Britain: ‘highest level of personal debt in the world’

28 November 2008
Britain is entering the downturn ‘with the highest level of personal debt in the world’, Conservative leader David Cameron has claimed.... read more »

Simplified IVA plans withdrawn

5 December 2008

Anyone with an interest in IVAs (Individual Voluntary Arrangements) will probably have heard about the fate of the SIVA (Simplified IVA).

The Insolvency Service has announced that plans to introduce SIVAs have been withdrawn, stating that the ‘successful operation of the IVA Protocol has resulted in many of the desired improvements in the IVA marketplace being implemented without the need for further legislation’.

What do I do if I can’t keep up with my IVA?

6 January 2009

For people with significant debts (usually £15,000 or higher), an IVA (Individual Voluntary Arrangement) can be a very useful way out of debt that avoids some of the downsides of bankruptcy.

An IVA is a legally-binding agreement between you and your creditors. It involves making regularly monthly payments, based on how much you can afford, usually for a period of five years. Once the five years have passed, your remaining debt will be considered settled.

Expert issues "debt addiction" warning

20 January 2009
Consumers who are unable to clear their credit card balance each month may have the beginnings of a "debt addiction", it has been suggested.... read more »

250,000 debt consolidation loans before Easter

6 March 2009
Whatever the worries about limited credit availability, at least one bank believes that a quarter of a million debt consolidation loans could be taken out by Easter.... read more »

Why should I choose a debt management plan?

26 March 2009
If you`re unable to keep up with payments to your unsecured debts, you may be wondering whether debt management might be a way for you to regain control of your finances - and whether you should `go it alone` or ask a debt management organisation to help.... read more »

Unmanageable debt in Scotland rising

6 May 2009
Unmanageable debt in Scotland seems to be rising, according to the latest insolvency figures from the Accountant in Bankruptcy (Scotland`s Insolvency Service).... read more »

Is an IVA better than bankruptcy?

7 May 2009
Is an IVA better than bankruptcy? The only real answer is `sometimes`, as it depends on the individual in question: not just how much they owe, but a whole range of other factors...... read more »

IVAs across the UK

18 May 2009
An IVA (Individual Voluntary Arrangement) is a form of insolvency which can help people in some parts of the UK reduce their monthly expenses and write off the portion of their debt that they can`t realistically expect to repay in a reasonable period of time.... read more »

Will I lose my home in an IVA?

16 June 2009
If your debts have become unmanageable, an IVA (Individual Voluntary Arrangement) could help you to avoid bankruptcy and repay as much of your debt as you can afford.... read more »

Bankruptcy v IVA - Which is better?

3 November 2008
Bankruptcy v IVA (Individual Voluntary Arrangement) – which is better? As with any debt solution, there’s no actual ‘better’ or ‘worse’. The real question is: Bankruptcy v IVA – which is better for me?... read more »

Debt management plan or IVA?

2 February 2009
If you`re struggling with unmanageable debt and looking for a way out, would a debt management plan or IVA (Individual Voluntary Arrangement) be more appropriate?... read more »

Can I use an IVA to pay my mortgage arrears?

26 June 2009
For people struggling with unmanageable debts, an IVA (Individual Voluntary Arrangement) can offer an alternative to bankruptcy.... read more »

Will creditors take me to court if I enter a debt management plan or an IVA?

17 July 2009
If your debts have become unmanageable to the point where you simply can`t afford your repayments, then finding the right debt solution is important.... read more »

Bankruptcies in Northern Ireland could hit 1,000

29 July 2009
Over 1,000 people could be declared bankrupt in Northern Ireland this year - which would be the highest figure ever recorded, the BBC reports.... read more »

How long does an IVA take?

27 March 2009
In most cases, an IVA (Individual Voluntary Arrangement) will last for five years, but it isn`t always so straightforward.... read more »

Debt could lead to a rise in IVAs and bankruptcies

6 August 2009
Official figures published tomorrow are expected to reveal another big rise in insolvencies, The Times reports.... read more »

Types of debt help

12 August 2009
If you`re unable to repay your debts, you might find that the interest grows very quickly. For that reason, it`s important that anyone struggling to repay their debts finds a way to improve the situation.... read more »

Which is right for me: IVA or DRO?

21 September 2009
When it comes to dealing with unmanageable unsecured debts, there are a number of solutions that can help people clear their debt and get back in control of their finances. Two of the options are an IVA (Individual Voluntary Arrangement) and a DRO (Debt Relief Order). IVAs and DROs can both help people clear their unmanageable debts, but each is suitable for people in different circumstances.... read more »

Can I keep my business with an IVA?

25 September 2009
An IVA (Individual Voluntary Arrangement) can be an option for people who feel that bankruptcy might be the only way to clear their debts.... read more »