- Wednesday, 4 March 2009The
IVA process could save more than an individual's financial status - it could also save their marriage.
Mark Keenan, founder of divorce website Divorce Online, tells the Swindon Advertiser of the effect the recession is having on marriages.
He reports seeing divorces where the threat of repossession has been hidden from one of the people involved by the other.
Other forms of hidden debt and more general pressures relating to finances are also driving up the divorce rate.
"Sometimes the relationship is already in trouble and money issues cause further arguments," he contends.
The
IVA process could be a marriage-saver for such couples thanks to its ability to provide a clear repayment schedule for debts.
Avoiding the legal expenses which may be associated with divorce could also be a good idea for couples who are already facing financial difficulty.
By setting up an IVA, consumers can also see the total amount they owe reduced by up to 70 per cent as some debts are written off.
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