An Informal Arrangement is a form of debt help whereby, if you are finding it hard to meet your current debt repayments, you enter into an agreement with your creditors on how you can pay them back. But you should call Debt Free Direct to check whether an IVA (Individual Voluntary Arrangement) or another debt solution might better serve your interests.
An IVA is a legally binding agreement, but can help to clear your debts completely after five years. An Informal Arrangement, on the other hand, is usually agreed on a temporary basis until you are in a better financial position to meet your creditors’ full repayments again.
Call us free on 0800 083 1433 to find out more.
Get the best debt advice first
When you call Debt Free Direct you’ll speak directly to one of our fully trained Debt Advisors who can offer expert, impartial advice. You’ll be able to weigh up the pros and cons of an Informal Arrangement against the benefits of other possible debt solutions such as IVAs, Debt Management, Debt Consolidation and, as a last resort, bankruptcy.
Temporary debt relief
With an Informal Arrangement, creditors usually only agree to this on a temporary basis and for a few months only. So you need to be sure that your circumstances are likely to change. Otherwise it may be better to enter into an IVA or to consider another debt solution. Call us to find out more about what options may be available to you.
Call us free on 0800 083 1433 Our phone lines are open 8am - 8pm Monday to Friday and 9am - 5pm Saturday. You can call free for an initial chat about your own debt situation.
