At Frost Debt Solutions, our experts are available NOW to discuss your dept problems. One phone call will help to relieve the stress and pressure you are facing. Stop the worry NOW. If you are over-indebted we have a solution to even the worst financial scenario.

We are committed to finding the best solution to YOUR particular financial problems and there are various options available:

Individual Voluntary Arrangement
If you are in difficulty managing your finances and worrying that you are getting deeper and deeper into dept, an Individual Voluntary Arrangement (IVA) can help you to break the cycle of debt. This legislation was introduced by the Government in 1986 and has helped thousands of people to regain control of their personal finances and focus on living a life free from debt and all the worries associated with debt.

Please phone us on 0845 260 0101 or contact us by e-mail on admin@frostbr.co.uk to discuss your personal debt problems. All calls are CONFIDENTIAL and WITHOUT OBLIGATION. Our staff are fully trained and sympathetic to the situation you are facing.

Benefits of an Individual Voluntary Arrangement ("IVA")
An IVA is a legal procedure which freezes the debt you owe to creditors.
Up to 80% of your debts can be written off.
Stops Bankruptcy
Free from debt in 60 months
Why pay the fees of debt management companies?

Is a Voluntary Arrangement Right for Me?

To Qualify for an IVA
Be in regular employment with unsecured debts of £15,000 plus.

Who can arrange an IVA?
Only a licensed Insolvency Practitioner can arrange an IVA.

The Procedure
We work together to prepare a proposal whereby a contribution is made to your creditors in full and final settlement of your liabilities. Typically the arrangement will last for three to five years and ensure the writing off of up to 75% to 80% of the debt.

Once 75% in value of your creditors agree, the proposal is binding upon all creditors. Once agreed, we will work with you and your creditors to ensure that the agreement works.

Bankruptcy
This is a very formalised procedure involving the Courts at a number of stages.

Where a creditor believes that you cannot repay his debt and you fail to dispute it, he can issue a statutory demand for payment. After 21 days he can then issue a Bankruptcy Petition. This states that you cannot repay your debts and are insolvent. A hearing of the petition is listed, usually at your local County Court, and if a number of statutory procedures have been compiled with a Bankruptcy Order will be made against you.

A public official, called the Official Receiver will then contact you to discuss the extent of your assets and liabilities and the Bankruptcy Order will be advertised in a number of newspapers.

For some this is the correct course and our experienced staff can assist both Creditors and Debtors in negotiating the process in a consensual and sympathetic manner.

Creditors’ Guide to Bankruptcy

Consolidation Loan
All existing debt can be consolidated into a single loan with the benefit of lower monthly repayments. But if you have debts of over £15,000 you may be eligible for an IVA and consolidation may not necessarily be the best course of action.

If you are a homeowner and need advice on consolidation loans, we have links with reputable Independent Financial Advisors regulated by the Financial Services Authority.

Debt Management
Debt management companies promise to negotiate with your creditors to try to reduce/freeze interest and charges to your account. But this will be done on your behalf for a fee.

Unsecured debt can be consolidated into one affordable monthly repayment but while lower monthly repayments may be possible you may end up paying off all your debts plus interest and costs over a significantly extended term.

This is however an as yet unregulated market and there are many unscrupulous companies around. Additionally, your creditors will not be bound by any repayment plan that may be agreed, and are free to “move the goalposts” at any time.

To ensure that your debts do not grow, call us on 0845 260 0101 to discuss whether you are eligible for an IVA.

Re-Mortgage
This is simply the replacement of an existing mortgage with a new one. A re-mortgage may be considered to release the equity tied up in your property for debt consolidation. Equity is the difference between your current mortgage and your property's value.

We can put you in contact with Independent Financial Advisors regulated by the Financial Services Authority, with access to every UK mortgage lender.
Please contact us for further details.

Informal Arrangement with Creditors
Where a formal Individual Voluntary Arrangement is not possible due to excessive cost, a cheaper arrangement with creditors can sometimes be negotiated.

If you know that you cannot pay all your debts, an informal arrangement can be used to tie you over until your financial situation improves. It is an effective short term solution. However, your creditors are under no obligation to accept an offer of reduced repayments and they can change their minds at any time. Please call us on 0845 260 0101 to discuss your situation.