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If you are suffering from financial difficulties your first point of call maybe the internet. Simply type in ‘Debt’ on Google and you will see a bewildering array of companies promising to sort out your debts and wipe of vast amounts off the money you owe. But what do all these mean? Well, due to the nature of how debt solutions work, not a great deal.

As an exercise before writing this article I typed in Debt on Google.co.uk and had a look at the results. The first thing that grabbed me was the outrageous claims made by some companies in the advertising. The most common way of inciting people to click on an ad is to extol the virtues of IVA’s. IVA’s can wipe off large amounts of debt, however the claims made by some companies are utterly unrealistic and serve only to get clicks and hopefully get people to contact the company. Some companies were advising they could wipe of f ‘95% of your debts’….utter garbage. Theoretically this is true, however in the entire history of IVA’s a debtor has never successfully proposed an IVA that only paid back 5% of the total debt. The most common amount advertised was 75% off debts wiped off. This too is perhaps a little unrealistic, most creditors look for at least 35p in the

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