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Frequently Asked Questions

We look at your current debt situation and tailor a practical, affordable and achievable debt solution to suit you and provide expert advice, while still letting you enjoy life. We’ll tailor a financial solution that helps with your unsecured debt, to take the stress away and take control of your debt.

Many people feel ashamed that their debts have gotten the better of them. There is no need to feel this way – we can help! Quite often, circumstances are to blame, and it is no fault of your own. At AFA, you will find a sympathetic and understanding team, who will talk you through your debt relief options without any judgment.

Your credit file will be affected for 6 years from the commencement of your IVA.

All we can do is see. We understand that everybody has different circumstances which is why we encourage you to always get in touch and let us know your story, let us see if we can help. We will focus on what you can afford rather than what the creditors are demanding. Most people qualify for at least one form of debt help and you will always be given information on whatever you qualify for, including ones which may result in your debts being written off completely.


There is no catch. All solutions we discuss have been around for a long time, they are just not spoken about much on either the radio or television. People usually only learn of ourselves and the solutions we recommend when they need our service. Getting debt-free can be easy and hassle-free if you look in the right places.


Once the process has started it will depend on how fast you can provide the required information. Typically, it will be between 2 and 4 weeks.

We remain in contact with the creditors and answer any queries they may have during the voting process.

Once the IVA is approved, we will confirm this in writing. Your first payment must be within 30 days of approval and monthly thereafter normally over 60 months.


Only unsecured debts can form part of your IVA so mortgage and HP payments will be built into your IVA as allowable expenses which you will need to maintain.


Homeowners may be asked to release a percentage of their equity by remortgaging their property in the final year of the IVA or, if not possible, to extend the IVA for up to a further 12 months


Your creditors will be asked to vote as to whether or not they accept your proposal. If at least 75% in value of those creditors who vote accept the IVA, then it is approved. We remain in contact with the creditors and answer any queries they may have during the voting process


Your Supervisor will contact you regularly to update your circumstances and check you can still afford your IVA contributions.

You must inform your Supervisor immediately who will reassess your situation and decide on the best course of action. If you receive any redundancy payment, depending on the amount you receive you may need to pay a portion of this into your IVA. It may be possible to amend the terms of your IVA with approval from the creditors if your circumstances have changed.

An IVA is entered on a Public Register.

You will be able to retain an inexpensive priced car and any HP payments will be built into your IVA as an allowable expense so you will need to maintain them. Any savings will have to be made available for your creditors.


On satisfactory completion you will be issued with a Completion Certificate to demonstrate that your IVA is complete.


Ultimately your creditors will make the decision and we must be able to verify your circumstances to demonstrate your insolvency.


Once your IVA is approved and the creditors have recorded this on their records then you should not have any further contact from them, other than annual statements as required by the Consumer Credit Act. They will not chase you for payment.


Your pension will not form part of your IVA but there may be a restriction on the level of contributions. If you draw down your pension whilst you are in your IVA, your circumstances will be assessed and you may be required to increase your payments into your IVA. Your Supervisor will let you know what you need to do beforehand.


You will be expected to pay any inheritance into your IVA up to the amount still due to your creditors. It may be possible to conclude your IVA early if creditors plus fees and costs are paid in full.


You will be unable to obtain further credit in excess of £500 without the authority of your IVA Supervisor

Each Arrangement is different, but the majority of IVAs are for 5 years. Once you have paid everything as set out in your proposal and you are issued with a Completion Certificate, your debts included in the IVA will be written off.


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