Debt experts all across the UK are scratching their heads wondering where the desperate consumers are and what are they doing to address their growing financial problems. With pressures on all sides increasing against the bank accounts of UK consumers the prudent advice of ‘Be Careful’ is sure to fall on deaf ears. Growing concerns [...]
With levels of consumer debt having recently surpassed £1 trillion in the UK, more and more people have found themselves in the unfortunate position of having insufficient funds available to cover their outgoings. …
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Individual Voluntary Arrangement: How Does It Work?
Aside from the social stigma, if you are declared bankrupt you:
-Lose your business and professional status-You are not allowed to hold public office-You will not be able to get credit over £500 without disclosing that you have been made bankrupt-Face a number of restrictions with regards to running a business-Your employment prospects will be [...]
IVA proposals can only be put together and presented to an individuals creditors by a licensed Insolvency Practitioner. At the time of this writing there are only about 2000 licensed Insolvency Practitioners in the UK.
The Individual Voluntary Arrangement was originally designed to provide relief to debts generated as a result of business insolvency. In [...]
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