An Insolvency Practitioner, also known as an IP, is an individual who is authorised and licensed to act on behalf of a person, company or partnership that can no longer meet their financial obligations (known as Insolvency). Continue reading
iva
IVA is short for Individual Voluntary Arrangement. It is a formal government back debt solution, used as an alternative to Bankruptcy.
IVA Living Expenses – Part 1
Many people surf the web to try and find out about IVAs before taking the plunge of going to see an insolvency professional. This is quite a sensible approach in so far as the understanding and knowledge gained will help the individual prepare for a deeper scrutiny of their personal finances, particularly if they are in financial trouble. Continue reading
Who will find out about my IVA?
Insolvent persons who are considering entering into an Individual Voluntary Arrangement (IVA) with their creditors are often concerned as to whether the world generally and certain other people in particular will find out about them and learn that they are in financial trouble. This is a very understandable worry. Continue reading
Dealing with Personal Debt via an Individual Voluntary Arrangement
In our first two articles in this series, we looked at Debt Consolidation and the Debt Management Plan as two of the main approaches for dealing with personal debt problems. In this article we will briefly look at the first of two formal processes that are specifically targeted at debts who are insolvent i.e. an Individual Voluntary Arrangement. Continue reading
Tax Credits in an IVA
It is natural being afraid of the unknown but it’s far better to address the unfavorable aspects of any course of action than to refrain from confronting the issues entirely. The IVA (Individual Voluntary Arrangement) process is just one of those that a person may have an illogical fear of. Continue reading
Getting an IVA Accepted
If you’re planning on entering into an IVA (Individual Voluntary Arrangement) with your lenders you would naturally like to be in no doubt that they are going to accept and agree to your IVA proposal. The overriding concern is whether your offer will be sufficiently attractive to a minimum of 75% of those lenders who make a decision to exercise their power to vote to persuade them to approve your proposals. Exactly what do creditors need to see in your IVA proposal documents?
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Solving Personal Debt Problems with Support from Europe
Most citizens of member states of the European Union (EU) are unaware of certain unexpected benefits that EU membership conveys in relation to personal insolvency. These benefits are rooted in the principle of the free movement of labour which EU citizens enjoy within the EU and are particularly relevant for those who find themselves overburdened by debt and threatened with aggressive insolvency proceedings in certain member states of the EU. Continue reading
Payment Protection Insurance Claims and IVAs
A great number of lucrative claims have already been undertaken and carry on being undertaken against financial institutions in connection with Payment Protection Insurance (PPI). Any existing debtor who thinks that they might have been miss-sold a PPI policy is entitled to make a claim against the financial institution and numerous such people have already accepted settlements from the offending creditors. Continue reading
Interested in an Individual Voluntary Arrangement
If you’ve got money troubles and believe that you could be insolvent, you should find out more about an Individual Voluntary Arrangement (IVA) and ways in which an IVA might make life much better. Bear in mind that undergoing money anxieties in itself isn’t sufficient to be eligible for an IVA. It is essential to actually be insolvent. That means that you have to be unable to pay the money you owe once they fall due and that if you were to put up for sale any resources you might have, such as a home, would most likely realise insufficient money to pay off your due debts, despite the help of your earnings. Continue reading
How do Individual Voluntary Arrangements work
Assuming you have money worries and feel that you could be insolvent, you may want to understand an Individual Voluntary Arrangement, generally referred to as an IVA, and how it could possibly benefit you. Being aware what an IVA is and knowing the IVA approach makes it easier if you need to come to a decision whether to participate in this process or try some other sort of viable solution with regards to your monetary problems. Continue reading