Posts Tagged ‘iva help’

Why free debt advice is the best debt advice

Thursday, March 4th, 2010

If you have found yourself with a debt issue that you want to get resolved as quickly and as painlessly as possible and are seeking debt advice, then you will want to know that the debt advisor you are talking with is an impartial debt advisor. Why? Because only if the debt advice that you are receiving is free debt advice, independent of any commercial bias or influence, can you be assured that it is the best debt advice available. In a situation where you have found yourself owing money that you are having difficulty repaying, it is vital that in order to manage the debt properly it is your best interests that are being reflected in the debt management decision making, and not anybody else’s best interests.

First things first though – the question of whether to pay for debt advice. If anyone does try to charge you for debt advice just politely turn your back and walk away. They’re wasting your time. Don’t let them try to waste your money too, especially if you haven’t got any to waste. No credible debt management agency worth its salt will charge you for advice.

Then again just because the best advice is free advice don’t be fooled into thinking that all free debt advice it really is impartial. After all doesn’t everyone offer free debt advice? The question to ask yourself is – is this free debt advice I’m getting, IVA advice for example, just a way of guiding me towards an inappropriate debt management product? Is it really debt advice that I can rely on and trust? Who am I speaking with? An experienced, well trained representative of an independent agency who can advise on my best course of action, or a salesperson who’s trying to guide me towards the most lucrative commission?

Confused? You needn’t be. There’s plenty of impartial debt advice UK wide that can prove a great starting point in helping you manage your way out of financial trouble. From IVA advice, advice on bankruptcy, debt consolidation and Debt Relief Orders, there really is a wealth of knowledge and know-how out there.

At DAT we already deal with more than 100 people a day, offering them independent guidance and advice to help them get to grips with debt problems. Maybe we can help you too.

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How impartial IVA help can help you manage your debt problems

Tuesday, March 2nd, 2010

With insolvency figures at a record high, it’s hardly surprising that requests for bankruptcy advice, IVA help and guidance on debt relief orders (DRO) and how best to manage debt are also at an all time high. At the Debt Advice Trust we deal with over 100 people a day calling us for debt advice and IVA advice. The Citizen Advice Bureau deal with around 9,300 debt related problems a day whilst 1,000 people each and every day seek some form of debt rescheduling.

Times are tough and all the signs are that they’ll get tougher before things ease up. With rising inflation and the likelihood of large-scale public sector spending cuts on the horizon, the signs are not altogether positive.

More often than not debt problems are purely and simply the result of nothing more than a little misfortune or some slight financial miscalculation. However benign the causes, the consequences can be drastic. The aim of proper debt management and IVA help is to take control of the situation before things have the chance to spiral out of control and become unmanageable. It’s important that you act while you still have choices and are able to put together a viable debt recovery plan.

Perhaps the best initial course of action is to make sure that you are speaking to a debt management agency that has not only the experience and the expertise, but most importantly the impartiality to be able to get you moving in the right direction. The last thing anyone needs in times of difficulty is to find themselves being taken down an inappropriate route that might end up benefiting the advisor more than the client.

Take Individual Voluntary Arrangements as an example – if you have substantial debt (in excess of £15k) and are struggling to repay it then an IVA might be the best option. There are other advantages too – the set repayment period, the fact that your creditors are unable to add to the agreed repayment amount or add interest. Whilst most debt management agencies could quickly identify and IVA or Protected Trust Deeds (PTDs) if you happen to live in Scotland, only a truly independent and experienced professional can guide you in the direction of the best IVA provider for you and your specific circumstances.

Seek impartial IVA help and take it.

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Considering the benefits of an IVA? UK debt management for UK business AND individuals

Friday, February 5th, 2010

If anyone finds themselves in debt then without doubt the single best piece of advice anyone can receive is that they should face up to the reality of the situation. It’s vital to take stock of exactly where you stand, to start making arrangements and to tackle the problem before things deteriorate further.

Sure, it’s never nice to have to face up to your financial demons and it’s common for people to feel a little embarrassed or reticent about starting on the path to financial recovery. Don’t let misfortune or mistakes in the past ruin your future. Take professional advice and get to grips with things as soon as possible.

What about an IVA?

UK financial authorities introduced IVAs in 1996 as a formal and legally binding agreement made between a debtor and creditors under which the debts are frozen. More flexible and less onerous than bankruptcy, if you have debts of more than £15,000, a regular income and can budget to make monthly repayments (usually over 5 years) then IVA companies in England or Wales may have just what you need.

In Scotland an equivalent to the IVA is known as a Protected Trust Deed.

They certainly seem to be proving a popular option. Though IVA advice was originally only offered to small businesses that got into financial difficulties and wanted to avoid bankruptcy, they have proved increasingly popular with individuals. In 2009 around 50,000 people entered into an IVA. UK government figures revealing a leap of 25% on 2008 as the recession deepened. Over the same time nearly 80,000 individuals were declared bankrupt while company failures totalled around 50,000.

If you are looking for help and IVA advice on how best to deal with debt or considering your next move on where to turn for impartial advice and guidance then there is a wealth of professional, independent IVA companies out there. You may be surprised at the range of options available and surprised too at how good you will feel knowing that you are taking positive steps to address the situation.

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Are you in debt? An IVA (Individual Voluntary Arrangement) might be just what you need to solve your financial problems

Thursday, February 4th, 2010

Financial problems come in many forms, shapes and sizes and often arise through no fault of your own. Maybe you’ve been let down by someone who owes you money. Maybe you have fallen victim to the economic downturn and lost your job or had essential overtime cut. Health reasons, domestic situations, family circumstances can all come in to play and cause all manner of difficulties.

If you have financial problems then take consolation from the fact that you are far from alone. Figures reveal that as many as 1000 people a day are seeking some form of IVA help or formal debt rescheduling plan.

One of the most flexible options for dealing with debt, an IVA (or the Scottish equivalent the Protected Trust Deed) is often a preferable alternative to bankruptcy for those in serious debt. For example, an IVA or Protected Trust Deed is more flexible, helps you avoid the restrictions of bankruptcy and protects your assets unlike bankruptcy.

In setting up an IVA you need to organise a legally binding timetable with your creditors in which to clear your debts, usually over a period of 5 years. At the end of the period, as long as the agreed percentage (usually somewhere around 50% of their original debt) has been made, any outstanding debt may be written off.

In order to qualify, you will need to meet the following requirements:

• You must have at least £15,000 of unsecured debt
• You must be able to pay at least £200 a month into the IVA
• You need to owe money to three or more. creditors.
• You need to have a regular income

Though an IVA can be an effective way of avoiding bankruptcy if you fail to maintain payments or default on the arrangement you may end up being declared bankrupt.

IVAs have been around for a while now so these days IVA help is plentiful and professional. If you think an IVA could help then seek advice. Make sure though that you take the necessary professional and independent advice before committing.

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