Monday 12th of April 2010
When you’re burdened with debt and need help, it can often feel like you have nowhere to turn - but seeking individual voluntary arrangement (IVA) answers on the internet might benefit many in a similar situation.
IVAs could help you regain control of spiralling unsecured debts.
By freezing interest rates on credit card and personal loan repayments, you can cut down the money you owe - if it’s worth more than £15,000 - over a period of five years and finally give you a bit of breathing space.
And IVAs can be applied for online - which may interest increasingly tech-savvy Brits who are turning to the internet for help with their debts.
According to recent figures from the Consumer Credit Counselling Service (CCCS), some 150,000 people used its CCCS Debt Remedy service in 2009, with two-thirds of those logging on aged 40 or under.
Paula Searle, head of e-Services at the charity, comments: "Higher rates of online debt counselling users in any particular category is likely to be a combination of need for help with their debts and general internet usage."
If you feel too uncomfortable to seek debt help face-to-face, asking IVA questions online could be an option that enables you to find answers quickly and effectively without leaving the comfort of your own home.
By Chris King
- 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
- IVA answers could help restore much-needed financial control
