Questions, answered honestly

With some solutions, yes. In an IVA, any debt left at the end of the agreed term is legally written off, and how much depends on what you owe and what you can afford. Not every solution includes a write-off, and we’ll tell you exactly what applies to you.

Yes. Your first assessment and advice are free, with no obligation to go ahead. If you choose a formal solution, any fees are explained upfront, before you commit.

Most unsecured debts: credit and store cards, personal and payday loans, catalogue debts, overdrafts, and some tax debts, like council tax arrears. Secured debts like mortgages and hire purchase, student loans, court fines and child maintenance can’t usually be included.

We’ll explain whether either could fit. A Debt Relief Order has to be applied for through an approved intermediary, which is free, and MoneyHelper can help you find one. Bankruptcy you apply for yourself, online, through the Insolvency Service.

SLWB Ltd, company number 16451543, which also trades as Debt Bubble. Our licensed Insolvency Practitioner is Adam Southard, licensed by the Insolvency Practitioners Association.

An Individual Voluntary Arrangement is a legally binding agreement with your creditors to repay part of what you owe over a fixed time, usually five to six years. It’s set up and supervised by a licensed Insolvency Practitioner. Once it’s approved, interest and charges on the included debts are frozen, and what’s left at the end is written off.

It depends on your income, your essential costs and how much you owe, so it’s never guaranteed. We’ll give you a realistic idea, based on your situation, before you agree to anything.

In most cases, yes. If you own your home, you may be asked to release some equity in the final year, usually by remortgaging. If that isn’t possible, the IVA may be extended by up to 12 months instead.

Tell us. If your income drops or your essential costs go up, your payments can often be reviewed. If you come into money, such as an inheritance, you may need to pay some or all of it into the IVA.

You usually need to owe at least £6,000 of unsecured debt to two or more creditors, and be able to make regular monthly payments. You don’t need to own your home. IVAs are available in England, Wales and Northern Ireland; Scotland has a similar solution called a Trust Deed.

An informal agreement to repay your unsecured debts at a rate you can afford. It isn’t legally binding, so either side can end it. It’s flexible, too: payments can go up or down as your circumstances change, and there’s no fixed term.

Some providers charge a fee, taken from your monthly payment before the rest goes to your creditors. Free providers exist too, such as StepChange and PayPlan, and we’ll always tell you about them. Any fee is made clear before you agree to a plan.

Your creditors are asked to, and many agree once a reasonable plan is in place. Because a DMP isn’t legally binding, though, they don’t have to.

Until your debts are repaid, because you pay back the full amount. Some plans last three to five years and larger debts can take longer, but you can pay more at any time to finish sooner.

Our questions take about two minutes, and the assessment call usually takes 20 to 30 minutes. If an IVA suits you, the proposal usually goes to your creditors within a few weeks, and they get 14 days’ notice to vote on it. A Debt Management Plan can often be set up more quickly.

Nothing to get started: rough figures are fine. Later we’ll ask for proof of income, like payslips or benefit letters, your monthly spending and a list of your debts. Your last three months of bank statements help too, and we can help you gather it all.

Yes. You get a dedicated point of contact who knows your case, from the first call to the end of your solution.

A Debt Management Plan is informal, so you can stop it at any time. You can withdraw an IVA proposal before your creditors approve it, but ending an IVA once it’s in place can have serious consequences, including bankruptcy. We explain all of this before you commit.

Yes. Call us on 0161 854 0850, or answer a few questions online and we’ll call you.

No. Answering our questions won’t affect your credit score. Most formal debt solutions are recorded on your credit file, and we explain the effect of each before you choose.

Most formal solutions, including IVAs and Debt Management Plans, are recorded on your credit file and can make borrowing harder while they run. If you’re already missing payments, your rating is probably being affected anyway. We explain the impact of each option before you choose.

Yes. We handle your details under UK GDPR and the Data Protection Act 2018, and SLWB Ltd is registered with the ICO. We only share them with those involved in your debt solution, such as your creditors and the Insolvency Service, and we never sell them for marketing.

Once an IVA is approved, the creditors in it are legally bound by it and should stop contacting you about those debts. With a Debt Management Plan, your creditors are asked to deal with us instead of you. Most do, but a DMP isn’t legally binding, so they don’t have to.

Don’t ignore it. In England and Wales you should usually get at least 14 days’ written notice before a first visit, so use that time: contact the bailiff firm or whoever you owe, and get free advice from us or another adviser. Our bailiffs page explains your rights.

Not for most debts, including council tax, credit cards, loans and parking fines. They can come in through an unlocked door, so keep your doors locked. Forced entry is limited to a few cases, such as unpaid magistrates’ court fines and some HMRC tax debts.

Yes, for the debts it covers. Breathing Space gives you 60 days of legal protection in England and Wales, including from bailiff action, while you get advice. It’s free, and a debt adviser applies for you.

Call us on 0161 854 0850 for free advice, or contact MoneyHelper, National Debtline or Citizens Advice. If a bailiff is due, it also helps to call the bailiff firm or whoever you owe about a payment you can afford.

We can’t stop a bailiff on the doorstep, but a debt solution can stop bailiff action over the debts it covers. Once an IVA is approved, the creditors in it can’t enforce those debts, and Breathing Space pauses action for 60 days. Our advice is free, so talk to us about what could work.