An IVA (Individual
Voluntary Arrangement) is a debt relief plan set up by the government
of the day to try to eliminate personal debt and deal generally with
the issue of credit card debt consolidation. Our associates are licenced
to give advice and do so on the understanding of the fact that Individual
voluntary arrangements are not designed to be one-size-fits-all cures
to any debt problem, as individual circumstances can vary so much.
The needs of one person can vary greatly from the needs
of another person or household. Any IVA advice given must take into
account the diverse nature of the situation people find themselves in.
In general an Individual
Voluntary Arrangement will run for 60 months (sometimes less) and when
this is complete all the debts are discharged from a person's credit
record. During this time banks are not permitted to pursue or harass
the debtor. The IVA has the benefits of bankruptcy and none of the disadvantages
of some other forms of credit card debt consolidation.
An IVA will write
off the larger part of your debt at the beginning of the programme (although
beware of the exaggerated claims in some advertising: it is seldom more
than 60 or 65 per cent of unsecured debt which can be cancelled in this
way). Any good IVA advice of this nature will ensure that you get the
best results with the lowest repayment options together
with the greatest percentage of debt write-off.
So fill in the application
form for independent and impartial IVA advice which
is right for your own situation.
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We have a super-quick
and highly professional debt consolidation service. A qualified and
experienced Insolvency Practitioner will be personally assigned to you
and you will get a telephone call back from him or her very quickly
(or whenever you specify on the online form).
As easy as the cards
come, the debt continues to follow just as easily. Eventually, this
credit card debt becomes increasingly larger and the ability to pay
with your card at so many places can begin to add up and become unmanageable.
A good credit card debt consolidation plan will encourage you to list
all of your creditors and therefore make an inventory of the entire
debt that is due. Sometimes this includes every payment that you make
and compares it with what you must pay immediately and those that can
card debt consolidation is a way of fighting against the pernicious
and creeping spread of credit availability. People who begin to get
credit are soon offered multiple lines of credit, sometimes with high
interest rates since they are more of a risk and are just beginning
to establish themselves. Credit card companies are also more likely
to realize that, over time, you will continue to increase your income
and be able to handle more credit. That is, if you can make it that
long. The reality is that, in just a short while, your credit rating
can be ruined by overextended credit card debt. This can not only affect
your day to day finances but also your credit score. This can make it
very hard to obtain new credit once you have cleared up the debt issues,
since it appears that you are unable to manage your financial responsibilities
in an adequate manner.
People more commonly
use credit cards because you can charge them now and worry about paying
later. The reality is that many people in credit card debt spend more
than their income will allow. If this bad habit continues, they are
not only forced into debt consolidation but could possibly lose access
to all of their credit cards and many other financial resources besides.
Indeed, part of the credit card debt consolidation management plan should
always include debt management and changing spending behavior to ensure
that they are not in the same situation.
One thing to remember
is that just because someone puts into practice good credit card debt
consolidation management plans the first time, the real change comes
when their spending habits are also changed. Otherwise, they will be
back to the same situation in just a short while. Often when you are
in debt consolidation and you acquire new debt, this new debt will not
be included in the old consolidation plan. People may end up making
more than one payment to several places and thus increase their credit
card balances again.
The real answer
is prudence. Every one of us must draw up a list of incomings and outgoings
and keep to that plan solidly. There is no escaping from this hard fact
of life. As Mr Micawber immortally said, in Dickens' novel David Copperfield,
"Annual income twenty pounds, annual expenditure nineteen nineteen
six, result happiness. Annual income twenty pounds, annual expenditure
twenty pounds nought and six, result misery."
That's a lesson
that is as true now as it was then. What a shame there was no such thing
as credit card debt consolidation in Mr Micawber's day!
Now go back
up to the application form and change your life today!
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Card Debt Consolidation