DMP, an IVA, a consolidation loan or if you have a property with equity, a re-mortgage. But be wary of an adviser that seems to have made up his mind as to what is best for you before he has discussed each option with you.
Remember, it's for you to decide what action you want to take, so don't be pressured into anything else by the adviser.

5. Don't be duped by advisers suggesting unrealistic repayments to your debts.
If you choose to use a DMP you will have to repay your debts in full, and the time scales which determine how long it will be before you are debt free will depend on the size of your monthly repayment. If your repayments are low, your DMP will last longer than if you make higher repayments. But remember, you should only payback what you can afford each month, no more, no less.

6. Let your instincts guide your decision.
Don't feel that any one company holds the monopoly on being able to help you. If you feel that a company is offering something to good to be true, ask them some testing questions and gauge the advisers response. Don't forget, if you are in any doubt get a second opinion. Call 0800 880 7503 and ask us what we think, or you could try us first!

If you follow these useful tips, we believe you will dramatically reduce your chances of receiving bad financial advice.

Professional Advice

If you're still not quite ready to have a chat with someone, why not try our debt calculator? This powerful tool has the ability to assess your financial position and indicate which solution would best suit your circumstances.

But, in truth, there's nothing as good as talking to someone over the telephone to get the ball rolling and the team behind My IVA Adviser have the experience necessary to help you tackle your debt problem.

So why not call for a chat about your personal situation for free on 0800 088 7503 when you get a moment or, simply complete this form and on of our advisers will call you at your preferred time.

Ask for Help

Key Information
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  • We only share select data with external parties where it is necessary in relation to the services that you have requested we carry out on your behalf, and we'll always ask for your consent beforehand, or if we are required to do so by law.
  • You can always get in touch to ask us what personal data we hold and to correct and update your data if anything changes. For an overview of your rights check out our Privacy Policy.
  • By checking the “Agreement and Consent” box you agree and give your consent for us to use your information for the purpose described.

In accordance with the Financial Conduct Authority's guidance, please follow this link if you would like to read a free guide about In Debt - Dealing with your creditors
To find out more about managing your money and getting free debt advice, visit Money Advice Service , an independent service set up to help people manage their money.

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IVAorg CIC is authorised and regulated by the Financial Conduct Authority (FCA) | Firm Reference Number (FRN) 684439