Unfortunately, Insolvency Companies routinely state that anybody that does not work in their interest are a ‘scam’. This is certainly not the case.

An Insolvency Company is a business, just like any other. Your arrangement is worth a substantial amount of money to them, with the average IVA being worth £4000-£6000. Therefore, agents are trained to ensure that you stay on their books and see your IVA through to completion.

SettleMyDebt are a firm of chartered accountants and will always act in your best interests. We will never tell you to pursue a route that does not have a prospect of success.

1 year (12 months)

A DRO will be able to take over any of the debts that have been entered into your IVA – as well as any other debts that you may have forgotten to put into the arrangement previously.

Debts that cannot enter a DRO are:

• Child maintenance or anything you owe under family proceedings
• student loans
• budgeting and crisis loans from the Social Fund
• debts secured against any possessions you own
• damages for personal injury or death a court has ordered you to pay
• unpaid TV licence fees

Unfortunately, Insolvency Companies routinely state that anybody that does not work in their interest are a ‘scam’. This is certainly not the case.

An Insolvency Company is a business, just like any other. Your arrangement is worth a substantial amount of money to them, with the average IVA being worth £4000-£6000. Therefore, agents are trained to ensure that you stay on their books and see your IVA through to completion.

SettleMyDebt are a firm of chartered accountants and will always act in your best interests. We will never tell you to pursue a route that does not have a prospect of success.