Wednesday 21st of April 2010
Asking individual voluntary arrangement (IVA) questions could be the first step if you’ve got a spending problem and want to stop flashing the plastic.
It’s easy to be tempted to stick everyday purchases on credit cards by way of convenience, but this can mount up over time, leaving you thousands of pounds in debt and struggling to get out of the red.
This has recently happened to Hollywood star Lindsay Lohan, according to reports from Radar Online.
The Mean Girls actress’s credit card spending has allegedly spiralled out of control and left her saddled with $600,000 (£389,000) worth of unsecured debt.
But IVAs could offer you a helping hand if you’re finding it similarly difficult to cut back on credit card usage.
IVAs could have you debt-free in five years, if the cash you owe on plastic is over £15,000, you are employed and you can meet the monthly repayments.
So seeking IVA answers sooner rather than later might be a wise option if you want to halt your uncontrollable credit card spending and ensure you’re not destined for a life in the red.
By Hayley Jones
- 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
- IVAs could bring a halt to 'debt crisis'
May 25th, 2010 at 3:44 am
Looks like Lindsay has finally come up against a judge who won’t let her away with her crap any longer About time!