- Tuesday, 26 May 2009IVA solutions are designed to assist people who have become insolvent, it has been explained.
Article Marketing News tells readers that
IVA help resolves the situation where, if an individual were to sell all of their possessions, they still could not repay their debts.
IVA solutions cover all unsecured loans with multiple creditors, but typically do not include secured lending such as mortgages, the article adds.
For those who enter into
IVA help, the process can take around five years and sees a schedule of repayments drawn up with all lenders.
Article Marketing News adds: "An IVA is a legally binding agreement which is paid over a fixed period of time. After that time period, any debt that remains is written off."
With an IVA, it can also be possible to retain ownership of a property by releasing the equity which has been built up, rather than selling the home completely.
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