Edge of Bankruptcy

Submit Enquiry

Name

Email

Phone:

Enquiry Type

Comments

Enter Code:
Captcha

Personal Bankruptcy - IVA a better alternative?

For years, many people decided to file bankruptcy in order to rid themselves of their debt. Not many have heard of an IVA which is a UK government approved debt solution. An IVA (Individual Voluntary Arrangement) is an alternative to bankruptcy that can wipe up to 70% of a persons debt. An IVA is a 5 year legally binding agreement in which debtors will pay an monthly amount they can comfortably afford. Once an IVA is agreed existing creditors will not be able to hassle the debtor anymore, existing debt interest will be frozen and the debtors unaffordable debt will be written off. In 5 years a person can become totally debt free with an IVA.

Today's culture has seen an unmatched rise in the number of people who file personal bankruptcy. With the amount of consumer debt at an all-time high, a growing number of people feel that this is the best option for them so they can start over with their finances. The only problem with this idea is that it does not change a person's behavior. Instead, it almost reinforces the irresponsible habits and behaviors that resulted in the debt in the first place. People who find themselves in this predicament and want to avoid personal bankruptcy will want to look into bankruptcy alternatives before making their final decision.

Bankruptcy occurs when a person - the debtor - has a large amount of debt that they cannot repay for one reason or another. People who file bankruptcy often feel that there is no other option for them to get out of the insurmountable pile of debt that they have acquired. The accumulated debt can come from a variety of sources. The situation can also occur for a variety of reasons, from a legitimate catastrophic life event to merely years of irresponsible spending habits.

Even if it takes some hard work and effort, researching your financial options is of utmost importance for making the right decision. Instead of just allowing a personal bankruptcy to affect your credit for years to come, look into the ramifications it will have on your financial future. For instance, it will always affect your ability to get a low interest rate when you decide to buy a home or for many other types of major purchases. For those who want to avoid bankruptcy, there is a way to get out of what might seem to be insurmountable debt. A bankruptcy alternative is available and an IVA is definitely a solution worth considering.

IVA UK have trained advisors who have helped thousands of families who have been struggling with debt become debt free. Free advice is available and if you wish IVA UK can be dealing with your debt within 24 hours while you get your life back on track.Visit IVA UK now for more information

This article is free for republishing
Source: http://www.articlealley.com/article_150051_19.html


Don't Miss...
  1. IVA vs. Debt Management
  2. The Best IVA Advice for Joint Debts
  3. Clearing Up the Question of IVA Fees
  4. Now Loans Are Also Bad Debtor's Cup of Tea
  5. Finding the Right IVA Company
  6. Simplifying IVA and Other Debt Problems
  7. IVA (Individual Voluntary Arrangements) - Alternative To Bankruptcy!
  8. Loans for bad debtors: Discarding debt disorganization to recover financial growth
  9. Debt help & advice - IVA vs Bankruptcy
  10. Basic Personal and Financial criteria for an IVA eligibility.
  11. IVA (Individual Voluntary Arrangements) - Alternative To Bankruptcy!
  12. Reduce Debt, Reduce Stress, Avail Online Debt Consolidation Loans
  13. Three Ways To Harness Your Emotions To Raise Your Credit Score
  14. Bankruptcy Home Equity Loan Choices
  15. Is Chapter 7 Still Available To a Debtor?
  16. Unsecured Loans Online: A Loan to Crack the Money Problem
  17. Use The Guide To Secured Loans For A Better Loan Option
  18. What is IVA or Individual Voluntary Arrangement?
  19. Keep Aside Debt Worries as You Take Loans for Bad Debtors
  20. Unsecured Debt Consolidation Loans: Help You Get Life Debt-Free
  21. Debt consolidation loans to avoid bankruptcy and IVA’s
  22. Provide Yourself Some Comfort with Car Loans for Bad Credit
  23. Free Credit Card Debt Consolidation – Repay Loans Quickly
  24. Insolvency Practitioners in the UK: How to Not Get to Know Them
  25. Free Debt Consolidation – Consolidate Loans to Pay Them Faster
  26. Debt Consolidation Loans- Let yourself free
  27. Unsecured Debt Consolidation Loans: Pursuing For A Debt Free Life
  28. Bad Debt Loans Sub-prime Debt Consolidation Loans
  29. Free Credit Card Debt Consolidation – Repay Loans Quickly
  30. Debt Consolidation Loans- Let yourself free
Latest...
  1. Debt consolidation loans to avoid bankruptcy and IVA’s
  2. HOW TO ACTIVATE A BANKER'S DESIRE TO FORCE MONEY INTO YOUR HAND
  3. Best bad credit CCJ’s IVA loans
  4. IVA vs. Debt Management
  5. Basic Personal and Financial criteria for an IVA eligibility.
  6. IVAs - Possibly Your Best Recourse to Bankruptcy
  7. The Best IVA Advice for Joint Debts
  8. Basic Personal and Financial criteria for an IVA eligibility.
  9. Finding the Right IVA Company
  10. ACCOUNTS RECEIVABLE FINANCING- WORK

© Edge of Bankruptcy 2008. All Rights Reserved