Debt help specialists

HarriettPotter

Hi there

Just a general query if anyone can help?

A mate of mine has a few debts and about a year ago took out an agreement with Payplan. He now pays a regular amount to them each month. He recently received a flyer from a company called Blair Endersby who do IVAs etc. I don't know an awful lot about these but from what he has told me and the info he has got I think he is better staying put than changing. Does anyone know any more?

H

jen_jen_2

an IVA is a form of insolvency and is an agreement which if not maintained can lead to bankruptcy.

an arrangement with payplan is likely to be less formal

both have pros and cons your friend needs to provide more details or ask payplan for advice.

IVA may be more expensive in the long run or it may cut years off the time taken to clear the debt - how long will your friend be debt free

if the IVA company is asking for money up front - do not touch it

does your friend have any assests are any of the creditors not taking payments or being awkward.