Individual Voluntary Arrangements – What They Are and Why More People Are Using Them
If you are dealing with personal debt that has become unmanageable, an Individual Voluntary Arrangement is one of the most widely used formal solutions available, and also one of the most misunderstood. The number of IVAs registered in England and Wales has been consistently high, and the reason is straightforward: for the right person in […]
Bankruptcy or IVA?
Why Right Now, the Choice Matters More Than Ever For many people struggling with unmanageable debt, two terms keep cropping up: bankruptcy and Individual Voluntary Arrangement (IVA). Both are serious legal processes, both can offer a way out when debt feels overwhelming, and both carry long-term consequences. But the decision between them isn’t a simple […]
Understanding IVAs
If you can maintain a minimum standard of living and make the minimum payment on your debts, then you are solvent. If you can’t, then you are insolvent. Insolvency used to mean bankruptcy. Now, however, there are alternative options including IVAs. Here is a quick guide to what you need to know about them. There […]
Is An IVA Really Better Than Bankrupcy?
Even today, the prospect of bankruptcy is looked on with dread by many people, even though the concept of debtor’s prison has long since disappeared. IVAs were actually introduced in the late 1980s, but took some time to come into mainstream consciousness. In 1987 there were only 404 of them whereas in 2005 there were […]