IVA: the creditors meeting
If your debt problems have become so serious that you don`t think you`ll ever be able to pay off your unsecured debts, an IVA (Individual Voluntary Arrangement) could be right for you.
Debt management - is it Government-backed?
There are a number of debt solutions that may be available to people struggling with their debts, and some are more formal than others. For example, there`s the formal, legally-binding IVA (Individual Voluntary Arrangement) - but a debt management plan (a less formal debt solution) might be more suitable for some people.
Student debt guide
Student debt is a worry for many people. Many graduates are shocked at the amount of debt they find themselves in after university.
Is debt consolidation a good idea?
There are a range of debt solutions available, for people with various kinds of debt. For more manageable debts, one option is a debt consolidation loan: a new loan to pay off your existing debts, leaving you with just one monthly payment to deal with.
Can an IVA help with unmanageable debt?
Dealing with unmanageable debt can be extremely difficult - but there is help available. When you call a debt adviser to discuss ways of clearing your debts, one solution they may recommend is an IVA (Individual Voluntary Arrangement).
Does debt consolidation always mean a loan?
Often, when people refer to `debt consolidation`, they are talking specifically about just one debt solution: a debt consolidation loan. However, the phrase `debt consolidation` can also be used to mean any debt solution that combines multiple debt payments into one (a major advantage of this is that managing one monthly payment should be much easier than making several payments).
Help with debt management
There are a number of debt solutions, for people with all kinds of debts. Whether your debts are still manageable or completely out of control, there is help available.
Do I need to include all my credit cards on an IVA proposal?
If you`re considering entering into an IVA (Individual Voluntary Arrangement) and your Insolvency Practitioner (IP) agrees that it`s the right option for you, one of the first things you`ll need to do is work with your IP to draw up your IVA proposal.
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