IVA annual review
People`s circumstances change, and as such you will have a review of your finances each year. If your circumstances haven`t changed at all, you will continue to make the same monthly payment, as previously arranged.
Do I need to be a homeowner to get on a debt management plan?
The right debt solution for you will depend on your immediate and longer-term circumstances. A number of things can affect how suitable each debt solution is for you, such as your income and outgoings, the amount you owe, your ability to repay your debts and your employment and residential status.
IVAs in 2010
A recession is bad news for the country, which means it`s bad news for (many of) the people who live in it. However, it`s a mistake to assume that insolvencies will always go up because there`s a recession.
My mortgage: should I stick with my SVR?
Remortgaging, as the CML (Council of Mortgage Lenders) recently stated, has dropped to decade-low levels - as many homeowners see `little incentive` in remortgaging when their fixed-rate period ends and they revert to the bank`s SVR (Standard Variable Rate).
IVA: what does an Insolvency Practitioner do?
Anyone who enters into an IVA (Individual Voluntary Arrangement) will do so with the assistance of an Insolvency Practitioner, or IP. In short, your IP will help you to make the initial arrangements, as well as carrying out the month-to-month running of the IVA.
Do I need a good credit score to get a debt consolidation loan?
When it comes to borrowing money, your credit score is an important factor in determining the type of deal you are likely to be offered. If your credit history is spotless, you`ll probably have access to the very best deals; if you have struggled in the past, then you may have more difficulty.
Large amounts of debt: will an IVA work for me?
There are a number of debt solutions available to people with unmanageable debt. One option may be an IVA (Individual Voluntary Arrangement): a legally-binding agreement with your lenders in which you`ll repay as much of your unsecured debt as you can afford, and your lenders will write off the rest.
IVA proposal
An IVA (Individual Voluntary Arrangement) can be an ideal solution for people struggling with unmanageable debts who do not feel that bankruptcy is appropriate. It can allow them to make reduced payments for (in most cases) five years, after which any outstanding unsecured debt will be written off.
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