Wednesday 28th of July 2010
Being in debt can be extremely stressful, with constant niggling worries taking hold about how you’re going to pay the bills and meet your repayments.
Information on individual voluntary arrangements (IVAs) may, though, provide answers to those of you who are in this situation and are unsure how you’re going to get out.
Getting rid of your debt and starting to save could have numerous benefits, according to one specialist.
Writing for website Personal Finance, a reporter explained how reducing the amount of cash you owe and living within your means can lead to financial security and lower stress levels.
IVA information might show you how it’s possible to get out of the red over a period of around five years.
And any worries you may have about losing your home as a result of spiralling debts could be allayed by an IVA, as it protects the equity on your property.
- House price rise 'may not indicate recovery'
- Equity release 'needs to be increased'
- Need for IVA help could increase as expert predicts reduction in lending
- Government announces 'breathing space' for those needing IVA help
- Lack of subprime lending creating need for IVA help, expert suggests
- Information on IVAs may support shivering Britons
