Write Off Your Unaffordable Debt.
There are a number of different ways you can tackle problem debt, so it’s important to understand your options and find one that works best for your situation.
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to a debt-free future
Take control of your finances. Begin your journey to a debt-free future
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Frequently Asked Questions
Is an IVA suitable for me?
An Individual Voluntary Arrangement (IVA) is a formal debt solution that creates a legally binding agreement between you and the people you owe money to.
You may decide to enter an IVA if you’re struggling to repay the total amount of unsecured debt you currently have, but can afford to repay some. Your free debt advice consultation with RMS Financial will help you decide whether an IVA is the best solution for you.
Will a debt solution affect my partner?
Not usually. If the debts are solely in your name, your partner’s credit file or finances shouldn’t be affected. However, if you have joint debts or shared financial agreements (like a joint loan or mortgage), your partner may be impacted. It’s important to speak to your advisor to understand your specific circumstances.
Will entering a debt solution affect my credit rating?
Yes, most debt solutions will have a negative impact on your credit file and will be recorded for six years. However, if you’re already behind on payments or struggling with debt, your credit score may already be affected. A solution can help you take control and work towards rebuilding your credit over time.
What fees apply?
All advice provided by RMS Financial is free. However, some debt solutions do include fees, and will be explained in full before you commit.
Should I still pay my creditors?
Yes, you should continue making payments to your creditors until your debt solution is agreed and in place. Missing payments before then could lead to additional interest, charges, or enforcement action. Once your solution starts, payments will usually be made through your provider.