Citizens’ Advice: IVAs can be helpful

However, CAB spokeswoman Moira Haynes cautioned that they are not a “magic” debt solution and that people need to ensure they take quality advice.

“People need good, impartial, independent advice,” said Ms Haynes, urging that consumers take IVA advice.

“They need to be aware of all the options for managing their particular debt problem and then they can make a decision based on the information given.”

Her comments follow a BBC Watchdog investigation which found that not all debt advice firms were equal.

Only quality firms can give top IVA advice to help people clear debt.

However, for those that do use a reputable firm, an IVA can help a person get out of debt without many of the drawbacks of bankruptcy, which can seriously affect an individual’s credit rating.

“Our advice would be if you have got debt problems get free, impartial advice,” added Ms Haynes.

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