The Guardian’s “diary of a debtor” blog story has brought up an interesting option for some people in debt – a full and final IVA. We look in more depth at how these work and what’s involved in clearing your debt using this method.
We are appalled at the behaviour of the biggest organisation representing creditors in IVAs – TIX. Individual Voluntary Arrangements (IVAs) are supposed to be accepted by creditors when they are affordable, achievable and represents the debtors’ best efforts. They are supposed to be the best a person can do to repay as much as possible of the debts. It’s a five year commitment (usually) and its pretty fair for both sides – but it isn’t supposed to be set at a level that makes life horribly hard.
“Sticks and stones may break my bones, but names will never hurt me!” It seems that for many people in Britain, assumptions are being made about of lot of things. People assume only a certain type of person falls into…
Continue reading the "IVAs are the easy way out – or are they?" »
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