Reducing debts in an IVA

A fundamental precondition for being permitted to be accepted into an Individual Voluntary Arrangement (IVA) quite simply will need to initially be insolvent. Whilst there are different solutions for the insolvent debtor for instance bankruptcy, this assessment is going to simply look at the advantages and drawbacks of the IVA choice should you be unfortunate enough to find yourself in this difficulty. Continue reading

Challenges to the Irish State on the topic of Consumer Debt

It guaranteed to hit the ground sprinting and the new Irish Government will soon be a hundred days in office. It is fully committed to achieve a lot of adjustments and that being said perhaps now is the occasion to ask various concerns as to precisely what it is providing concerning the ordinary person as distinct from what it is working on in relation to finance companies, builders, NAMA and sovereign interest rates in its admittedly stressful initiatives to meet its committed EU and IMF performance targets. Continue reading

Will an IVA affect my Mortgage?

An IVA is a formal agreement between you and your unsecured creditors to repay a portion of your debt over a limited period of time – usually five years, but it can be for a shorter period.

Secured creditors expect to receive the full contractual repayments on their secured loans to you over the life of the IVA and thereafter. If you have a mortgage, you will be expected to make the monthly mortgage payments to your mortgage provider in full. Continue reading