- Wednesday, 18 March 2009IVA companies can offer help to people whose chances of repaying their debts have passed beyond reasonable limits, it has been suggested.
Online information provider My Content Builder explains that some borrowers could come to the realisation that they have no way of paying off what they owe in an acceptable length of time.
"If you simply can't see yourself repaying all of your debts in a realistic timeframe, then an IVA might be more appropriate," readers are told.
This is as opposed to a debt management plan which sees existing amounts owed repaid by the borrower, but can take a long time compared to an IVA.
IVA help could also cut the total amount which must be repaid by as much as 70 per cent through mutual agreement with all of an individual's creditors.
And the best
IVA companies can also protect assets such as your car and your house to make sure that, once all the debts are repaid, you still have a roof over your head.
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