Looking at an Individual Voluntary Arrangement (or IVA) through the eyes of the person in debt reveals the pros and cons of the process. Once an IVA is accepted at the meeting of creditors, you can look forward to enjoying a considerable number of advantages, provided you stick to the agreed terms for the duration of the IVA. As with any Insolvency solution, there are also some cons to be aware of in an IVA, especially if the IVA should fail. We have outlined the advantages and drawbacks in this article.
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Personal Debt Articles
Can a Bailiff Force Entry to Your Home?
We all have vague notions in our heads about bailiffs, but when it comes down to it how much do we actually know about their powers and the limits on those powers? If a bailiff came to your door or mine, what can we do? Do we let them in or not? What are our rights?
Continue readingDealing with Personal Debt via Bankruptcy
In our first three articles in this series, we looked at Debt Consolidation, the Debt Management Plan and the Individual Voluntary Arrangement as three of the main approaches for dealing with personal debt problems. In this fourth and final article we will briefly look at the last of the main processes that are specifically targeted at debtors who are insolvent i.e. Bankruptcy. 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
Dealing with Personal Debt via a Debt Management Plan
Here we look briefly at a Debt Management Plan as a means of dealing with personal debt. This is the second of the four main approaches we are looking at in this series of articles about Dealing with Personal Debt. In the first article we looked at Debt Consolidation. Continue reading
Coping with the Worry of Personal Debt
Serious personal debt is a huge worry for many people. When the level of debt becomes unsustainable, the worry can lead to stress and to the effects of more serious health and relationship problems. The journey from being debt free, having money in the bank, being in rewarding employment, earning a good income, enjoying a decent standard of living and living a happy life with spouse and children to being unable to pay bills or to service debts can be a cruel one. Continue reading
Dealing with Personal Debt
Plenty of people have private day-to-day money worries. Many people wish to do something relating to them, essentially to get them to disappear. There are many approaches to situations of individual indebtedness to choose from. The thing is when and where to commence. We want to fully grasp how serious our problems are and score our predicament on a scale of one to ten. A score of one could be a status of being prosperous and comfortable with ten being in a condition of ‘hopeless’ individual indebtedness. However of course that there’s always hope! Especially in the UK where enlightened laws and the ‘fresh start’ strategy for personal debt is offering more than just hope. There are attractive alternative options that the fiscally burdened person can certainly carry out, no matter what the severity of personal insolvency. Continue reading
How Debt Can Affect a Family
If you, your partner, or both of you are struggling with debts, it can affect the whole family and become a very harrowing experience for all. The effects of debt can cause stress, depression, anxiety and even aggravation of various physical illnesses too. The only way out of the problem is to communicate and work together to solve it, or seek help from an advisor.
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