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Frequently Asked Questions

At Creditfix, clarity is important to us. We have created a video series that details the most frequently asked questions we receive about our debt solutions. Hope these will answer any questions you might have.



How long does it take to set up my insolvency arrangement?


How does an IVA become approved?


What if I dont hear anything on my creditor meeting date?


What is a modification?


How does a Trust Deed become approved?


What if my creditors are still contacting me?


What if I cant access my bank account?


What do I do if I receive hassle from a Bailiff?


What if money is being taken from my wages or benefits?


What if I have been contacted by the court?


How do I pay my IVA?


What if I miss payments on my arrangement?


What if I cant afford to make a payment?


What is an annual review?


What if my circumstances change or I am unable to make payment?


What should I do if I come into money?


Can I sell my property when in an arrangement?


Can I finish my arrangement early?


When will I receive my closure documents?


Who updates the insolvency register and my credit report?

Our debt solutions


IVA stands for Individual Voluntary Arrangement. It is a formal agreement between you and your unsecured creditors, which allows you to make repayments based on what you can afford...

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IVA for a Self-Employed

As with a typical IVA, this solution involves making monthly payments to your creditors based on what you can afford each month. This type of IVA can offer a lot more flexibility...

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Trust Deed

In a Trust Deed, you make a single monthly instalment towards your unsecured debts. This is based on your income and expenditure, so is tailored to be affordable for your circumstances. You usually make...

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Debt Arrangement Scheme

The Debt Arrangement Scheme (DAS) was introduced to Scottish law in 2004. Unfortunately no equivalent solution is currently available to people living in England. As with a Trust Deed, a DAS protects...

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Administration Order

If you have a County Court Judgement against you, an Administration Order can prevent your creditors from taking further legal action against you, and protect your assets. Instead of making multiple payments...

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Bankruptcy is usually considered a last resort for people who are unable to pay off their debts in a reasonable amount of time. The bankruptcy process involves transferring control of your finances to an Official...

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Combined Experience

Our Insolvency Practitioners have over 70 years’ combined experience