Articles
IVA Articles and Information on everything related to IVAs.
These articles have been written especially to help our visitors learn more about all the debt solutions that are available, how each debt solutions works, and how it would be applied to their personal circumstances.
Individual Voluntary Arrangements (IVAs).
Individual Voluntary Arrangement or IVAs as they are know, are a formal debt solution. They form part of the Insolvency Act of 1986, and were originally designed to help businesses with heavy debt problems ‘trade through’ rough times. Over the last decade personal insolvency has grown substantially in the United Kingdom and now, in the vast majority of cases, IVAs are used by individuals looking to avoid bankruptcy. View all IVA articles.
Debt Management Programs (DMPs)
Debt Management Programs or DMPs are informal arrangements. This means that an offer is made to creditors, but the creditor is able to revise or even reject the offer even after an initial period of acceptance. This is because DMPs are not legally binding on either party, and are therefore they are susceptible to creditor’s modifications. View all DMP articles.
Bankruptcy is the ultimate debt solution and is usually viewed as a ‘last resort’ solution by most individuals. In bankruptcy an individual is required to pass control of their financial affairs to the Official Receiver or OR. Even though there have been significant changes to the bankruptcy laws, which have, in the eyes of many, softened the bankruptcy process, it appears most people try to avoid bankruptcy at all costs. View all Bankruptcy articles.
Company Voluntary Arrangements (CVAs).
Company Voluntary Arrangements or CVAs are very similar to IVAs but, yes you guessed it, are for companies! CVAs offer companies a chance of respite from their creditors demands, in a similar way to how an IVA protects an individual, giving companies the opportunity of trading through severe cash flow problems whilst avoiding the need for a voluntary liquidation. View all CVA aticles.
Probably the largest loan you’ll ever take out! Mortgages are long term secured loans, usually arranged to purchase property. They are tailored to meet the individual requirements of each particular property purchase, with the mortgage being subject to very specific criteria. The lender holds security over the mortgaged property for the duration of the loan and retains the power to repossess the property should repayments cease. View all Mortgage articles.
Here you’ll find a general assortment of articles, covering all the different aspects of debt problems. Each offering an explanation to a technical term or just offering practical advice and suggestions on how to deal with a debt problem or just problems related to being in debt. View all General Debt Advice articles.