By making enquiries about
debt management IVA advice you're putting yourself on the track to probity
and therefore ensuring a new life for yourself and your family. Any
life choices made now will start this process.
According to a new law brought
by the government, Individual voluntary arrangements have brought a
kinder way to deal with personal debt. An Individual voluntary arrangement
is an acceptable alternative to going bankrupt and has none of the shame
or stigma attached. It is an excellent way to deal with insolvency or
bad debt issues. Under the law, a properly constituted IVA will immediately
write off up to sixty per cent (occasionally more) of your debt immediately.
Your keen interest in debt management IVA advice should be amply rewarded
by the transformation in life brought about by its application.
IVAs or individual voluntary
arrangements are normally designed to run for a five year term, although
in some cases this can be changed to fit with personal necessities.
North of the border, where they are called trust deeds or protected
trust deeds, the term is usually 36 months but may be four or five years.
With both the Individual voluntary arrangement and also the trust deed
the debtor client is safeguarded from predatory creditors by the terms
of the agreement and their debts are totally and absolutely cleared
at the conclusion of the period (however long that may set to run).