Debt in the UK is at record levels and many debt advice organisations and agencies are dealing with unprecedented numbers of requests for bankruptcy and Individual Voluntary Arrangement (IVA) advice – even the Government owe nearly 800 …
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Individual Voluntary Arrangements (IVAs) – Debt repayment made …

An Individual Voluntary Arrangement is an official binding agreement between an individual and his/her creditors that give them privilege to disburse a smaller amount of money than they owe to their debtors in reality. This is usually considered as a substitute to bankruptcy; however, one can choose to go for an IVA even if they [...]

An Individual Voluntary Arrangement is a legally binding arrangement between you and your creditors, which allows you to pay less than what you actually owe to your debtors. It can be seen as an alternative to bankruptcy, but you can opt for an IVA even if you are already bankrupt. The Insolvency Act introduced the [...]

There is personal bankruptcy or Individual voluntary arrangement . Personal bankruptcy is a process that enables an individual to declare bankruptcy, but it is only possible in certain jurisdictions. However, Individual Voluntary …

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Debt is unavoidable in the world of today. It enables you to experience the comforts and luxuries beyond your means. It is the dream of everyone to own a home, a car, and send the kids to school. These dreams are most of the time made true by incurring more debt.

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When people get into financial difficulty over their debts they sometimes seek debt management help. Debt management comes in many forms and the daddy of all of these is the IVA or Individual Voluntary Arrangement (sometimes known by different but similar names such as independent voluntary arrangement, individual debt agreement, etc.). The IVA is a [...]

Due to the shocking rise in the

These 700,000 ‘hidden debtors’ are the latest estimate from a government survey, conducted in consultation with R3,  the Association of Business Recovery Professionals, of the number of individuals in Great Britain who are currently in a Debt Management Plan (DMP). This is an informal repayment plan that offers reduced monthly payments to the creditors on [...]