New data exposes a record-breaking surge in the count of individuals burdened by overwhelming debts ...
- We treat you as an individual.
- We give you comprehensive support.
- We never charge a client for our service and only deal with FCA regulated 3rd parties.
Understand Your Situation
We will ask you about your current situation so we understand what help is right for you.
We'll give you a plan to deal with your debts
You will get tailored plan of action based on your circumstances.
Connecting you to a solution
We only deal with FCA regulated companies.
To learn more about effectively handling your finances and receiving valuable advice on managing debt, you can visit MoneyHelper. This independent service was established to assist individuals in managing their money better.
Are you concerned about being in debt? The burden of debt can be highly distressing and is a prevalent source of anxiety.
Fortunately, you’re not alone, as LAMDUk is here to assist.
- You can consolidate most of your unsecured debt.
- Your repayments will be affordable.
- You will receive a honest impartial plan of action.
- Stop creditors from contacting you.
- Credit / Store Cards.
- Overdrafts.
- Debt collectors / Bailiffs.
- Loans / Finance.
- Payday / Short term loans.
Is an IVA suitable for me?
An Individual Voluntary Arrangement (IVA) establishes a legally binding agreement between you and your creditors, serving as a formal debt solution. If you find it challenging to repay your entire unsecured debt but can manage to pay back a portion, you might consider opting for an IVA.
Can an IVA affect my credit rating?
Yes, an IVA will have an impact on your credit rating as it will show on your credit report for six years after it has been approved.
However, it’s important to note this is the case for most debt solutions and your credit score will likely already have been affected by being in debt in the first place.
Once your IVA is complete you will be offered a fresh start to begin rebuilding your credit rating.
Can an IVA affect my credit rating?
Yes, an IVA will have an impact on your credit rating as it will show on your credit report for six years after it has been approved.
However, it’s important to note this is the case for most debt solutions and your credit score will likely already have been affected by being in debt in the first place.
Once your IVA is complete you will be offered a fresh start to begin rebuilding your credit rating.
Will entering an IVA affect my job?
In most cases entering an IVA won’t affect employment. However, in certain professions, such as accountants and solicitors, having an IVA may mean that you can no longer practice or you may only be able to practice under certain conditions.
Can creditors still contact me when I'm in an IVA?
Once you enter an IVA, creditors can take no further action against you and can’t contact you directly.
How can an IVA change my life?
An IVA can be a positive way to manage unaffordable unsecured debt and allow you to better manage your monthly finances.
In an IVA a single monthly payment is agreed with your current financial situation taken into consideration – this payment is then divided between the people you owe money to. During the course of your plan all interest and fees associated with your debts are frozen.
At the end of the IVA the remaining debts are written off.
What are the disadvantages of an IVA?
When you’re considering entering an IVA, it’s important to be aware of the following:
– Your credit rating will be affected.
– If you’re a homeowner you may be required to release equity from your home towards the end of your arrangement.
– Only the unsecured debts included in your IVA will be written off at the end of the agreement.
– Your IVA will be recorded on a public register
This isn’t an exhaustive list of considerations to be aware of before deciding to enter an IVA. An advisor will ensure you’re aware of the advantages and disadvantages to help you make an informed decision.
What Fees Apply?
All of our initial advice is free; however, fees will apply should you decide to enter into an arrangement.
We operate a transparent fixed fee model, which incorporates the Nominee Fee, Supervisory Fee and all costs and expenses associated with the arrangement.
Fees will be taken from your monthly payment or asset realisations paid into your arrangement.
These will be discussed by an expert advisor to make sure you are fully aware of the costs involved.
Although we offer advice on all debt help solutions available, we specialise in Individual Voluntary Arrangements (IVAs).