You may have received a letter threatening legal action over an unpaid council tax bill. Perhaps you’re frightened of answering the door in case the bailiffs come calling.
Eventually unpaid debts have a way of catching up with you, and when they do it’s horrible. Aunt Meg understands the stress and worry that debt letters and court orders can cause.
Often it’s the families that are trying hard to keep their heads above water that are hardest hit. Out of the blue comes a threat of bailiffs, imprisonment or losing your goods and you don’t know where to turn.
Fortunately, Aunt Meg is here for people just like you.
You’re not alone
Over the past 10 years, wages and benefits have stagnated while the cost of living has soared. Despite the official figures, we all know that council tax, electricity and public transport is way more than it was 10 years ago.
Hardest hit are families with only one parent. If there are children to care for, even part-time work can be difficult to fit in.
Charities report an ever increasing number of families seeking help with long standing debt that they simply can’t get out of.
Essential bills such as council tax, rent and energy are the most common debts. As these are considered “priority debts” the courts act swiftly and use their legal powers of enforcement to obtain repayment.
So what’s the answer?
How can an IVA or Trust Deed help?
An Individual Voluntary Arrangement (IVA) or Trust Deed is an affordable legal answer if you genuinely cannot meet your debt, especially if you are in arrears with your council tax or utility bills.
Our specially trained counsellors at Aunt Meg can contact the creditors on your behalf and see whether an IVA or the equivalent Trust Deed (in Scotland) can be agreed.
The great thing is that the moment Aunt Meg gets on your case, all threatening letters and bailiffs enforcement orders are put on ice while a debt repayment agreement is worked out. Imagine the relief after weeks and months of worry and stress.
Generally an IVA is only suitable for debts totalling at least £6,000. Interest and charges will be frozen and once in place, you will not be forced to sell your home. An IVA usually last for 60 months (5 years) and at the end of the term, any outstanding balance will be cancelled – forever.
IVA or Bankruptcy?
The key thing about an IVA is that unlike bankruptcy it is unlikely to affect your employment and you will not be blacklisted by credit agencies in the long term.
If you keep rigidly to the repayments you can rebuild your credit rating as your IVA comes to an end. However, the penalties are severe if you break the deal.
We don’t always get second chances in life, but sometimes an IVA or Trust Deed offers the chance to sort out your finances and start over.
You cannot arrange an IVA yourself; you need a debt counsellor to negotiate with your creditors on your behalf. Aunt Meg is exactly that – a fairy godmother, a shoulder to lean on and a canny legal advisor who’s on your side.
Call us today and discuss how to begin ridding yourself of debt – forever.