- Monday, 16 March 2009A new five-step financial checklist from National Savings & Investments (NS&I) could hold
IVA answers as well as more general monetary guidance for Britons.
Many of the elements of The Five Questions compare closely with the typical IVA questions asked when setting up an IVA.
Indeed, three are specifically related to debt and how consumers could cope if the unexpected happened.
As well as asking how prepared an individual is, The Five Questions ask how much debt a person has and how much it is costing them.
Two other questions relate to the impact tax has on any savings held and how inflation could be eroding their real-terms value.
John Prout, director of customer sales and retention at NS&I, says: "The Five Questions help focus the mind and help people make an honest and straightforward appraisal of their financial situation."
Those whose situation emerges as untenable could find that an
IVA answers the financial questions which hang over them.
An IVA works by bringing together the amounts owed to different creditors into a single, manageable schedule for repayment.
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