Debt Articles

Mortgage Issues in an IVA

Mortgage Issues That Come Up in an IVA

When any individual enters into an Individual Voluntary Arrangement (IVA), they are making a formal agreement with their unsecured creditors to repay a chunk of their debts over a finite duration.

Marital Debt

The concept that Love Conquers All has been the theme of poetry, songs, plays, motion pictures and even superb works of art such as Caravaggio’s Amor Vincit Omnia. From the scriptures we’re not surprised to come across a lot of references to the power of love.

Is Debt Management a Good Solution?

Prior to looking at the worth of Debt Management as a means to fix an individual’s personal debt troubles, it’s worth looking at the way creditors see it.

Car Loan Debt

Car Loans Can be Secured or Unsecured

Few people purchase their motor vehicles for cash at present. Financing can be a mix of trading in the current car, cash payment and funds supplied by a third party financial

No Interest in a Debt Management Plan

A Debt Management Plan for short is a course of action to pay back your complete debts but at a slower pace and over a longer timeframe than you agreed to do in the first place when you acquired your overdrafts or loans or when you entered into your credit agreements by taking out credit

Bankruptcy is less severe in the UK

If there is one comforting thought for someone who is contemplating bankruptcy, it is to think about the many famous and even infamous people who became bankrupt at one time or another or even repeatedly over the course of their lives.

Lenders and IVA offers

The Disposition of Lenders With Regards to Proposals for IVAs

Most people would assume that when it boils down to it, lenders would adopt the practical attitude to each and every IVA proposal, voting in favour of it when it affords the best possibility for the maximum gain on the loaned monies and voting against it if another course of action offered or promised a higher

Debt Management Standards

The Office of Fair Trading (OFT) has amended its Debt Management Guidance that covers the standards it is expecting from organizations that furnish debt management advice or deliver credit repair services to

Set up my IVA

Assuming that you know that you are currently insolvent you really need to find a solution. Here is how to go about it.

Do an IVA with no assets

Even though you you possess zero property or assets, it doesn’t preclude you from suggesting an Individual Voluntary Arrangement to your creditors. Anyone can present proposals for an IVA to their lenders provided they are insolvent.