Dealing with debt can be confusing and stressful, so when Crowe UK tell you that their debt solutions will stop any creditors chasing you and help you clear your debt in a manageable way you will be keen to sign up. But choosing to use their debt services is not free, and you may wish to shop around first. Before you decide if Crowe UK debt solutions are for you, read our review on what they have to offer.
Who Are Crowe UK?
Crowe UK is an advisory and financial planning company with seven offices across the UK, including one office based on the Isle of Man. Among their many services they run a debt recovery and insolvency services, but they only offer one service for individuals rather than businesses. Crowe UK is part of the well-known Crowe Global group.
What Debt Services Do They Offer?
Crowe UK only offer one way for their clients to get out of personal/individual debt. And this is done by setting up an Individual Voluntary Arrangement (IVA), which is one of the most popular debt solutions in England.
An IVA is a type of debt repayment plan lasting five years, but it is only available to debtors with around £2,000 of debt or more with two or more creditors. It is a way to get out of large amounts of debt that seem impossible to pay off. The way they work is they commit debtors to pay monthly amounts for a long time (60 months). But in the end, all debt is wiped away making you debt free.
Some people manage to end their IVA while only paying around 10% of their overall debt. But it doesn’t matter because they become debt free when the IVA ends.
The Crowe UK Customer Experience
We looked high and low to find some customer reviews about Crowe UK’s debt solutions. But we couldn’t find relevant reviews that would be of any value for undecided debtors. As a result, we hopped on their website to evaluate how the customer experience is when trying to find services and get in touch.
We didn’t find the website very user-friendly as it is easy to miss the insolvency services among the wide selection of other offerings. The better news is that the business enables potential customers to get in touch via email and run a confidential free hotline for each of their offices. The London number is listed at the end of this post.
Crowe UK Frequently Asked Questions
We have rounded up some common questions that debtors ask about Crowe UK:
Is Crowe UK a real company I can trust?
Yes, you can trust Crowe UK to operate fairly and in line with UK financial industry regulations. They are fully recognised and regulated by the Financial Conduct Authority (FCA). This means if you deal with Crowe UK and they don’t follow the rules, you can report them and get the FCA to take action.
Why does Crowe UK only offer IVAs?
It is not known why Crowe UK only offer IVAs, especially when there are so many debt solutions out there. An IVA is one of the best ways to get out of debt if you have considerable debt and you will have to pay monthly fees for many years. It is possible that Crowe UK only offer IVAs because they are the most profitable commercial debt solution. After all, they are trying to make a profit too.
Does that mean Crowe UK can’t help some debtors?
Yes, some debtors will not be suitable to an IVA agreement because they only have one debt, or their debt is not around £2,000 or more. If you have much smaller unsecured debts, then an IVA will not be for you. The better news is that there are plenty of other debt solution providers who will be able to help you. We have reviewed many of them on Money Nerd.
Will my Crowe UK IVA definitely be accepted?
Even if you are suitable for an IVA, Crowe UK cannot say for certain that your agreement will be accepted. You might have a considerable debt spread across multiple creditors, but if you cannot make monthly repayments that your creditors find acceptable then they will reject the IVA. Crowe UK should be able to judge your situation and give an indication if they can help, but they can never 100% guarantee you an IVA.
Interestingly, not all of your creditors have to vote for the IVA for it to be accepted!
Will a Crowe UK IVA automatically stop creditor calls?
When you do get a Crowe UK IVA, your creditors should stop sending you notifications for payment or threatening CCJ letters. But due to administration mistakes and automated letter sending technology, this might not happen instantly.
How expensive is a Crowe UK IVA?
A Crowe UK is not going to be cheap because you will pay a fee on top of your repayments. This fee to Crowe UK will be paid for the duration of the IVA which could amount to thousands of pounds.
Who is cheaper for IVAs than Crowe UK?
Other commercial debt solution providers may be able to provide you with an IVA at a cheaper cost. Just like when you shop for a new jumper or new TV, it is always best to look around before choosing a debt solution.
Do Crowe UK London offer free debt advice?
There is no indication that Crowe UK offer free debt advice. This can be found with UK debt charities and information provided on the Money Nerd site.
Would it be wise to use a Crowe UK IVA?
Crowe UK may be good for you if you have an IVA and are prepared to pay for their services. For many other debtors, Crowe UK will not be able to help.
Crowe UK Contact Details
St Brides House
10 Salisbury Square
020 7842 7100