Advertising Terms
Welcome to Your Debt Expert, a trading style of Carrington Dean Group Limited.
Before our experts can offer advice, however, it’s important to discuss your financial situation at length. This allows us to assess your circumstances fully and discuss all of the solutions available to you.
It’s our responsibility to ensure that you are equipped with enough information to allow you to make an informed decision on how you’d like to manage your debt.
Here we share a little more information about the solutions we offer in-house and some key details to be aware of.
If you don’t meet the eligibility criteria for any of the solutions below, or opt for another provided by a trusted partner, don’t worry. Your advisor will discuss all options and considerations on your call.
Debt solutions offered by Carrington Dean Group Limited
While we’ll discuss all debt solutions with you we only provide Individual Voluntary Arrangements (IVAs), Protected Trust Deeds and the Debt Arrangement Scheme (DAS) in-house.
Let’s look at some key points to consider before going ahead with any of these solutions.
Individual Voluntary Arrangement (IVA)
Advantages & Disadvantages
Advantages
- Lower monthly payments based on what you can afford.
- Protect assets such as your home or car.
- Unsecured debts included in the arrangement will be written off at the end of the term.
- Freeze interest on unsecured debts included.
- Stop pressure to pay from creditors bound by the arrangement.
- Our Insolvency Practitioner will distribute payments to creditors on your behalf.
- You may get a payment break if your situation changes.
Disadvantages
- pending restrictions are put in place during an IVA.
- Secured debts can’t be included.
- There’s a possibility creditors could reject the proposal.
- Homeowners may need to remortgage in the final year.
- Any windfall over £500 will be put towards your IVA.
- IVAs are recorded on the public Insolvency Register.
- An IVA will adversely affect your credit rating and appear on your credit file for six years.
Protected Trust Deed
Advantages & Disadvantages
Advantages
- Payments are lowered and based on your affordability.
- Assets such as your home and car are protected.
- Interest and charges on unsecured debts included are frozen.
- Debts included in the Trust Deed will be written off at the end of the arrangement.
- Creditors bound by the Trust Deed can’t take legal action against you.
- Your Trustee will distribute payments to creditors on your behalf.
Disadvantages
- It’s possible creditors will reject your Trust Deed proposal.
- Secured debts and student loans can’t be included.
- A Trust Deed will have a negative impact on your credit rating.
- Homeowners may need to release equity to go towards what they owe.
- You can’t be a company director during a Trust Deed.
- You’ll need to abide by spending restrictions during your Trust Deed.
Debt Arrangement Scheme (DAS)
Advantages & Disadvantages
Advantages
- Repay your debt with affordable monthly payments.
- Creditors bound by the arrangement can’t take legal action against you.
- Interest and charges on included debts are frozen.
- All creditor communication will be handled by your insolvency practitioner.
- The DAS offers an opportunity to avoid sequestration.
- Homeowners won’t be required to release equity in their home.
- You may get a payment break if your situation changes.
Disadvantages
- No debt is written off and you’ll repay what you owe in full.
- It can take several years to repay what you owe.
- The DAS will adversely affect your credit rating.
- Your arrangement will appear on the public DAS register.
- Your arrangement may be revoked if you don’t comply with the DAS conditions.
- You’ll need to abide by a struct budget during the arrangement.
- Creditors may reject your application.
Individual Voluntary Arrangement (IVA)
Advantages & Disadvantages
Advantages
- Lower monthly payments based on what you can afford.
- Protect assets such as your home or car.
- Unsecured debts included in the arrangement will be written off at the end of the term.
- Freeze interest on unsecured debts included.
- Stop pressure to pay from creditors bound by the arrangement.
- Our Insolvency Practitioner will distribute payments to creditors on your behalf.
- You may get a payment break if your situation changes.
Disadvantages
- pending restrictions are put in place during an IVA.
- Secured debts can’t be included.
- There’s a possibility creditors could reject the proposal.
- Homeowners may need to remortgage in the final year.
- Any windfall over £500 will be put towards your IVA.
- IVAs are recorded on the public Insolvency Register.
- An IVA will adversely affect your credit rating and appear on your credit file for six years.
Protected Trust Deed
Advantages & Disadvantages
Advantages
- Payments are lowered and based on your affordability.
- Assets such as your home and car are protected.
- Interest and charges on unsecured debts included are frozen.
- Debts included in the Trust Deed will be written off at the end of the arrangement.
- Creditors bound by the Trust Deed can’t take legal action against you.
- Your Trustee will distribute payments to creditors on your behalf.
Disadvantages
- It’s possible creditors will reject your Trust Deed proposal.
- Secured debts and student loans can’t be included.
- A Trust Deed will have a negative impact on your credit rating.
- Homeowners may need to release equity to go towards what they owe.
- You can’t be a company director during a Trust Deed.
- You’ll need to abide by spending restrictions during your Trust Deed.
Debt Arrangement Scheme (DAS)
Advantages & Disadvantages
Advantages
- Repay your debt with affordable monthly payments.
- Creditors bound by the arrangement can’t take legal action against you.
- Interest and charges on included debts are frozen.
- All creditor communication will be handled by your insolvency practitioner.
- The DAS offers an opportunity to avoid sequestration.
- Homeowners won’t be required to release equity in their home.
- You may get a payment break if your situation changes.
Disadvantages
- No debt is written off and you’ll repay what you owe in full.
- It can take several years to repay what you owe.
- The DAS will adversely affect your credit rating.
- Your arrangement will appear on the public DAS register.
- Your arrangement may be revoked if you don’t comply with the DAS conditions.
- You’ll need to abide by a struct budget during the arrangement.
- Creditors may reject your application.
Advertising substantiation
- The Creditfix Group has more than 25,000 Trustpilot reviews
- 93% of reviews are five stars - that's 24,545 reviews!
- The Creditfix Group has more five star reviews than any other company in the debt relief category (as of April 2023).
- A debt write off amount of between 25% and 75% is realistic, however, the debt write off amount for each customer differs depending upon their individual financial circumstances and is subject to the approval of their creditors. The 81% example has been achieved by 10% of IVA customers in the last 12 months.
- 96% of Trust Deeds reach protected status each month
