The IVA Website

Thousands of people across the UK have faced the devastation of flooding, and will now continue to feel the effects financially.

The best advice anyone can give regarding debt is to stay out of debt entirely. Yet, if you are reading this, you are most likely already in debt that is possibly putting a stranglehold on your life. Getting debt advice from a qualified and impartial representative is an advisable first step toward breaking free of difficult debt situations.

Because debt often starts small then grows every month as minimum payments do not match continued spending and growing interest on loans, many borrowers find themselves in tight situations.

Things are bad – really bad. You can’t manage your debt and as it mounts still higher making even the minimum payment on all your obligations becomes increasingly difficult or impossible. Facing the fact that you are in over your head you may start looking at your options for debt management including the dreaded bankruptcy.

There has been an alarming rise in the acquisition of IVAs (Individual Voluntary Arrangements) in recent years. Personal debt problems have seen personal insolvencies increase quite dramatically. In 1998 there were 24,500 insolvencies registered, of these 5000 were IVAs, the rest were bankruptcies.

If, like me, you are in a bit of debt and are trying your damnedest to get out of it you will know that no amount of debt solutions or debt advice will help you have a good time at a birthday, a house warming, a baby shower, an anniversary, a leaving do or even a bar mitzvah when you are broke and worried about money!

It's not really a matter of knowing that you need an, IVA it is more a matter of understanding an IVA and knowing the consequences of entering into something that is essentially a serious commitment. When you enter into a debt solution like an IVA I would seriously advise that you make sure you know exactly what your entering into.

I have always been in debt, since I was about 3 I think! No obviously not at 3 but you know what I mean, debt has been a real issue in my life and I have honestly struggled with it. It started after university when I left with a rather large amount of debt (thank you student loan!). I didn't worry too much about it then as I assumed that everyone was in the same position but of course that was just misguided naivety.