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Hotspot Marketing Ltd work together with a number of mortgage brokers including Solution Mortgages Ltd, who are authorised and regulated by the FSA. Although Hotspot Marketing Ltd does not charge you a fee, Solution Mortgages Ltd may charge a fee upon completion. You will be advised of this fee, together with a personalised illustration of their recommendations, once they have reviewed your enquiry and spoken to you. By submitting the above information you are confirming that you wish to be contacted by an advisor from Solution Mortgages Ltd.
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Is an IDA better than an IVA?

An Informal Debt Arrangement and an IVA are solutions that are only available to insolvent debtors.

Being Insolvent simply means that you cannot afford to repay your debts each month. That is the full contractual payment and NOT the minimum payment. Do not fall into the trap of repaying minimum monthly payments and thinking you can afford your debts, because with the interest and charges applied you could be paying for up to 40 years.

	Is an IDA right for me?
	Debt Management
	The Pros and Cons of an IDA
	Alternatives to Informal Debt Arrangements
	Is an IDA better than an IVA?

Once it is determined that you are insolvent both Debt Management and an IVA become options for you.

If you are considering an Informal Debt Arrangement or an IVA, then chances are that you have a number of debts which are spread over a number of different accounts with different creditors.

With both solutions you will still only make one affordable monthly payment which is tailored to your circumstances.

Every case is unique as everyone’s financial circumstances differ. This is why Solution Remortgages have IVA and Debt Management experts who can provide you with more information and determine which is the best option for you.

Please call us FREE on 0800 520 0315 or fill in our quick enquiry form and we will call you back.

For those who are struggling with their personal finances, an Individual Voluntary Arrangement (IVA) could be a better alternative to a Debt Management Plan. An IVA is a legal procedure so a great deal of care and attention needs to be applied before making your decision.

If you want to hear more about how an Informal Debt Arrangement can work for you, or whether you would be suitable for an Informal Debt Arrangement, simply call our expert advisors on 0800 520 0315 quote ref 1533, or fill in the Mortgage Wizard to see what other solutions are available to you.

'Solution Remortgages' and 'solutionremortgages.co.uk' are trading styles of Hotspot Marketing Ltd. All information submitted to Hotspot Marketing Ltd is handled and maintained in full compliance of the Data Protection Act 1998. Hotspot Marketing Ltd works closely with a number of Lenders, Brokers (including; Solution Mortgages Ltd), Debt Management Companies, IVA Insolvency Practitioners and Debt Advice Centres. Privacy Policy.

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