An Aqua Card makes up one of my Debts. In terms of how much I owe, my Aqua Card Debt is at the lower end of my debt scale. I did have the Aqua Card for several years before I fell into arrears. This post explains what happened when I didn’t pay my Aqua Card…
In the UK an IVA is an Individual Voluntary Arrangement. An IVA is a formal agreement between you and your creditors. An IVA is usually appropriate for someone who cannot make their regular monthly repayments, but is able to make a smaller payment after paying other expenses. An IVA proposal details how you will repay…
In the UK, a Default Notice is issued when the relationship between you and your creditor has broken down. In simple terms, it means you’ve fallen behind on your repayments and the lender is now formally warning you that the agreement is at risk. This usually happens after three to six months of missed or…
This post is a guide to help you with setting up a Debt Management Plan. A Debt Management plan is an informal arrangement between you and your creditors. It can help you with getting back in control of your finances. I am currently using a Debt Management plan myself and have found it to help me with…
An Income and Expenditure Form is an overview of the following: – Details about the Income you receive. Information about your expenses. A list of your creditors and how much you pay them. An income and expenditure could also be called a Financial Statement or Statement of Affairs. The Income and Expenditure Form available at…
This page contains a Sample Offer of Repayment Letter template. You would normally use this letter when you have some money available to make an offer of payment to your non-priority creditors. This letter should be changed with your own information. The parts you should change are in bold text. There is also a link at…