The Business Debt Advisor

Self Employed IVA Testimonial

Retailer - Berkshire

" I am very grateful to The Debt Advisor for all their help - I do not know where I would be now if I hadn't contacted them"

In October 2003 I made the decision to become self employed, leaving behind a lucrative career as a sales account manager. I was already in nearly £50,000 of debt and had been managing the minimum monthly payments.

However when I first became self employed, I overestimated my profit margins by a considerable amount. This, together with the costs of setting up a business plus some initial teething problems, meant that my debts increased by another £25,000. I was finding it impossible to meet the minimum payments. I then also found out I was pregnant with my first child.

I went onto Google, searched under 'debt help' and found The Debt Advisor straight away. A meeting was arranged and I was very impressed with their level of understanding and hopeful that I could get my debt situation sorted out without losing my business. They put together a proposal which allowed me to pay contributions out of the future earnings of my business for a period of five years, as a settlement even though it was not payment in full.

In July 2004 an IVA was agreed and a huge weight was lifted. My business is based at home; consequently I could continue to trade, look after my baby and pay off my debts within a fixed period of time, at an affordable sum. I am very grateful to The Debt Advisor for all their help - I do not know where I would be now if I hadn't contacted them.

The Next Step

All debt solutions should be very carefully considered; we will always provide you with the best advice to ensure you get a soft landing away from the burden of debt. Simply forward your details on our Contact Form and we will contact you. Alternatively ring us on our FREEPHONE ADVICE LINE 0800 085 1825 to have a full consultation with our specially trained advisors.

The Insolvency Service has produced a guide: In Debt - Dealing with your creditors, to support those who find themselves in financial difficulty during the recession.

Financial Information

All debt solutions should be very carefully considered. Fees will be charged if a solution is taken in order for us to set up and maintain your plan - all fees will be outlined during your consultation. For further information on fees, please see the FAQ section of the different solutions available. Retained payment may place you further into arrears. The Debt Advisor complies with the Consumer Credit Act and you have a right to a cooling off period of 7 days. It is likely that your ability to obtain further credit in the short term will be affected and this may also be the case over the medium to long term.