- Monday, 6 April 2009The advice of IVA experts could be a wise move for Britons who find they are facing difficulty in meeting credit card repayments.
Financial industry information service Moneyfacts notes that, for many consumers, credit cards are the greatest expense when it comes to debt.
With their relatively high interest rates and the current economic climate, Moneyfacts claims more people are trying to pay off their credit cards at present.
Spokesperson Michelle Slade says: "With worries over rising unemployment they want to get their finances in order."
One way that this could be done is through seeking
IVA advice on how to eliminate multiple debts which have become unmanageable.
While bankruptcy may seem inevitable in such a situation, IVA experts could be able to advise on a different option.
Through an IVA, a schedule is put in place with all creditors to ensure debt can be eliminated in a mutually agreeable way.
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