An independent voluntary arrangement (IVA) has been suggested as a good way for indebted people to strengthen their financial positions. According to the Daily Mirror, 30,000 people began bankruptcy proceedings between April and June of this year, indicating that debt…
People struggling with debt management may not be aware of the various avenues for assistance that are available to them, some of which have been highlighted by an industry expert. Writing for This is Money, Pamela McGrath from the National…
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Personal insolvencies have been predicted to continue rising throughout 2009. Figures from the Insolvency Service revealed that a record number were seen in the first quarter of the year, with bankruptcies and Individual Voluntary Arrangements (IVAs) up 23.4 per cent…
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Borrowers have been urged to seek debt help if they find that they are unable to cope with what they owe. According to personal finance magazine Moneywise, a range of options are available – including means to have debts written…
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Bankruptcies have hit record levels following the downturn in the economy, figures have revealed. Newly-released data from the Insolvency Service has shown that 19,100 people were declared bankrupt in the final quarter of 2008, representing a 22 per cent rise…
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Lenders are more open to debt consolidation plans than “ever before”, it has been claimed. Ian Boden-Smyth, a money advice co-ordinator at the UK Insolvency Helpline, stated that banks and building societies are now more willing to negotiate with borrowers…
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Personal insolvencies are likely to reach record levels in 2009, it has been predicted. KPMG has forecast that over 150,000 people will either be entering into Individual Voluntary Arrangements (IVAs), being declared bankrupt or entering a soon to be introduced…
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The government’s decision to withdraw the proposed Simple Individual Voluntary Arrangements (Sivas) has been criticised by the Debt Resolution Forum (DRF). Had the government’s proposed reform gone through, Sivas would have been made available to the public in the spring…
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