Of this figure, 10,000 will go bankrupt or agree to Individual Voluntary Arrangements (IVAs) as a result of excessive spending at Christmas, according to Grant Thornton. After interest rate hikes, rising unemployment and costly energy bills last year, excessive festive…

Steve Gracey, from Alliance & Leicester, said that many people are choosing an IVA as an alternative to bankruptcy, but he urges consumers to be “sensible” about this. “Statistics show that more people are taking out IVAsand more people are…

In a move that will see IVAs self-regulated in a way similar to the Banking Code is, it should benefit users of the agreements even more. While many already trust reputable providers to help them clear debt through an IVA,…

While his rivals can be wary of the arrangements, Sir Fred said that they are an ideal debt solution, speaking as the RBS announces that it expects decrease in cases of bad debt. “IVAs are used by people in financial…

This amount is 36 per cent more than the same period the year before, stating that Individual Voluntary Arrangement (IVA) use had also grown and that the tide of insolvencies is likely to continue. “The trend of rising personal bankruptcies…

In this scheme, which ClearDebt believes is unique in the industry, the debtor’s monthly IVA contributions can be claimed for up to 12 months should a debtor be unable to work due to an accident, illness or involuntary unemployment. “Our…

Jon Bartman, managing director of Money Debt and Credit, told Channel 4’s News at Noon that banks are not “blameless” in contributing to Britain’s £1.3 trillion of personal debt and soaring use of IVAs and bankruptcy. “I don’t think the…

The Debt Resolution Forum will speak on behalf of companies and advisers working across the industry to help ensure that holders of an IVA are treated fairly. According to Reuters, the forum is being established due to soaring rates of…