- Tuesday, 7 April 2009IVA advice could help to avoid the heartache of losing a home for Britons who are facing financial difficulty.
According to homeless people's charity Crisis, being forced to leave a property can cause distress leading to mental health problems for many people.
Chief executive Leslie Morphy says: "As the recession bites and unemployment and repossessions soar, we will see a rise in homelessness, which can have a devastating effect on people's wellbeing and mental health."
IVA help could be one option as, while it may incorporate an element of equity release, it can also help safeguard the ownership of a home for those in debt.
With professional
IVA advice, borrowers can draw up a schedule for repayment which is agreeable with all creditors.
There may also be direct financial benefits, such as a freeze on the amount of interest charged and the chance to write off up to 70 per cent of the amount owed.
Recent IVA News23% of first-time buyers save for five years to raise a depositWed, 04 May 2011
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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
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