Archives for the 'IVAs' Category
Property ‘remains safe with IVAs’
Article Category: IVA (Individual Voluntary Arrangement) Help and AdviceIndividual voluntary arrangements (IVAs) ensure that property is safeguarded, it has been observed.Individuals taking out an IVA are assured that their home is not at risk - which is a confidence that people choosing bankruptcy do not have, pointed out James Falla, managing director of Thomas Charles.The […]
IVAs ‘require research’
Article Category: IVA (Individual Voluntary Arrangement) Help and AdviceAnybody considering an individual voluntary arrangement (IVA) should thoroughly research the process, it has been advised.James Falla, managing director of Thomas Charles, said that IVAs are one of three possible debt solutions, with the other two being a debt management plan or bankruptcy.The first step for anybody […]
An IVA is a “fantastic way out of debt”
Article Category: IVA (Individual Voluntary Arrangement) Help and Advice Taking out an individual voluntary arrangement (IVA) is an effective solution to debt problems, it has been claimed.Ian Richards, a spokesperson for the UK Insolvency Helpline - a professional network of lawyers and accountants specialising in debt solutions - said that IVAs were a great success […]
Rise in bankruptcies predicted
Article Category: IVA (Individual Voluntary Arrangement) Help and Advice The number of people of people facing bankruptcy is set to rise next year, the government has warned.Figures released last week from the Insolvency Service showed that take-up of individual voluntary arrangements (IVA) has slowed. However, experts have stated that this drop belies the number of […]
IVAs ‘may be suitable for pressured consumers’
Article Category: IVA (Individual Voluntary Arrangement) Help and AdviceAn individual voluntary arrangement (IVA) can be a good option for people in financial difficulty, it has been claimed.Nick O’Reilly, vice-president of R3, told Business Credit Management that the products may be the most suitable route for individuals who want to avoid bankruptcy and its implications."In many […]
IVA customers ’should not be concerned about credit squeeze’
Article Category: IVA (Individual Voluntary Arrangement) Help and AdviceIVAs will withstand the credit squeeze, the Consumer Credit Counselling Service has stated.A spokesperson for the charity said that while the industry may undergo a restructure due to the tightening up of the markets, consumers should not be affected by this."It’s more of a business and commercial […]
‘Minority’ of old people facing bankruptcy
Article Category: IVA (Individual Voluntary Arrangement) Help and Advice
A proportion of elderly people could be facing bankruptcy, according to Saga.
The provider of financial services to the over-50s asserts that half of the nation’s wealth is held by the over-65s.
But among the demographic group, there may be individuals facing bad debt, a spokesperson notes.
“The danger comes […]
IVAs ‘help debtors to move on’
Article Category: IVA (Individual Voluntary Arrangement) Help and Advice
The security afforded by an IVA helps debtors to get on with their lives, according to an industry spokesperson.
Nick O’Reilly, vice-president of R3 - the Association of Business Recovery Professionals - warns that there is “never ever a release” from debts which are frozen.
But by obtaining an […]
IVAs ‘get debtors back on track’
Article Category: IVA (Individual Voluntary Arrangement) Help and Advice
IVAs can help clear debts and get individuals “back on track”, according to an industry body.
The Insolvency Practitioners Association (IPA) suggests that IVAs send a clear signal to creditors that the borrower is working towards a more secure financial situation.
By entering into a binding agreement, the organisation […]
Half of Brits ‘have no idea what an IVA is’
Article Category: IVA (Individual Voluntary Arrangement) Help and Advice
Almost half (49 per cent) of Britons do not know what an IVA is, according to research.
Figures published by price comparison website moneysupermarket.com show 42 per cent of men and 56 per cent of women are unsure what an IVA involves.
Yet the majority of respondents to a […]