Debt Guardians

Debt Guardians: IVA-focused debt help in the UK

Debt Guardians is a debt solution provider operating under the trading style of Financial Guardian (UK) Ltd. The company presents itself as a suitably licensed provider and states that its vision and promise is to offer a safe place for people in debt to find help and support, with services delivered without jargon and in an open, honest and helpful manner. Its core specialism is Individual Voluntary Arrangements (IVAs), a formal debt solution for those who qualify that allows for affordable repayments and typically writes off a significant amount of debt.

Debt solutions offered

Beyond IVAs, the company outlines a range of options for people facing financial difficulty. These are presented as alternatives to be assessed according to individual circumstances:

• Individual Voluntary Arrangements (IVAs): a formal arrangement for those who qualify, with affordable repayments and typically a significant write-off of debt.
• Bankruptcy: guidance on whether bankruptcy is the best option and explanation of its implications.
• Debt Relief Orders: help to determine whether a Debt Relief Order is suitable.
• Debt Management: an informal arrangement with creditors allowing debts to be repaid at an affordable level.
• Breathing Space: a debt option giving temporary protection from creditors for those struggling with debts.
• Negotiated Agreement: communicating with creditors as a positive step towards solving problem debts.
• Debt Consolidation: a consolidation loan taken out to pay off existing debts and put them into one monthly commitment.
• Remortgage & Equity Release: taking multiple unsecured debts and adding them to debt secured on a property.

How the process works

The company describes a three-step route for new enquiries. First, a qualification check by phone or via an online form. Second, a consultation in which a friendly and experienced advisor contacts the person to discuss their circumstances. Third, the proposed solution, with the stated aim of helping clients keep more of their money. The website also includes a call-back request form where users can indicate a preferred time for contact, ranging from anytime to after 7pm.

Illustrative IVA example

The site provides a worked example of potential savings under a typical IVA. In the example, an applicant paying £380 per month towards debts totalling £20,500 (comprising an overdraft of £2,500, a personal loan of £7,000, credit cards of £5,000 and other includable debts of £6,000) could, after further interest and charges of £4,000 or more, face a cost to clear debts of over £24,500. Under the IVA illustration, payments of £130 per month over 60 months would total £7,800, representing a total saving of £16,700 and a repayment of 32%. The company notes that payment levels depend on the affordability of the individual applicant and are subject to creditor acceptance.

Advice centre and resources

Debt Guardians maintains an advice centre covering topics such as creditor action, the different kinds of debt, credit ratings and credit reports, and a guide to IVAs. It also offers a solution finder tool and a directory of organisations offering support and authoritative information resources. The site refers users to MoneyHelper, described as an impartial service set up by the Government providing free debt counselling, debt adjustment and credit information services. It also states that many testimonials are available on the independent customer review site uk.trustpilot.com.

Regulatory information

Financial Guardian (UK) Ltd is authorised and regulated by the Financial Conduct Authority under registration number 662403. The company is registered in England and Wales with company number 07906605 and data protection number Z318074X. Its registered address is Coppull Business Centre, Mill Lane, Chorley, PR7 5BW. The site carries standard warnings that an IVA may not be suitable in all circumstances, that fees apply and that entering a debt solution can impact your credit rating.