A new website, set up by accountants and lawyers, has been launched to help with the transparency of the debt solutions industry, specifically IVAs (individual voluntary arrangements).
IVA.com intends to allow people to rank their experience of debt solutions companies and insolvency practitioners, with an easy to complete on-line questionnaire.
It is hoped that by making the IVA process more transparent, and by allowing IVA customer feedback to be viewed in the public domain, there will be a reduction in cases of IVA mis-selling, that there will be a rise in awareness and that it will encourage standards to improve through free market competition.
This move comes after concerns were raised by the British Bankers’ Association (BBA) at the end of last year, who called for steps to be taken to ensure consumers are getting the best advice.
Everyone at My IVA Adviser welcomes any attempt to improve the standard of services available in the IVA sector, and hopes it manages to go some way in improving the standards of the debt solution industry as a whole.
For further information about IVAs click here, or call My IVA Adviser for free on 0800 088 7503, anytime to speak with one of our IVA specialists.
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