- Tuesday, 14 April 2009By setting up an IVA, people can find one of the options to resolving an untenable level of personal debt, it has been noted.
Jacqueline Gallagher, Citizens Advice Bureau manager for the Derry area, tells the Sunday Journal that an
IVA debt solution is one of three ways to escape debt.
And her advice could be of interest to many people who previously may have assumed that bankruptcy was an inevitability.
She notes that this is the case with many of the Derry people who consult Citizens Advice for guidance.
"They are telling us they want to be made bankrupt because they can see no other way out," Ms Gallagher tells the publication.
And she adds that this marks a departure from the previous trend for bankruptcy to be thought of as "shameful and deviant".
Setting up an IVA could be preferable to bankruptcy as it typically allows an individual to hold a bank account and may also help them to retain ownership of their home.
Recent IVA News23% of first-time buyers save for five years to raise a depositWed, 04 May 2011
Brits dealing with Finance Management should shop around for car insurance Wed, 04 May 2011
Parents, including those with Finance Management, advised to start saving for children's weddingsTue, 03 May 2011
Newlyweds may be in need of Finance Management plans after overspending on weddingTue, 03 May 2011
Renting rather than buying may be an option for Brits with Finance Management Thu, 28 Apr 2011
Consumers coping with Finance Management may want to shop around for cheap energy tariffsWed, 27 Apr 2011
Increasing number of Brits turning to loans for home improvementsWed, 27 Apr 2011
Brits, including those with Finance Management plans, to spend £267 on Royal Wedding Tue, 26 Apr 2011
Equity release can be used to 'become debt-free'Tue, 26 Apr 2011
| |
Money Debt and Credit Ltd, Registered in England & Wales No.05588842.
Registered Office: 45 Clarendon Road, Watford WD17 1SZ
Consumer Credit Licence Number: 0580960